NextEra Energy Partners, LP (NYSE:NEP) Given Consensus Rating of “Hold” by Brokerages

Shares of NextEra Energy Partners, LP (NYSE:NEP) have been given a consensus rating of “Hold” by the seventeen analysts that are currently covering the firm, Marketbeat reports. Two analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $33.79.

A number of research firms have recently commented on NEP. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Thursday. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Finally, BMO Capital Markets reduced their target price on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd.

Hedge Funds Weigh In On NextEra Energy Partners

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ClearBridge Investments Ltd lifted its position in NextEra Energy Partners by 6.4% during the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after purchasing an additional 250,456 shares in the last quarter. M&G Investment Management Ltd. boosted its stake in NextEra Energy Partners by 27.1% in the 4th quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock worth $91,322,000 after purchasing an additional 648,775 shares during the period. M&G Plc bought a new position in NextEra Energy Partners in the 1st quarter worth approximately $83,069,000. 1832 Asset Management L.P. boosted its stake in NextEra Energy Partners by 599.4% in the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock worth $79,142,000 after purchasing an additional 2,230,374 shares during the period. Finally, Kayne Anderson Capital Advisors LP boosted its stake in NextEra Energy Partners by 18.7% in the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,663,736 shares of the solar energy provider’s stock worth $50,594,000 after purchasing an additional 261,523 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Trading Up 1.0 %

NYSE NEP opened at $26.20 on Monday. NextEra Energy Partners has a fifty-two week low of $20.17 and a fifty-two week high of $57.29. 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 50 day simple moving average of $29.43 and a two-hundred day simple moving average of $29.04. The stock has a market cap of $2.45 billion, a P/E ratio of 8.59 and a beta of 1.04.

NextEra Energy Partners (NYSE:NEP) last released its earnings results 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. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. On average, analysts forecast that NextEra Energy Partners will post 1.72 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be given a dividend of $0.905 per share. The ex-dividend date of this dividend is Tuesday, August 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.82%. NextEra Energy Partners’s payout ratio is 117.05%.

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.