NextEra Energy Partners (NYSE:NEP) PT Lowered to $30.00 at Evercore ISI

NextEra Energy Partners (NYSE:NEP) had its target price reduced by Evercore ISI from $32.00 to $30.00 in a research report released on Thursday morning, Benzinga reports. Evercore ISI currently has an outperform rating on the solar energy provider’s stock.

A number of other research analysts have also weighed in on NEP. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Raymond James downgraded NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective on the stock. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and dropped their target price for the stock from $25.00 to $22.00 in a research report on Thursday. Finally, Mizuho reduced their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $27.85.

NextEra Energy Partners Stock Up 0.5 %

Shares of NextEra Energy Partners stock opened at $21.10 on Thursday. The stock has a 50-day simple moving average of $25.44 and a 200-day simple moving average of $27.65. NextEra Energy Partners has a 52-week low of $20.28 and a 52-week high of $35.15. The firm has a market cap of $1.97 billion, a price-to-earnings ratio of 6.64 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 EPS. On average, equities 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 announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a dividend yield of 17.39%. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is currently 113.84%.

Institutional Investors Weigh In On NextEra Energy Partners

A number of hedge funds have recently made changes to their positions in NEP. M&G Plc bought a new stake in NextEra Energy Partners during the first quarter worth about $83,069,000. Commerce Bank bought a new stake in NextEra Energy Partners during the 1st quarter worth approximately $15,597,000. Swedbank AB acquired a new stake in NextEra Energy Partners during the 1st quarter valued at $9,927,000. ClearBridge Investments Ltd raised its position in NextEra Energy Partners by 6.4% in the 1st quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after purchasing an additional 250,456 shares during the last quarter. Finally, Fred Alger Management LLC acquired a new position in NextEra Energy Partners in the second quarter worth $5,452,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.