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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been given an average rating of “Hold” by the fifteen analysts that are covering the firm, MarketBeat.com reports. Ten investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among analysts that have issued a report on the stock in the last year is $43.88.

A number of equities analysts recently issued reports on the company. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 9th. Raymond James reduced their target price on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. Evercore ISI assumed coverage on NextEra Energy Partners in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 target price for the company. Finally, StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors have recently modified their holdings of NEP. 1832 Asset Management L.P. grew its position in shares of NextEra Energy Partners by 599.4% during the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after acquiring an additional 2,230,374 shares during the period. ClearBridge Investments Ltd boosted its holdings in NextEra Energy Partners by 64.4% in the 3rd quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock worth $106,425,000 after buying an additional 1,404,318 shares during the last quarter. FMR LLC boosted its holdings in NextEra Energy Partners by 18.9% in the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock worth $144,506,000 after buying an additional 774,665 shares during the last quarter. M&G Investment Management Ltd. boosted its holdings in NextEra Energy Partners by 27.1% in the 4th quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock worth $91,322,000 after buying an additional 648,775 shares during the last quarter. Finally, Verition Fund Management LLC acquired a new stake in NextEra Energy Partners in the 4th quarter worth about $14,269,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Up 0.2 %

NextEra Energy Partners stock opened at $27.13 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. The stock has a market capitalization of $2.53 billion, a price-to-earnings ratio of 12.74 and a beta of 1.00. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $64.43. The business has a fifty day moving average price of $28.31 and a 200-day moving average price of $27.19.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The business had revenue of $232.00 million during the quarter, compared to analyst estimates of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. Equities research analysts forecast that NextEra Energy Partners will post 0.9 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were given a dividend of $0.88 per share. The ex-dividend date was Monday, February 5th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a dividend yield of 12.97%. NextEra Energy Partners’s dividend payout ratio (DPR) is 165.26%.

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.