Nextera Energy Partners LP (NYSE:NEP) has been given an average rating of “Hold” by the twelve brokerages that are currently covering the stock, MarketBeat reports. Seven investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $47.07.
Several research analysts have commented on the company. Zacks Investment Research downgraded Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Bank of America downgraded Nextera Energy Partners from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Wells Fargo & Co lifted their target price on Nextera Energy Partners from $50.00 to $55.00 and gave the stock an “outperform” rating in a report on Monday, September 17th. Morgan Stanley lifted their price objective on Nextera Energy Partners from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Finally, Mizuho started coverage on Nextera Energy Partners in a research report on Monday, August 13th. They issued a “buy” rating and a $54.50 price objective for the company.
Several hedge funds have recently bought and sold shares of NEP. Raymond James & Associates raised its position in shares of Nextera Energy Partners by 694.9% in the 2nd quarter. Raymond James & Associates now owns 514,192 shares of the solar energy provider’s stock worth $23,997,000 after acquiring an additional 449,505 shares in the last quarter. Loomis Sayles & Co. L P raised its position in shares of Nextera Energy Partners by 1,493.9% in the 3rd quarter. Loomis Sayles & Co. L P now owns 271,185 shares of the solar energy provider’s stock worth $13,152,000 after acquiring an additional 254,171 shares in the last quarter. Morgan Stanley raised its position in shares of Nextera Energy Partners by 29.6% in the 3rd quarter. Morgan Stanley now owns 988,341 shares of the solar energy provider’s stock worth $47,935,000 after acquiring an additional 225,797 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Nextera Energy Partners by 48.5% in the 3rd quarter. Vanguard Group Inc. now owns 476,131 shares of the solar energy provider’s stock worth $23,093,000 after acquiring an additional 155,451 shares in the last quarter. Finally, Nordea Investment Management AB bought a new position in shares of Nextera Energy Partners in the 3rd quarter worth about $4,783,000. 80.21% of the stock is owned by hedge funds and other institutional investors.
Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Tuesday, October 23rd. The solar energy provider reported $0.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.13. The firm had revenue of $178.00 million for the quarter, compared to the consensus estimate of $283.40 million. Nextera Energy Partners had a return on equity of 7.34% and a net margin of 13.55%. Equities research analysts predict that Nextera Energy Partners will post 3.1 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Tuesday, November 6th were given a $0.45 dividend. The ex-dividend date was Monday, November 5th. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 3.85%. Nextera Energy Partners’s dividend payout ratio (DPR) is 272.73%.
About Nextera Energy Partners
NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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