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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have earned a consensus rating of “Hold” from the fifteen ratings firms that are covering the firm, Marketbeat Ratings reports. Ten investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $43.88.

A number of research analysts have issued reports on NEP shares. Barclays started coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price for the company. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a report on Tuesday, January 9th. Raymond James dropped their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Finally, StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th.

Institutional Trading of NextEra Energy Partners

A number of hedge funds have recently bought and sold shares of NEP. JPMorgan Chase & Co. boosted its position in NextEra Energy Partners by 2.8% during the first quarter. JPMorgan Chase & Co. now owns 29,854 shares of the solar energy provider’s stock worth $2,488,000 after acquiring an additional 800 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in NextEra Energy Partners by 43.2% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock worth $790,000 after acquiring an additional 2,858 shares during the last quarter. Private Advisor Group LLC boosted its position in NextEra Energy Partners by 123.8% during the first quarter. Private Advisor Group LLC now owns 5,466 shares of the solar energy provider’s stock worth $456,000 after acquiring an additional 3,024 shares during the last quarter. PNC Financial Services Group Inc. boosted its position in NextEra Energy Partners by 8.7% during the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the solar energy provider’s stock worth $406,000 after acquiring an additional 390 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in NextEra Energy Partners by 0.6% during the first quarter. Bank of Montreal Can now owns 65,199 shares of the solar energy provider’s stock worth $5,488,000 after acquiring an additional 402 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 0.2 %

NYSE NEP opened at $27.13 on Friday. The stock has a market capitalization of $2.53 billion, a P/E ratio of 12.74 and a beta of 1.00. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $64.43. The firm has a 50-day moving average price of $28.31 and a 200 day moving average price of $27.19. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35.

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

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were given a $0.88 dividend. The ex-dividend date of this dividend was Monday, February 5th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 annualized dividend and a dividend yield of 12.97%. NextEra Energy Partners’s dividend payout ratio is currently 165.26%.

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.