NextEra Energy Partners (NYSE:NEP) Stock Rating Upgraded by JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners (NYSE:NEP) from an underweight rating to a neutral rating in a research report report published on Thursday morning, Marketbeat reports. JPMorgan Chase & Co. currently has $22.00 target price on the solar energy provider’s stock, down from their previous target price of $25.00.

A number of other equities analysts have also weighed in on the stock. UBS Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Mizuho cut their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. BNP Paribas started coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective for the company. Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $38.00 to $30.00 in a research report on Monday, July 1st. Finally, BMO Capital Markets cut their price objective on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and an average target price of $27.85.

NextEra Energy Partners Price Performance

Shares of NYSE:NEP opened at $21.10 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.97 billion, a PE ratio of 6.64 and a beta of 1.06. NextEra Energy Partners has a twelve month low of $20.28 and a twelve month high of $35.15. The company has a 50-day moving average price of $25.44 and a two-hundred day moving average price of $27.64.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. NextEra Energy Partners’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.57 EPS. Equities analysts forecast that NextEra Energy Partners will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be paid a $0.9175 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a yield of 17.39%. The ex-dividend date of this dividend is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 113.84%.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Ameritas Advisory Services LLC raised its stake in NextEra Energy Partners by 1.4% in the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after purchasing an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC raised its stake in shares of NextEra Energy Partners by 2.4% during the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after acquiring an additional 433 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after acquiring an additional 454 shares in the last quarter. Arizona State Retirement System raised its stake in shares of NextEra Energy Partners by 2.0% during the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after acquiring an additional 509 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its stake in shares of NextEra Energy Partners by 4.6% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after acquiring an additional 581 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.