UBS Group Lowers NextEra Energy Partners (NYSE:NEP) Price Target to $27.00

NextEra Energy Partners (NYSE:NEP) had its target price lowered by UBS Group from $28.00 to $27.00 in a report issued on Monday morning, Benzinga reports. The brokerage currently has a neutral rating on the solar energy provider’s stock.

Several other equities analysts have also recently weighed in on NEP. Barclays cut NextEra Energy Partners from an equal weight rating to an underweight rating and dropped their price objective for the company from $32.00 to $25.00 in a report on Thursday, June 13th. Raymond James cut shares of NextEra Energy Partners from an outperform rating to a market perform rating in a research report on Tuesday, July 9th. Mizuho lowered 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 report on Wednesday, June 12th. Wolfe Research cut shares of NextEra Energy Partners from an outperform rating to a peer perform rating in a research report on Thursday, July 25th. Finally, Morgan Stanley lowered shares of NextEra Energy Partners from an equal weight rating to an underweight rating and reduced their price target for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of Hold and a consensus target price of $30.08.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $25.79 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average price is $25.63 and its two-hundred day moving average price is $28.12. The company has a market cap of $2.41 billion, a PE ratio of 8.46 and a beta of 1.05. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. During the same period in the previous year, the business posted $0.53 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. On average, analysts predict that NextEra Energy Partners will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were given 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 14.04%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is 118.69%.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in shares of NextEra Energy Partners by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after buying an additional 22,370 shares in the last quarter. Fred Alger Management LLC bought a new stake in NextEra Energy Partners during the second quarter worth about $5,452,000. Caxton Associates LP bought a new stake in NextEra Energy Partners during the fourth quarter worth about $1,509,000. Cetera Investment Advisers boosted its holdings in shares of NextEra Energy Partners by 574.0% in the 1st quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider’s stock worth $1,917,000 after purchasing an additional 54,267 shares in the last quarter. Finally, Janus Henderson Group PLC bought a new position in shares of NextEra Energy Partners during the 1st quarter valued at about $1,308,000. 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.