NextEra Energy Partners, LP (NYSE:NEP) Receives $26.69 Average Price Target from Brokerages

NextEra Energy Partners, LP (NYSE:NEP) has received a consensus recommendation of “Hold” from the sixteen analysts that are currently covering the firm, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating on the company. The average twelve-month price objective among brokerages that have covered the stock in the last year is $26.69.

A number of analysts have commented on NEP shares. UBS Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Barclays restated an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Mizuho decreased their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. BNP Paribas assumed coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target on the stock. Finally, Jefferies Financial Group reduced their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 24th.

Institutional Investors Weigh In On NextEra Energy Partners

Large investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its stake in NextEra Energy Partners by 150.4% in the second 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 in the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of NextEra Energy Partners in the second quarter valued at about $51,000. Eastern Bank acquired a new position in NextEra Energy Partners during the 3rd quarter worth about $57,000. McIlrath & Eck LLC bought a new stake in NextEra Energy Partners during the 3rd quarter worth about $63,000. Finally, Central Bank & Trust Co. acquired a new stake in NextEra Energy Partners in the 2nd quarter valued at about $99,000. 66.01% of the stock is currently owned by institutional investors.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $17.18 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. NextEra Energy Partners has a one year low of $15.55 and a one year high of $35.15. The company has a fifty day moving average price of $22.38 and a 200 day moving average price of $26.01. The stock has a market cap of $1.61 billion, a P/E ratio of 7.88 and a beta of 1.10.

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). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same period in the prior year, the company posted $0.57 EPS. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Analysts anticipate that NextEra Energy Partners will post 1.36 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were issued a $0.9175 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 21.36%. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s payout ratio is presently 168.35%.

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.