Brokerages Set NextEra Energy Partners, LP (NYSE:NEP) PT at $25.21

NextEra Energy Partners, LP (NYSE:NEP) has been given a consensus rating of “Hold” by the seventeen brokerages that are presently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, twelve have issued a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $24.64.

NEP has been the topic of several research analyst reports. Mizuho dropped their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets restated a “market perform” rating and issued a $18.00 price objective (down from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. BNP Paribas began coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price on the stock. Evercore ISI reduced their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, Barclays reissued an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th.

Institutional Trading of NextEra Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Miller Wealth Management LLC raised its holdings in NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after buying an additional 433 shares during the period. Pathway Financial Advisers LLC lifted its holdings in shares of NextEra Energy Partners by 0.9% in 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 last quarter. Arizona State Retirement System boosted its position in shares of NextEra Energy Partners by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares during the period. Apollon Wealth Management LLC increased its holdings in NextEra Energy Partners by 5.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock valued at $340,000 after purchasing an additional 667 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its position in NextEra Energy Partners by 150.4% in 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. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

NYSE NEP opened at $17.09 on Monday. 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 12 month low of $15.55 and a 12 month high of $35.15. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.84 and a beta of 1.06. The company’s 50 day moving average is $17.53 and its two-hundred day moving average is $22.39.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (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 company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. During the same period last year, the business earned $0.57 earnings per share. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. As a group, research analysts anticipate that NextEra Energy Partners will post 2.04 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 21.48%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is presently 168.35%.

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.