NextEra Energy Partners LP (NYSE:NEP) has received a consensus rating of “Hold” from the ten ratings firms that are covering the stock. Six research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $31.33.

NEP has been the topic of a number of research reports. Zacks Investment Research cut NextEra Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, September 28th. Barclays PLC reiterated a “buy” rating and set a $34.00 price target on shares of NextEra Energy Partners in a research report on Monday, September 12th. Oppenheimer Holdings Inc. initiated coverage on NextEra Energy Partners in a research report on Thursday, September 8th. They set an “outperform” rating and a $34.00 price target on the stock. Finally, Avondale Partners upgraded NextEra Energy Partners from a “market perform” rating to an “outperform” rating and set a $33.00 price target on the stock in a research report on Tuesday, November 1st.

NextEra Energy Partners (NYSE:NEP) opened at 25.01 on Friday. The firm has a market capitalization of $1.36 billion, a PE ratio of 21.39 and a beta of 1.33. NextEra Energy Partners has a one year low of $22.25 and a one year high of $32.42. The company’s 50-day moving average price is $27.09 and its 200 day moving average price is $28.96.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.62 earnings per share for the quarter, topping analysts’ consensus estimates of $0.33 by $0.29. The business had revenue of $188 million for the quarter, compared to analysts’ expectations of $195.67 million. NextEra Energy Partners had a return on equity of 2.47% and a net margin of 6.79%. During the same period in the prior year, the firm earned $0.05 EPS. On average, analysts forecast that NextEra Energy Partners will post $0.96 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Tuesday, November 8th were paid a dividend of $0.341 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.33. This represents a $1.36 dividend on an annualized basis and a yield of 5.45%. The ex-dividend date was Friday, November 4th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 108.73%.

A number of institutional investors have recently modified their holdings of the stock. Cohen & Steers Inc. raised its position in shares of NextEra Energy Partners by 918.3% in the second quarter. Cohen & Steers Inc. now owns 6,704,944 shares of the company’s stock worth $76,436,000 after buying an additional 6,046,476 shares during the last quarter. Neuberger Berman Group LLC raised its position in shares of NextEra Energy Partners by 53.4% in the third quarter. Neuberger Berman Group LLC now owns 5,200,277 shares of the company’s stock worth $145,452,000 after buying an additional 1,809,261 shares during the last quarter. Energy Income Partners LLC raised its position in shares of NextEra Energy Partners by 27.0% in the first quarter. Energy Income Partners LLC now owns 3,584,687 shares of the company’s stock worth $97,467,000 after buying an additional 761,203 shares during the last quarter. FMR LLC raised its position in shares of NextEra Energy Partners by 1.9% in the second quarter. FMR LLC now owns 2,985,965 shares of the company’s stock worth $90,714,000 after buying an additional 56,015 shares during the last quarter. Finally, Jennison Associates LLC raised its position in shares of NextEra Energy Partners by 2.9% in the second quarter. Jennison Associates LLC now owns 2,483,756 shares of the company’s stock worth $75,457,000 after buying an additional 69,116 shares during the last quarter. 71.52% of the stock is owned by hedge funds and other institutional investors.

About NextEra Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as approximately seven contracted natural gas pipeline assets.

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