NextEra Energy Partners (NYSE:NEP) Earns “Market Perform” Rating from Oppenheimer

Oppenheimer reissued their market perform rating on shares of NextEra Energy Partners (NYSE:NEP) in a research report report published on Wednesday morning, Benzinga reports.

A number of other research firms also recently issued reports on NEP. Raymond James lowered their price target on NextEra Energy Partners from $50.00 to $45.00 and set an outperform rating for the company in a research report on Wednesday, April 3rd. StockNews.com raised NextEra Energy Partners to a sell rating in a research report on Tuesday, March 19th. Evercore ISI began coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They set an outperform rating and a $43.00 price target for the company. Barclays began coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They set an equal weight rating and a $32.00 price target for the company. Finally, CIBC downgraded NextEra Energy Partners from a sector outperform rating to a neutral rating and set a $35.00 price target for the company. in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners currently has an average rating of Hold and an average price target of $43.88.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock opened at $28.93 on Wednesday. The firm has a market capitalization of $2.71 billion, a P/E ratio of 9.49 and a beta of 1.00. The stock has a fifty day moving average price of $28.32 and a 200 day moving average price of $27.37. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $63.89. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.17) earnings per share. Equities research analysts anticipate that NextEra Energy Partners will post 0.86 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be given a $0.8925 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 12.34%. NextEra Energy Partners’s dividend payout ratio is presently 115.41%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its holdings in NextEra Energy Partners by 18.9% in the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after purchasing an additional 774,665 shares during the last quarter. ClearBridge Investments Ltd boosted its holdings in NextEra Energy Partners by 9.1% in the fourth quarter. ClearBridge Investments Ltd now owns 3,910,977 shares of the solar energy provider’s stock valued at $118,933,000 after purchasing an additional 327,641 shares during the last quarter. M&G Investment Management Ltd. boosted its holdings in NextEra Energy Partners by 27.1% in the fourth quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock valued at $91,322,000 after purchasing an additional 648,775 shares during the last quarter. 1832 Asset Management L.P. boosted its holdings in NextEra Energy Partners by 599.4% in the fourth 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 purchasing an additional 2,230,374 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP boosted its holdings in NextEra Energy Partners by 18.7% in the fourth quarter. Kayne Anderson Capital Advisors LP now owns 1,663,736 shares of the solar energy provider’s stock valued at $50,594,000 after purchasing an additional 261,523 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

About NextEra Energy Partners

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.