NextEra Energy Partners, LP (NYSE:NEP) Receives $26.00 Average Price Target from Analysts

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) has been given a consensus recommendation of "Hold" by the seventeen analysts that are presently covering the stock, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokers that have updated their coverage on the stock in the last year is $26.00.

A number of equities analysts have commented on NEP shares. Barclays reissued an "underweight" rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th. Morgan Stanley raised shares of NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 price objective on the stock in a report on Monday, December 2nd. BMO Capital Markets dropped their target price on shares of NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating for the company in a research note on Monday, October 21st. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an "underweight" rating to a "neutral" rating and decreased their price target for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. Finally, Mizuho dropped their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th.

Institutional Trading of NextEra Energy Partners

A number of large investors have recently made changes to their positions in the company. M&G PLC grew its stake in NextEra Energy Partners by 19.3% in the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock valued at $85,738,000 after acquiring an additional 496,383 shares during the period. Redwood Grove Capital LLC lifted its holdings in shares of NextEra Energy Partners by 19.7% during the 3rd 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 grew its position in shares of NextEra Energy Partners by 6.2% in the 3rd quarter. abrdn plc now owns 850,200 shares of the solar energy provider's stock valued at $23,483,000 after purchasing an additional 49,400 shares during the period. Raymond James & Associates increased its stake in NextEra Energy Partners by 6.2% during the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider's stock worth $22,172,000 after purchasing an additional 46,718 shares in the last quarter. Finally, Rockefeller Capital Management L.P. raised its holdings in 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 buying an additional 46,728 shares during the period. Institutional investors own 66.01% of the company's stock.

NextEra Energy Partners Stock Performance

NEP stock remained flat at $17.50 during trading on Thursday. 1,532,853 shares of the company traded hands, compared to its average volume of 1,580,403. The stock has a market cap of $1.64 billion, a PE ratio of 8.03 and a beta of 1.07. NextEra Energy Partners has a 12-month low of $15.55 and a 12-month high of $35.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The stock has a 50 day moving average of $19.45 and a 200 day moving average of $24.22.

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

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $3.67 annualized dividend and a yield of 20.97%. NextEra Energy Partners's dividend payout ratio (DPR) is presently 168.35%.

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.