Nextera Energy Partners LP (NYSE:NEP) has been assigned an average recommendation of “Buy” from the nine ratings firms that are covering the stock, MarketBeat.com reports. Two analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokers that have covered the stock in the last year is $56.79.

A number of equities analysts have commented on the stock. Mizuho reissued a “buy” rating and issued a $54.50 price target (up previously from $45.00) on shares of Nextera Energy Partners in a research note on Friday, December 13th. ValuEngine cut shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Tuesday, December 3rd. Finally, Oppenheimer reissued a “buy” rating and issued a $63.00 price target on shares of Nextera Energy Partners in a research note on Friday, January 24th.

Hedge funds have recently added to or reduced their stakes in the business. Cubist Systematic Strategies LLC raised its holdings in Nextera Energy Partners by 39.1% in the 4th quarter. Cubist Systematic Strategies LLC now owns 18,254 shares of the solar energy provider’s stock worth $961,000 after purchasing an additional 5,134 shares in the last quarter. Gabelli Funds LLC raised its holdings in Nextera Energy Partners by 94.6% in the 4th quarter. Gabelli Funds LLC now owns 217,964 shares of the solar energy provider’s stock worth $11,476,000 after purchasing an additional 105,964 shares in the last quarter. First Republic Investment Management Inc. raised its holdings in Nextera Energy Partners by 2.7% in the 4th quarter. First Republic Investment Management Inc. now owns 11,362 shares of the solar energy provider’s stock worth $598,000 after purchasing an additional 299 shares in the last quarter. UBS Asset Management Americas Inc. raised its holdings in Nextera Energy Partners by 14.0% in the 4th quarter. UBS Asset Management Americas Inc. now owns 17,970 shares of the solar energy provider’s stock worth $946,000 after purchasing an additional 2,212 shares in the last quarter. Finally, Marshall Wace LLP bought a new position in Nextera Energy Partners in the 4th quarter worth $11,784,000. 77.06% of the stock is owned by institutional investors and hedge funds.

NYSE:NEP traded up $0.98 during mid-day trading on Friday, hitting $60.06. 426,958 shares of the stock traded hands, compared to its average volume of 426,784. The business’s 50-day moving average price is $55.26 and its 200 day moving average price is $52.38. The company has a market cap of $3.54 billion, a PE ratio of -38.01, a price-to-earnings-growth ratio of 2.90 and a beta of 0.97. Nextera Energy Partners has a 12-month low of $41.74 and a 12-month high of $60.19. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.64.

Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Friday, January 24th. The solar energy provider reported $0.50 EPS for the quarter, beating the consensus estimate of $0.44 by $0.06. The company had revenue of $206.00 million during the quarter, compared to analysts’ expectations of $347.20 million. Nextera Energy Partners had a negative net margin of 8.89% and a negative return on equity of 1.38%. Nextera Energy Partners’s revenue for the quarter was up 32.9% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.39) earnings per share. Analysts anticipate that Nextera Energy Partners will post 2.24 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, February 14th. Shareholders of record on Thursday, February 6th will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a yield of 3.56%. The ex-dividend date of this dividend is Wednesday, February 5th. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.52. Nextera Energy Partners’s payout ratio is currently -141.72%.

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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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Analyst Recommendations for Nextera Energy Partners (NYSE:NEP)

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