Analysts Set NextEra Energy Partners, LP (NYSE:NEP) Target Price at $25.21

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) has earned a consensus recommendation of "Hold" from the seventeen analysts that are presently covering the company, MarketBeat.com reports. Two research analysts have rated the stock with a sell recommendation, eleven have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year target price among analysts that have issued ratings on the stock in the last year is $25.21.

Several research analysts have weighed in on the company. BNP Paribas began coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an "underperform" rating and a $15.00 price objective on the stock. UBS Group decreased their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating for the company in a research note on Monday, September 30th. Evercore ISI dropped their price objective on NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. Guggenheim lowered NextEra Energy Partners from a "buy" rating to a "neutral" rating and reduced their price objective for the company from $37.00 to $22.00 in a report on Monday, October 28th. Finally, BMO Capital Markets lowered their target price on NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating on the stock in a research note on Monday, October 21st.

Institutional Investors Weigh In On NextEra Energy Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of NextEra Energy Partners in the second quarter worth approximately $51,000. Eastern Bank purchased a new stake in NextEra Energy Partners in the third quarter valued at approximately $57,000. McIlrath & Eck LLC purchased a new stake in NextEra Energy Partners in the third quarter valued at approximately $63,000. Finally, Central Pacific Bank Trust Division lifted its position in NextEra Energy Partners by 153.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider's stock valued at $110,000 after purchasing an additional 3,750 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company's stock.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $18.11 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $22.76. NextEra Energy Partners has a 12 month low of $15.55 and a 12 month high of $35.15. The firm has a market capitalization of $1.69 billion, a PE ratio of 8.31 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company's revenue was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm earned $0.57 earnings per share. Analysts forecast that NextEra Energy Partners will post 1.96 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a dividend yield of 20.27%. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners's payout ratio is 168.35%.

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.