NextEra Energy Partners (NYSE:NEP) Shares Up 1.9%

NextEra Energy Partners, LP (NYSE:NEP)’s stock price shot up 1.9% on Wednesday . The stock traded as high as $25.24 and last traded at $25.19. 225,976 shares changed hands during trading, a decline of 84% from the average session volume of 1,446,835 shares. The stock had previously closed at $24.72.

Wall Street Analysts Forecast Growth

NEP has been the topic of several recent analyst reports. Mizuho downgraded NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, June 12th. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Wolfe Research downgraded shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Finally, Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and reduced their target price for the company from $38.00 to $30.00 in a research note on Monday, July 1st. Four equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and a consensus price target of $33.00.

NextEra Energy Partners Stock Down 2.2 %

The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $25.91 and a two-hundred day simple moving average of $28.38. The stock has a market capitalization of $2.27 billion, a P/E ratio of 8.13 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last posted its 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. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. Equities research analysts forecast that NextEra Energy Partners, LP will post 1.74 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a yield of 14.93%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 118.69%.

Institutional Trading of NextEra Energy Partners

Large investors have recently made changes to their positions in the business. CWM LLC raised its holdings in shares of NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. Richardson Financial Services Inc. bought a new position in NextEra Energy Partners in the 4th quarter worth approximately $27,000. 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 worth $28,000 after buying an additional 627 shares in the last quarter. Heritage Wealth Advisors acquired a new position in NextEra Energy Partners during the 4th quarter worth $33,000. Finally, Central Pacific Bank Trust Division bought a new position in NextEra Energy Partners in the 1st quarter valued at $36,000. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Company Profile

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.