Credit Suisse Group started coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research note released on Thursday morning. The firm issued an outperform rating and a $44.00 price objective on the solar energy provider’s stock.

Other analysts have also issued reports about the stock. Royal Bank Of Canada reiterated a hold rating and issued a $39.00 price target on shares of NextEra Energy Partners in a research report on Tuesday, October 10th. J P Morgan Chase & Co lowered their price target on shares of NextEra Energy Partners from $39.00 to $38.00 and set a neutral rating on the stock in a research report on Thursday, October 12th. Zacks Investment Research lowered shares of NextEra Energy Partners from a hold rating to a sell rating in a research report on Friday, September 29th. TheStreet lowered shares of NextEra Energy Partners from a b rating to a c+ rating in a research report on Thursday, October 26th. Finally, BidaskClub lowered shares of NextEra Energy Partners from a strong-buy rating to a buy rating in a research report on Thursday, August 10th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and eight have assigned a buy rating to the company’s stock. NextEra Energy Partners presently has an average rating of Hold and a consensus target price of $39.45.

NextEra Energy Partners (NEP) traded up $0.73 during mid-day trading on Thursday, hitting $40.09. 123,500 shares of the stock traded hands, compared to its average volume of 275,491. The firm has a market capitalization of $2,109.28, a price-to-earnings ratio of 28.17, a PEG ratio of 3.98 and a beta of 1.19. NextEra Energy Partners has a twelve month low of $23.90 and a twelve month high of $44.00. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 2.04.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Thursday, October 26th. The solar energy provider reported $0.01 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.36). The business had revenue of $177.00 million during the quarter, compared to analyst estimates of $243.16 million. NextEra Energy Partners had a net margin of 10.38% and a return on equity of 3.57%. sell-side analysts expect that NextEra Energy Partners will post 0.91 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were paid a dividend of $0.3925 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $1.57 annualized dividend and a dividend yield of 3.92%. NextEra Energy Partners’s dividend payout ratio is presently 113.77%.

Several institutional investors and hedge funds have recently made changes to their positions in NEP. Beach Investment Management LLC. lifted its stake in shares of NextEra Energy Partners by 1,005.7% during the second quarter. Beach Investment Management LLC. now owns 1,329,958 shares of the solar energy provider’s stock valued at $49,195,000 after buying an additional 1,209,675 shares during the period. Duff & Phelps Investment Management Co. purchased a new position in shares of NextEra Energy Partners during the second quarter valued at approximately $28,000,000. Janus Henderson Group PLC purchased a new position in shares of NextEra Energy Partners during the second quarter valued at approximately $17,150,000. BlackRock Inc. raised its stake in NextEra Energy Partners by 9.9% during the second quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock worth $120,672,000 after purchasing an additional 293,830 shares during the period. Finally, Eaton Vance Management raised its stake in NextEra Energy Partners by 51.3% during the second quarter. Eaton Vance Management now owns 642,071 shares of the solar energy provider’s stock worth $23,750,000 after purchasing an additional 217,787 shares during the period. 83.49% of the stock is currently owned by institutional investors and hedge funds.

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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 contracted natural gas pipeline assets.

Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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