NextEra Energy Partners (NYSE:NEP) Research Coverage Started at BNP Paribas

BNP Paribas assumed coverage on shares of NextEra Energy Partners (NYSE:NEP) in a report released on Tuesday morning, MarketBeat Ratings reports. The firm issued an underperform rating and a $15.00 target price on the solar energy provider’s stock.

NEP has been the subject of several other research reports. Wolfe Research downgraded NextEra Energy Partners from an outperform rating to a peer perform rating in a research report on Thursday, July 25th. Raymond James lowered shares of NextEra Energy Partners from an outperform rating to a market perform rating in a report on Tuesday, July 9th. Mizuho downgraded 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 report on Wednesday, June 12th. Royal Bank of Canada cut NextEra Energy Partners from an outperform rating to a sector perform rating and decreased their price objective for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. Finally, Jefferies Financial Group started coverage on shares of NextEra Energy Partners in a research report on Thursday, September 19th. They issued a buy rating and a $28.00 price target on the stock. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of Hold and an average price target of $30.08.

NextEra Energy Partners Trading Up 1.0 %

Shares of NextEra Energy Partners stock opened at $26.06 on Tuesday. NextEra Energy Partners has a 12-month low of $20.17 and a 12-month high of $35.15. The stock has a market capitalization of $2.44 billion, a P/E ratio of 8.54 and a beta of 1.06. The company has a 50-day simple moving average of $25.62 and a 200 day simple moving average of $28.10. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data 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 company had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same quarter last year, the business posted $0.53 earnings per share. The company’s revenue was up 22.9% on a year-over-year basis. Research analysts expect that NextEra Energy Partners will post 2.2 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a $0.905 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 annualized dividend and a dividend yield of 13.89%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Institutional Trading of NextEra Energy Partners

Institutional investors and hedge funds have recently made changes to their positions in the stock. Richardson Financial Services Inc. bought a new position in shares of NextEra Energy Partners during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC raised its holdings in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after acquiring an additional 627 shares in the last quarter. Central Pacific Bank Trust Division purchased a new stake in shares of NextEra Energy Partners in the 1st quarter worth about $36,000. FinTrust Capital Advisors LLC purchased a new stake in NextEra Energy Partners in the first quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. grew 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 during the period. Hedge funds and other 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.