NextEra Energy Partners (NYSE:NEP - Free Report) had its price target reduced by CIBC from $26.00 to $21.00 in a report published on Wednesday,Benzinga reports. They currently have a neutral rating on the solar energy provider's stock.
Several other analysts have also weighed in on the company. BNP Paribas initiated coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an "underperform" rating and a $15.00 price target on the stock. Scotiabank reduced their target price on NextEra Energy Partners from $26.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Thursday, December 12th. BMO Capital Markets decreased their price target 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. Barclays reiterated an "underweight" rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Finally, Jefferies Financial Group reduced 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. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners has an average rating of "Hold" and a consensus price target of $25.21.
Read Our Latest Stock Report on NextEra Energy Partners
NextEra Energy Partners Price Performance
Shares of NEP traded down $0.58 during mid-day trading on Wednesday, hitting $18.29. 1,076,516 shares of the stock were exchanged, compared to its average volume of 1,155,903. The firm has a 50-day moving average of $17.80 and a two-hundred day moving average of $22.94. NextEra Energy Partners has a 52-week low of $15.55 and a 52-week high of $35.15. The company has a market cap of $1.71 billion, a PE ratio of 8.39 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.
NextEra Energy Partners (NYSE:NEP - Get Free Report) last announced its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same period in the previous year, the business posted $0.57 EPS. The firm's revenue was up 3.6% on a year-over-year basis. On average, equities analysts predict that NextEra Energy Partners will post 1.96 earnings per share for the current year.
NextEra Energy Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 20.07%. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's dividend payout ratio (DPR) is currently 168.35%.
Institutional Investors Weigh In On NextEra Energy Partners
A number of large investors have recently bought and sold shares of NEP. Northwestern Mutual Wealth Management Co. lifted its position in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock valued at $46,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC purchased a new position in NextEra Energy Partners during the second quarter valued at approximately $51,000. Eastern Bank purchased a new position in shares of NextEra Energy Partners during the 3rd quarter valued at approximately $57,000. McIlrath & Eck LLC acquired a new stake in NextEra Energy Partners during the third quarter valued at $63,000. Finally, Central Pacific Bank Trust Division increased its holdings in NextEra Energy Partners by 153.1% in 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 buying an additional 3,750 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company's stock.
NextEra Energy Partners Company Profile
(
Get Free Report)
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.
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