NextEra Energy Partners, LP (NYSE:NEP) Given Average Recommendation of "Hold" by Analysts

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) has earned a consensus recommendation of "Hold" from the sixteen brokerages that are covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating on the company. The average 12 month target price among analysts that have updated their coverage on the stock in the last year is $26.69.

Several research firms have recently commented on NEP. Morgan Stanley cut NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and cut their price target for the stock from $31.00 to $20.00 in a research note on Wednesday, July 31st. Guggenheim cut shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Jefferies Financial Group cut their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating for the company in a report on Thursday, October 24th. Mizuho lowered their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating on the stock in a report on Wednesday, October 9th. Finally, BNP Paribas assumed coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an "underperform" rating and a $15.00 target price on the stock.

NextEra Energy Partners Stock Performance

Shares of NEP traded up $0.43 during mid-day trading on Friday, reaching $16.78. 1,921,738 shares of the company's stock were exchanged, compared to its average volume of 2,727,133. The stock has a market capitalization of $1.57 billion, a PE ratio of 7.70 and a beta of 1.10. The business's fifty day simple moving average is $22.55 and its 200-day simple moving average is $26.18. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. NextEra Energy Partners has a 52-week low of $15.55 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last announced its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share 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 analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. NextEra Energy Partners's quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 EPS. On average, equities research analysts expect that NextEra Energy Partners will post 1.36 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders 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 21.87%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners's dividend payout ratio (DPR) is currently 168.35%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in NextEra Energy Partners by 3.6% during the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider's stock worth $19,127,000 after purchasing an additional 22,370 shares during the last quarter. Shell Asset Management Co. purchased a new position in shares of NextEra Energy Partners in the 1st quarter worth $393,000. Paloma Partners Management Co acquired a new position in NextEra Energy Partners in the first quarter valued at $363,000. Bayesian Capital Management LP purchased a new stake in NextEra Energy Partners during the first quarter valued at about $266,000. Finally, Janus Henderson Group PLC purchased a new position in shares of NextEra Energy Partners in the 1st quarter worth about $1,308,000. Hedge funds and other institutional investors own 66.01% of the company's stock.

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.