NextEra Energy Partners (NYSE:NEP) PT Lowered to $27.00

NextEra Energy Partners (NYSE:NEP) had its price target trimmed by Jefferies Financial Group from $28.00 to $27.00 in a research note released on Thursday, Benzinga reports. The brokerage currently has a buy rating on the solar energy provider’s stock.

Several other brokerages have also recently commented on NEP. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $22.00 in a research report on Thursday. Barclays reaffirmed an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. Mizuho decreased their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. BNP Paribas started coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target for the company. Finally, StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and a consensus price target of $27.85.

NextEra Energy Partners Trading Up 0.9 %

Shares of NextEra Energy Partners stock traded up $0.18 during trading on Thursday, hitting $21.17. The stock had a trading volume of 332,938 shares, compared to its average volume of 1,453,190. The stock has a 50 day simple moving average of $25.53 and a 200 day simple moving average of $27.73. NextEra Energy Partners has a 1 year low of $20.28 and a 1 year high of $35.15. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $1.98 billion, a PE ratio of 6.60 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data 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 negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the previous year, the business posted $0.57 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that NextEra Energy Partners will post 2.2 EPS for the current fiscal year.

NextEra Energy Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be issued a dividend of $0.9175 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 17.34%. NextEra Energy Partners’s payout ratio is presently 113.84%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. M&G Plc bought a new stake in NextEra Energy Partners in the 1st quarter valued at $83,069,000. Commerce Bank acquired a new position in shares of NextEra Energy Partners during the 1st quarter worth $15,597,000. Swedbank AB acquired a new position in NextEra Energy Partners during the first quarter worth about $9,927,000. ClearBridge Investments Ltd increased its position in NextEra Energy Partners by 6.4% during the 1st quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after purchasing an additional 250,456 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of NextEra Energy Partners in the 2nd quarter valued at $5,452,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.