NextEra Energy Partners (NYSE:NEP) Earns Equal Weight Rating from Analysts at Barclays

Barclays started coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research note published on Wednesday morning, MarketBeat.com reports. The brokerage issued an equal weight rating and a $32.00 price target on the solar energy provider’s stock.

Several other equities analysts also recently commented on NEP. Marathon Capitl restated an equal weight rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Mizuho decreased their price target on shares of NextEra Energy Partners from $40.00 to $33.00 and set a buy rating on the stock in a research note on Tuesday, December 12th. Raymond James decreased their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an outperform rating on the stock in a research note on Wednesday, April 3rd. StockNews.com upgraded shares of NextEra Energy Partners to a sell rating in a research note on Tuesday, March 19th. Finally, CIBC downgraded shares of 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 note on Tuesday, January 9th. One equities 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 company. According to data from MarketBeat.com, NextEra Energy Partners has a consensus rating of Hold and an average target price of $45.53.

NextEra Energy Partners Price Performance

Shares of NEP opened at $27.54 on Wednesday. The firm has a market capitalization of $2.57 billion, a PE ratio of 12.93 and a beta of 1.00. The company’s 50-day moving average is $28.41 and its 200-day moving average is $27.43. NextEra Energy Partners has a fifty-two week low of $20.17 and a fifty-two week high of $64.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28.

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

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were paid a $0.88 dividend. This is an increase 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 12.78%. The ex-dividend date of this dividend was Monday, February 5th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 165.26%.

Institutional Investors Weigh In On NextEra Energy Partners

Hedge funds have recently made changes to their positions in the stock. CWM LLC boosted its stake in shares of 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 purchasing an additional 511 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of NextEra Energy Partners in the 4th quarter valued at approximately $27,000. MV Capital Management Inc. acquired a new stake in shares of NextEra Energy Partners in the 4th quarter valued at approximately $30,000. Heritage Wealth Advisors acquired a new stake in shares of NextEra Energy Partners in the 4th quarter valued at approximately $33,000. Finally, ORG Partners LLC boosted its stake in shares of NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after purchasing an additional 670 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.