NextEra Energy Partners (NYSE:NEP) Downgraded to Neutral at Mizuho

Mizuho cut shares of NextEra Energy Partners (NYSE:NEP) from a buy rating to a neutral rating in a report issued on Wednesday, Marketbeat reports. Mizuho currently has $33.00 price objective on the solar energy provider’s stock.

Several other equities research analysts have also recently commented on NEP. Raymond James lowered their price target on NextEra Energy Partners from $50.00 to $45.00 and set an outperform rating for the company in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. restated an underweight rating and set a $25.00 price target on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Barclays started coverage on shares of NextEra Energy Partners in a research note on Wednesday, April 10th. They issued an equal weight rating and a $32.00 price objective for the company. Oppenheimer reissued a market perform rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. Finally, Marathon Capitl reaffirmed an equal weight rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Hold and a consensus target price of $38.79.

NextEra Energy Partners Stock Down 3.2 %

NextEra Energy Partners stock opened at $27.95 on Wednesday. The firm’s 50 day moving average price is $30.92 and its two-hundred day moving average price is $29.33. The firm has a market cap of $2.61 billion, a PE ratio of 9.16 and a beta of 1.07. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $63.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same period last year, the company earned ($0.17) earnings per share. NextEra Energy Partners’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts predict that NextEra Energy Partners will post 1.89 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a dividend of $0.8925 per share. The ex-dividend date was Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a yield of 12.77%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is 117.05%.

Institutional Trading of NextEra Energy Partners

A number of hedge funds have recently bought and sold shares of NEP. M&G Plc acquired a new position in shares of NextEra Energy Partners during the first quarter valued at about $83,069,000. 1832 Asset Management L.P. raised its holdings 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 valued at $79,142,000 after acquiring an additional 2,230,374 shares in the last quarter. ClearBridge Investments Ltd raised its holdings in NextEra Energy Partners by 64.4% in the 3rd quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock valued at $106,425,000 after acquiring an additional 1,404,318 shares in the last quarter. FMR LLC lifted its position in shares of NextEra Energy Partners by 18.9% in the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock worth $144,506,000 after acquiring an additional 774,665 shares during the period. Finally, M&G Investment Management Ltd. grew its holdings in shares of NextEra Energy Partners by 27.1% during 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 in the last quarter. 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.