NextEra Energy Partners (NYSE:NEP) Rating Reiterated by Barclays

Barclays reissued their underweight rating on shares of NextEra Energy Partners (NYSE:NEP) in a research note issued to investors on Friday morning, Benzinga reports. Barclays currently has a $25.00 target price on the solar energy provider’s stock.

Other analysts have also issued research reports about the company. StockNews.com raised NextEra Energy Partners to a sell rating in a report on Thursday, July 25th. Mizuho lowered shares of NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 price target on the stock. in a report on Wednesday, June 12th. Morgan Stanley downgraded shares of NextEra Energy Partners from an equal weight rating to an underweight rating and reduced their price objective for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. BNP Paribas began coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an underperform rating and a $15.00 target price on the stock. Finally, Jefferies Financial Group assumed coverage on shares of NextEra Energy Partners in a research note on Thursday, September 19th. They set a buy rating and a $28.00 price target for the company. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and a consensus price target of $30.08.

NextEra Energy Partners Stock Up 1.0 %

NEP opened at $26.06 on Friday. The business has a 50 day moving average of $25.62 and a 200-day moving average of $28.11. The stock has a market capitalization of $2.44 billion, a price-to-earnings ratio of 8.54 and a beta of 1.06. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same quarter in the prior year, the business earned $0.53 earnings per share. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. As a group, sell-side analysts anticipate that NextEra Energy Partners will post 2.2 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a dividend yield of 13.89%. The ex-dividend date was Tuesday, August 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NEP. Richardson Financial Services Inc. acquired a new stake in NextEra Energy Partners in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC grew its stake in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares during the last quarter. Central Pacific Bank Trust Division acquired a new stake in shares of NextEra Energy Partners in the first quarter valued at approximately $36,000. FinTrust Capital Advisors LLC bought a new position in NextEra Energy Partners in the 1st quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after buying an additional 1,000 shares in the last quarter. 66.01% of the stock is owned by institutional investors.

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.