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

Shares of NextEra Energy Partners, LP (NYSE:NEP) have received an average rating of “Hold” from the sixteen analysts that are presently covering the stock, Marketbeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and three have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $26.69.

A number of equities research analysts have weighed in on the stock. BMO Capital Markets cut their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 21st. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price for the company. 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 report on Wednesday, October 9th. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and dropped their price target for the company from $25.00 to $22.00 in a report on Thursday, October 24th. Finally, Jefferies Financial Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, October 24th.

Hedge Funds Weigh In On NextEra Energy Partners

Institutional investors and hedge funds have recently bought and sold shares of the business. Hexagon Capital Partners LLC lifted its position in shares of NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners in the 1st quarter valued at approximately $36,000. FinTrust Capital Advisors LLC acquired a new position in NextEra Energy Partners in the 1st quarter valued at approximately $45,000. Larson Financial Group LLC purchased a new stake in NextEra Energy Partners in the 1st quarter worth approximately $48,000. Finally, Northwestern Mutual Wealth Management Co. boosted its stake 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 valued at $46,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

Shares of NYSE:NEP opened at $20.67 on Wednesday. The stock has a market cap of $1.93 billion, a price-to-earnings ratio of 9.48 and a beta of 1.10. 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 12 month low of $19.03 and a 12 month high of $35.15. The stock’s 50 day moving average price is $24.63 and its 200 day moving average price is $27.27.

NextEra Energy Partners (NYSE:NEP) last posted 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 firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 EPS. Equities research analysts anticipate that NextEra Energy Partners will post 1.45 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm 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 is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 17.76%. The ex-dividend date of this dividend is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is currently 168.35%.

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.