NextEra Energy Partners LP (NYSE:NEP) was upgraded by equities researchers at Gabelli from a “hold” rating to a “buy” rating in a research report issued on Monday.

NEP has been the subject of a number of other reports. Zacks Investment Research downgraded NextEra Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, September 28th. Barclays PLC reiterated a “buy” rating and set a $34.00 target price on shares of NextEra Energy Partners in a research note on Monday, September 12th. Credit Suisse Group AG began coverage on NextEra Energy Partners in a research note on Thursday, November 17th. They set an “outperform” rating and a $33.00 target price for the company. Oppenheimer Holdings Inc. began coverage on NextEra Energy Partners in a research note on Thursday, September 8th. They set an “outperform” rating and a $34.00 target price for the company. Finally, Avondale Partners upgraded NextEra Energy Partners from a “market perform” rating to an “outperform” rating and set a $33.00 target price for the company in a research note on Tuesday, November 1st. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $31.44.

Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

Shares of NextEra Energy Partners (NYSE:NEP) opened at 26.01 on Monday. NextEra Energy Partners has a 12 month low of $22.25 and a 12 month high of $32.42. The firm has a 50-day moving average price of $26.75 and a 200-day moving average price of $28.86. The company has a market capitalization of $1.41 billion, a PE ratio of 22.25 and a beta of 1.33.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Monday, October 31st. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.33 by $0.29. The firm earned $188 million during the quarter, compared to the consensus estimate 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 last year, the company earned $0.05 earnings per share. On average, equities research analysts predict that NextEra Energy Partners will post $1.14 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Tuesday, November 8th were issued a dividend of $0.341 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.33. This represents a $1.36 annualized dividend and a yield of 5.24%. The ex-dividend date of this dividend was Friday, November 4th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 108.73%.

A number of hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC boosted its position in shares of NextEra Energy Partners by 1.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,304 shares of the company’s stock valued at $100,000 after buying an additional 32 shares in the last quarter. AMP Capital Investors Ltd boosted its position in shares of NextEra Energy Partners by 2.2% in the third quarter. AMP Capital Investors Ltd now owns 21,598 shares of the company’s stock valued at $602,000 after buying an additional 460 shares in the last quarter. Eaton Vance Management boosted its position in shares of NextEra Energy Partners by 5.1% in the third quarter. Eaton Vance Management now owns 19,495 shares of the company’s stock valued at $545,000 after buying an additional 940 shares in the last quarter. First Trust Advisors LP boosted its position in shares of NextEra Energy Partners by 2.5% in the second quarter. First Trust Advisors LP now owns 41,161 shares of the company’s stock valued at $1,250,000 after buying an additional 985 shares in the last quarter. Finally, Wells Fargo & Company MN boosted its position in shares of NextEra Energy Partners by 1.1% in the third quarter. Wells Fargo & Company MN now owns 107,562 shares of the company’s stock valued at $3,009,000 after buying an additional 1,147 shares in the last quarter. 73.42% of the stock is owned by institutional investors and hedge funds.

WARNING: This article was posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are reading this article on another site, it was illegally stolen and reposted in violation of United States & international copyright & trademark law. The original version of this article can be viewed at https://www.thecerbatgem.com/2016/11/23/gabelli-upgrades-nextera-energy-partners-lp-nep-to-buy.html.

NextEra Energy Partners Company Profile

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.

5 Day Chart for NYSE:NEP

Receive News & Stock Ratings for NextEra Energy Partners LP Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Partners LP and related stocks with our FREE daily email newsletter.