NextEra Energy Partners, LP (NYSE:NEP) Given Average Recommendation of “Hold” by Brokerages

Shares of NextEra Energy Partners, LP (NYSE:NEP) have earned a consensus recommendation of “Hold” from the seventeen ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month target price among brokers that have covered the stock in the last year is $24.64.

NEP has been the subject of several research reports. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their target price for the company from $25.00 to $22.00 in a report on Thursday, October 24th. Barclays reissued an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Jefferies Financial Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. BNP Paribas began coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target for the company. Finally, Evercore ISI dropped their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th.

Institutional Trading of NextEra Energy Partners

A number of institutional investors have recently added to or reduced their stakes in the stock. Brown Miller Wealth Management LLC increased its holdings in 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 valued at $509,000 after buying an additional 433 shares in the last quarter. Pathway Financial Advisers LLC grew its holdings in shares of NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after acquiring an additional 454 shares during the period. Arizona State Retirement System increased its stake in NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after purchasing an additional 509 shares in the last quarter. Apollon Wealth Management LLC raised its holdings in NextEra Energy Partners by 5.7% during the third quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock worth $340,000 after purchasing an additional 667 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its position in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NEP opened at $17.09 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a 52-week low of $15.55 and a 52-week high of $35.15. The stock has a 50 day moving average price of $17.53 and a 200 day moving average price of $22.39. The company has a market capitalization of $1.60 billion, a price-to-earnings ratio of 7.84 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. During the same period last year, the business earned $0.57 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. Research analysts predict that NextEra Energy Partners will post 2.04 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were issued a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 21.48%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio is currently 168.35%.

NextEra Energy Partners Company Profile

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.