BMO Capital Markets Trims NextEra Energy Partners (NYSE:NEP) Target Price to $26.00

NextEra Energy Partners (NYSE:NEP) had its target price cut by BMO Capital Markets from $28.00 to $26.00 in a report issued on Monday, Benzinga reports. They currently have an outperform rating on the solar energy provider’s stock.

Other analysts also recently issued research reports about the stock. Barclays reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. Mizuho decreased their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $27.85.

NextEra Energy Partners Stock Down 0.1 %

NEP opened at $20.98 on Monday. NextEra Energy Partners has a one year low of $20.28 and a one year high of $35.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The stock has a market capitalization of $1.96 billion, a P/E ratio of 6.60 and a beta of 1.06. The business’s 50-day simple moving average is $25.53 and its 200-day simple moving average is $27.73.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm 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 0.40% and a net margin of 24.42%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. Analysts anticipate that NextEra Energy Partners will post 2.2 EPS for the current year.

NextEra Energy Partners Announces Dividend

The business also recently declared a dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. The ex-dividend date is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 113.84%.

Institutional Trading of NextEra Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Hexagon Capital Partners LLC increased its holdings in NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 627 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in NextEra Energy Partners in the 1st quarter valued at approximately $36,000. FinTrust Capital Advisors LLC acquired a new position in NextEra Energy Partners during the first quarter worth $45,000. Northwestern Mutual Wealth Management Co. boosted 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 worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC acquired a new stake in NextEra Energy Partners in the first quarter valued at $48,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.