Nextera Energy Partners LP (NYSE:NEP) declared a dividend on Friday, January 26th, Fidelity reports. Stockholders of record on Monday, February 5th will be paid a dividend of 0.405 per share by the solar energy provider on Wednesday, February 14th. This represents a dividend yield of 0.00940985130111524%. The ex-dividend date of this dividend is Friday, February 2nd.
Nextera Energy Partners has raised its dividend payment by an average of 99.6% per year over the last three years and has increased its dividend every year for the last 2 years. Nextera Energy Partners has a dividend payout ratio of 172.5% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Nextera Energy Partners to earn $1.93 per share next year, which means the company should continue to be able to cover its $1.57 annual dividend with an expected future payout ratio of 81.3%.
Nextera Energy Partners (NYSE NEP) opened at $43.04 on Friday. The stock has a market cap of $2,279.63, a P/E ratio of 31.19, a P/E/G ratio of 2.29 and a beta of 1.20. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.20 and a quick ratio of 3.20. Nextera Energy Partners has a one year low of $27.47 and a one year high of $44.24.
A number of research analysts recently issued reports on the stock. Guggenheim assumed coverage on shares of Nextera Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price objective on the stock. Royal Bank of Canada reissued a “hold” rating and issued a $39.00 price objective on shares of Nextera Energy Partners in a research note on Tuesday, October 10th. JPMorgan Chase & Co. decreased their price objective on shares of Nextera Energy Partners from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Bank of America reissued an “underperform” rating and issued a $35.00 price objective on shares of Nextera Energy Partners in a research note on Tuesday, October 24th. Finally, Zacks Investment Research cut shares of Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. Nextera Energy Partners currently has an average rating of “Hold” and a consensus target price of $40.38.
An institutional investor recently raised its position in Nextera Energy Partners stock. Northern Trust Corp raised its stake in Nextera Energy Partners LP (NYSE:NEP) by 19.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,048 shares of the solar energy provider’s stock after buying an additional 3,154 shares during the period. Northern Trust Corp’s holdings in Nextera Energy Partners were worth $705,000 at the end of the most recent quarter. 83.57% of the stock is currently owned by institutional investors.
Nextera Energy Partners Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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