NextEra Energy Partners, LP (NEP) To Go Ex-Dividend on May 6th

NextEra Energy Partners, LP (NYSE:NEP) announced a quarterly dividend on Tuesday, April 23rd, Wall Street Journal reports. Investors of record on Tuesday, May 7th will be given a dividend of 0.8925 per share by the solar energy provider on Wednesday, May 15th. This represents a $3.57 annualized dividend and a dividend yield of 12.12%. The ex-dividend date of this dividend is Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88.

NextEra Energy Partners has increased its dividend payment by an average of 14.3% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. NextEra Energy Partners has a dividend payout ratio of 345.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NextEra Energy Partners to earn $0.92 per share next year, which means the company may not be able to cover its $3.52 annual dividend with an expected future payout ratio of 382.6%.

NextEra Energy Partners Stock Performance

NEP stock opened at $29.46 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33. The stock has a market cap of $2.75 billion, a P/E ratio of 9.71 and a beta of 1.00. The firm has a 50 day simple moving average of $28.31 and a 200 day simple moving average of $27.36. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $63.89.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. The firm had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.17) earnings per share. Research analysts anticipate that NextEra Energy Partners will post 0.83 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

NEP has been the subject of a number of analyst reports. Barclays initiated coverage on shares of NextEra Energy Partners in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price for the company. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Raymond James reduced their price objective on shares of 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. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Finally, Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and a consensus price target of $43.88.

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.