Analysts Set NextEra Energy Partners, LP (NYSE:NEP) Price Target at $38.20

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

Several research firms have issued reports on NEP. StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Thursday. Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research note on Wednesday, June 12th. Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. Finally, Barclays cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $32.00 to $25.00 in a research report on Thursday, June 13th.

NextEra Energy Partners Price Performance

Shares of NYSE:NEP opened at $26.19 on Monday. The firm’s 50 day moving average price is $29.59 and its 200-day moving average price is $29.08. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.45 billion, a PE ratio of 8.59 and a beta of 1.03. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $57.29.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. During the same period last year, the firm earned $0.53 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts expect that NextEra Energy Partners will post 1.85 EPS for the current year.

NextEra Energy Partners Increases Dividend

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

Hedge Funds Weigh In On NextEra Energy Partners

A number of large investors have recently bought and sold shares of the business. CWM LLC increased its stake in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after purchasing an additional 511 shares during the period. Newbridge Financial Services Group Inc. increased its stake in NextEra Energy Partners by 46.0% in the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after buying an additional 532 shares during the period. Hexagon Capital Partners LLC lifted its holdings in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 627 shares in the last quarter. California State Teachers Retirement System boosted its position in NextEra Energy Partners by 1.0% in the 1st quarter. California State Teachers Retirement System now owns 84,025 shares of the solar energy provider’s stock valued at $2,527,000 after buying an additional 800 shares during the period. Finally, Arizona State Retirement System grew its stake in NextEra Energy Partners by 3.2% in the 4th quarter. Arizona State Retirement System now owns 26,119 shares of the solar energy provider’s stock worth $794,000 after acquiring an additional 806 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

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.