NextEra Energy Partners, LP (NEP) To Go Ex-Dividend on November 6th

NextEra Energy Partners, LP (NYSE:NEP) declared a quarterly dividend on Tuesday, October 22nd, NASDAQ reports. Investors of record on Wednesday, November 6th will be given a dividend of 0.9175 per share by the solar energy provider on Thursday, November 14th. This represents a $3.67 annualized dividend and a yield of 19.06%. The ex-dividend date is Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91.

NextEra Energy Partners has increased its dividend by an average of 14.3% per year over the last three years and has raised its dividend every year for the last 10 years. NextEra Energy Partners has a dividend payout ratio of 146.2% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Research analysts expect NextEra Energy Partners to earn $1.37 per share next year, which means the company may not be able to cover its $3.67 annual dividend with an expected future payout ratio of 267.9%.

NextEra Energy Partners Stock Down 0.5 %

Shares of NYSE:NEP opened at $19.25 on Monday. The company has a 50 day moving average price of $24.83 and a two-hundred day moving average price of $27.36. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The company has a market capitalization of $1.80 billion, a PE ratio of 8.83 and a beta of 1.10. NextEra Energy Partners has a 52 week low of $19.03 and a 52 week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released 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 net margin of 17.47% and a negative return on equity of 1.07%. NextEra Energy Partners’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Analysts forecast that NextEra Energy Partners will post 1.45 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently weighed in on NEP. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $22.00 in a report on Thursday, October 24th. UBS Group cut their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. 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 for the company. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. Finally, Barclays reaffirmed an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $26.69.

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.