NextEra Energy Partners (NYSE:NEP) Reaches New 1-Year Low – Time to Sell?

NextEra Energy Partners, LP (NYSE:NEP)’s stock price reached a new 52-week low during trading on Tuesday . The company traded as low as $16.79 and last traded at $16.82, with a volume of 250152 shares trading hands. The stock had previously closed at $17.29.

Analyst Ratings Changes

NEP has been the topic of a number of research analyst reports. BMO Capital Markets reduced their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Mizuho cut 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. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and decreased their target price for the company from $25.00 to $22.00 in a report on Thursday, October 24th. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Finally, Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $31.00 to $20.00 in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.69.

NextEra Energy Partners Price Performance

The firm has a market capitalization of $1.48 billion, a P/E ratio of 7.37 and a beta of 1.10. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $24.06 and its 200 day moving average is $26.96.

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). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.57 earnings per share. As a group, analysts forecast that NextEra Energy Partners, LP will post 1.41 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be paid a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a dividend yield of 23.21%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 168.35%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Northwestern Mutual Wealth Management Co. increased its holdings in shares of 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 purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners in the 2nd quarter valued at approximately $51,000. Eastern Bank acquired a new stake in NextEra Energy Partners in the 3rd quarter valued at $57,000. Central Bank & Trust Co. bought a new stake in NextEra Energy Partners in the second quarter valued at $99,000. Finally, International Assets Investment Management LLC bought a new stake in NextEra Energy Partners in the second quarter valued at $104,000. 66.01% of the stock is owned by institutional investors.

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.