NextEra Energy Partners (NEP) – Investment Analysts’ Weekly Ratings Updates

A number of firms have modified their ratings and price targets on shares of NextEra Energy Partners (NYSE: NEP) recently:

• 10/21/2024 – NextEra Energy Partners had its price target lowered by analysts at BMO Capital Markets from $28.00 to $26.00. They now have an “outperform” rating on the stock.
• 10/9/2024 – NextEra Energy Partners had its price target lowered by analysts at Mizuho from $33.00 to $26.00. They now have a “neutral” rating on the stock.
• 10/4/2024 – NextEra Energy Partners had its “underweight” rating reaffirmed by analysts at Barclays PLC. They now have a $25.00 price target on the stock.
• 10/1/2024 – NextEra Energy Partners is now covered by analysts at BNP Paribas. They set an “underperform” rating and a $15.00 price target on the stock.
• 9/30/2024 – NextEra Energy Partners had its price target lowered by analysts at UBS Group AG from $28.00 to $27.00. They now have a “neutral” rating on the stock.
• 9/19/2024 – NextEra Energy Partners is now covered by analysts at Jefferies Financial Group Inc.. They set a “buy” rating and a $28.00 price target on the stock.

NextEra Energy Partners Trading Down 3.6 %

NextEra Energy Partners stock traded down $0.95 during trading on Monday, hitting $25.25. The company had a trading volume of 1,039,148 shares, compared to its average volume of 1,393,421. NextEra Energy Partners, LP has a 1-year low of $21.83 and a 1-year high of $35.15. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The company’s 50 day simple moving average is $25.67 and its 200-day simple moving average is $27.88. The stock has a market cap of $2.36 billion, a price-to-earnings ratio of 8.28 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million during the quarter, compared to the consensus estimate of $365.54 million. During the same quarter last year, the firm earned $0.53 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, analysts expect that NextEra Energy Partners, LP will post 2.2 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a $0.905 dividend. This represents a $3.62 annualized dividend and a yield of 14.34%. The ex-dividend date was Tuesday, August 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio (DPR) is 118.69%.

Institutional Trading of NextEra Energy Partners

Institutional investors have recently added to or reduced their stakes in the stock. Brown Miller Wealth Management LLC grew its stake in shares of NextEra Energy Partners by 2.4% in the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after acquiring an additional 433 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of NextEra Energy Partners in the third quarter worth $173,000. Strategic Wealth Partners Ltd. grew its stake in shares of NextEra Energy Partners by 25.4% in the third quarter. Strategic Wealth Partners Ltd. now owns 46,912 shares of the solar energy provider’s stock worth $1,296,000 after acquiring an additional 9,490 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of NextEra Energy Partners in the second quarter worth $639,000. Finally, Cetera Investment Advisers grew its stake in shares of NextEra Energy Partners by 10.6% in the second quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock worth $1,948,000 after acquiring an additional 6,769 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.