Brokerages Set NextEra Energy Partners, LP (NYSE:NEP) Price Target at $26.69

Shares of NextEra Energy Partners, LP (NYSE:NEP) have received an average recommendation of “Hold” from the sixteen research firms that are currently covering the stock, Marketbeat reports. Three investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the company. The average 1 year price target among analysts that have issued a report on the stock in the last year is $26.69.

NEP has been the subject of a number of analyst reports. Mizuho decreased their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. UBS Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Raymond James downgraded NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. CIBC decreased their target price on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Finally, Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th.

NextEra Energy Partners Price Performance

NYSE NEP opened at $19.24 on Wednesday. The business’s fifty day moving average is $24.97 and its 200 day moving average is $27.41. NextEra Energy Partners has a fifty-two week low of $19.03 and a fifty-two week high of $35.15. The company has a market capitalization of $1.80 billion, a PE ratio of 8.87 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. Sell-side analysts predict that NextEra Energy Partners will post 1.45 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 19.07%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 6th. NextEra Energy Partners’s payout ratio is 168.35%.

Institutional Trading of NextEra Energy Partners

Several institutional investors and hedge funds have recently made changes to their positions in NEP. Ameritas Advisory Services LLC increased its position in NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after purchasing an additional 412 shares during the period. Brown Miller Wealth Management LLC lifted its stake in shares of NextEra Energy Partners by 2.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after purchasing an additional 433 shares during the period. Pathway Financial Advisers LLC lifted its stake in shares of NextEra Energy Partners by 0.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares during the period. Arizona State Retirement System lifted its stake in shares of NextEra Energy Partners by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its holdings in shares of NextEra Energy Partners by 4.6% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after buying an additional 581 shares during the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.