Analysts Set NextEra Energy Partners, LP (NYSE:NEP) PT at $26.69

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

A number of brokerages have issued reports on NEP. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an "underweight" rating to a "neutral" rating and reduced their price objective for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. Morgan Stanley lowered shares of NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and lowered their price objective for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. UBS Group reduced their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, September 30th. BMO Capital Markets dropped their price objective 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. Finally, Raymond James downgraded NextEra Energy Partners from an "outperform" rating to a "market perform" rating in a research report on Tuesday, July 9th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Ameritas Advisory Services LLC boosted its holdings in shares of NextEra Energy Partners by 1.4% during the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider's stock worth $807,000 after purchasing an additional 412 shares during the period. Brown Miller Wealth Management LLC lifted its holdings in NextEra Energy Partners by 2.4% in the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider's stock worth $509,000 after buying an additional 433 shares during the period. Pathway Financial Advisers LLC grew its holdings in shares of NextEra Energy Partners by 0.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider's stock worth $1,336,000 after acquiring an additional 454 shares during the period. Arizona State Retirement System raised its position in shares of NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider's stock worth $724,000 after acquiring an additional 509 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its position in shares of NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider's stock worth $362,000 after acquiring an additional 581 shares in the last quarter. 66.01% of the stock is owned by institutional investors.

NextEra Energy Partners Stock Down 0.1 %

NYSE NEP traded down $0.02 during trading hours on Wednesday, hitting $19.25. The company's stock had a trading volume of 1,449,221 shares, compared to its average volume of 1,491,750. The company has a market capitalization of $1.80 billion, a PE ratio of 8.83 and a beta of 1.06. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a 52 week low of $19.16 and a 52 week high of $35.15. The company's 50-day simple moving average is $25.21 and its two-hundred day simple moving average is $27.53.

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) earnings per share (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 company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. During the same quarter last year, the company posted $0.57 EPS. The company's quarterly revenue was up 3.6% compared to the same quarter last year. Research analysts anticipate that NextEra Energy Partners will post 1.77 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. The ex-dividend date is Wednesday, November 6th. This represents a $3.67 annualized dividend and a yield of 19.06%. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's payout ratio is 166.06%.

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.