NextEra Energy Partners, LP (NYSE:NEP) Receives Average Rating of "Hold" from Analysts

Shares of NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) have been assigned an average rating of "Hold" from the seventeen research firms that are presently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $24.64.

A number of research analysts have recently weighed in on NEP shares. Barclays reissued an "underweight" rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Friday, October 4th. Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Scotiabank decreased their target price on NextEra Energy Partners from $26.00 to $15.00 and set a "sector perform" rating for the company in a research report on Thursday, December 12th. UBS Group cut their price target on shares of 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. Finally, Guggenheim cut shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and decreased their price objective for the company from $37.00 to $22.00 in a report on Monday, October 28th.

NextEra Energy Partners Trading Up 0.6 %

NEP stock traded up $0.11 during midday trading on Monday, reaching $16.88. The stock had a trading volume of 1,357,142 shares, compared to its average volume of 1,353,199. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 7.74 and a beta of 1.06. NextEra Energy Partners has a twelve month low of $15.55 and a twelve month high of $35.15. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The business has a fifty day simple moving average of $17.57 and a two-hundred day simple moving average of $22.53.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its quarterly 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). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the prior year, the firm earned $0.57 EPS. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts expect that NextEra Energy Partners will post 2.04 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 21.75%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners's dividend payout ratio (DPR) is currently 168.35%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the business. M&G PLC boosted its stake in shares of NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock worth $85,738,000 after buying an additional 496,383 shares during the last quarter. Redwood Grove Capital LLC grew its stake in NextEra Energy Partners by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider's stock valued at $27,129,000 after purchasing an additional 161,436 shares in the last quarter. abrdn plc increased its position in shares of NextEra Energy Partners by 6.2% during the 3rd quarter. abrdn plc now owns 850,200 shares of the solar energy provider's stock worth $23,483,000 after purchasing an additional 49,400 shares during the last quarter. Rockefeller Capital Management L.P. raised its stake in shares of NextEra Energy Partners by 8.0% during the 3rd quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider's stock worth $17,417,000 after purchasing an additional 46,728 shares in the last quarter. Finally, Thrivent Financial for Lutherans bought a new position in shares of NextEra Energy Partners in the third quarter valued at $16,186,000. Institutional investors and hedge funds own 66.01% of the company's stock.

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.