NextEra Energy Partners, LP (NYSE:NEP) Receives Average Recommendation of “Hold” from Analysts

NextEra Energy Partners, LP (NYSE:NEP) has been given a consensus rating of “Hold” by the fifteen ratings firms that are presently covering the company, Marketbeat.com reports. Ten equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price objective among analysts that have issued a report on the stock in the last year is $41.60.

NEP has been the topic of a number of recent research reports. Evercore ISI assumed coverage on shares of NextEra Energy Partners in a report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price objective on the stock. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. JPMorgan Chase & Co. lifted their target price on NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Finally, CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Tuesday, January 9th.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $30.15 on Wednesday. The company has a fifty day moving average price of $28.62 and a 200 day moving average price of $27.87. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $63.89. The firm has a market cap of $2.82 billion, a PE ratio of 9.89 and a beta of 1.01. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.63. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. NextEra Energy Partners’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.17) earnings per share. Research analysts predict that NextEra Energy Partners will post 1.54 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be paid a $0.8925 dividend. The ex-dividend date of this dividend is Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a yield of 11.84%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio is 115.41%.

Institutional Investors Weigh In On NextEra Energy Partners

Several hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust grew its holdings in shares of NextEra Energy Partners by 60.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 454 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in NextEra Energy Partners by 4.8% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock valued at $320,000 after buying an additional 496 shares during the period. CWM LLC increased its holdings in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the period. Newbridge Financial Services Group Inc. raised its position in shares of NextEra Energy Partners by 46.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock valued at $51,000 after buying an additional 532 shares in the last quarter. Finally, Gilman Hill Asset Management LLC lifted its holdings in shares of NextEra Energy Partners by 5.4% during the 4th quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock worth $342,000 after acquiring an additional 575 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.