JPMorgan Chase & Co. reissued their underweight rating on shares of NextEra Energy Partners (NYSE:NEP – Free Report) in a report released on Thursday morning, MarketBeat reports. The brokerage currently has a $25.00 price objective on the solar energy provider’s stock.
A number of other research analysts also recently commented on the stock. Barclays started coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They issued an equal weight rating and a $32.00 price target for the company. Raymond James lowered their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an outperform rating for the company in a report on Wednesday, April 3rd. Oppenheimer reaffirmed a market perform rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. StockNews.com raised shares of NextEra Energy Partners to a sell rating in a report on Tuesday, March 19th. Finally, Marathon Capitl reaffirmed an equal weight rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the company. According to MarketBeat, NextEra Energy Partners presently has an average rating of Hold and a consensus target price of $39.29.
Check Out Our Latest Stock Report on NEP
NextEra Energy Partners Stock Down 6.6 %
NEP opened at $32.26 on Thursday. The firm has a 50-day simple moving average of $29.66 and a two-hundred day simple moving average of $28.36. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $63.89. The company has a market capitalization of $3.02 billion, a PE ratio of 10.58 and a beta of 1.01. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last released its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The business’s revenue was up 4.9% on a year-over-year basis. Analysts forecast that NextEra Energy Partners will post 1.89 earnings per share 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. Stockholders of record on Tuesday, May 7th were given a dividend of $0.8925 per share. The ex-dividend date of this dividend was Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a dividend yield of 11.07%. NextEra Energy Partners’s dividend payout ratio (DPR) is 117.05%.
Hedge Funds Weigh In On NextEra Energy Partners
A number of institutional investors have recently modified their holdings of the stock. Parkside Financial Bank & Trust increased its position in shares of NextEra Energy Partners by 60.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock worth $36,000 after acquiring an additional 454 shares during the period. Cambridge Investment Research Advisors Inc. increased its position in shares of NextEra Energy Partners by 4.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock worth $320,000 after acquiring an additional 496 shares during the period. CWM LLC increased its position in shares of NextEra Energy Partners by 160.2% during the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after acquiring an additional 511 shares during the period. Newbridge Financial Services Group Inc. increased its position in shares of NextEra Energy Partners by 46.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after acquiring an additional 532 shares during the period. Finally, Gilman Hill Asset Management LLC increased its position in shares of NextEra Energy Partners by 5.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock worth $342,000 after acquiring an additional 575 shares during the period. 66.01% of the stock is owned by hedge funds and other 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.
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