NextEra Energy Partners (NYSE:NEP) PT Lowered to $27.00

by · The Cerbat Gem

NextEra Energy Partners (NYSE:NEP – Free Report) had its target price cut by UBS Group from $28.00 to $27.00 in a research report released on Monday morning, Benzinga reports. They currently have a neutral rating on the solar energy provider’s stock.

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada cut shares of NextEra Energy Partners from an outperform rating to a sector perform rating and cut their price objective for the stock from $38.00 to $30.00 in a report on Monday, July 1st. StockNews.com raised NextEra Energy Partners to a sell rating in a research report on Thursday, July 25th. Mizuho cut NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 price objective for the company. in a research note on Wednesday, June 12th. Barclays cut NextEra Energy Partners from an equal weight rating to an underweight rating and cut their target price for the stock from $32.00 to $25.00 in a research note on Thursday, June 13th. Finally, Raymond James lowered NextEra Energy Partners from an outperform rating to a market perform rating in a research report on Tuesday, July 9th. Five equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Hold and an average target price of $30.08.

Check Out Our Latest Stock Report on NextEra Energy Partners

NextEra Energy Partners Stock Down 3.3 %

NYSE NEP opened at $25.79 on Monday. NextEra Energy Partners has a 1 year low of $20.17 and a 1 year high of $35.15. The stock has a market capitalization of $2.41 billion, a PE ratio of 8.46 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The business’s 50-day moving average is $25.63 and its 200 day moving average is $28.12.

NextEra Energy Partners (NYSE:NEP – Get Free Report) last issued its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS 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 business had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same period last year, the business posted $0.53 earnings per share. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. Sell-side analysts forecast that NextEra Energy Partners will post 2.2 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a yield of 14.04%. The ex-dividend date was Tuesday, August 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is currently 118.69%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. UBS Group AG increased its holdings in NextEra Energy Partners by 12.9% in the 4th quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock worth $10,215,000 after acquiring an additional 38,363 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of NextEra Energy Partners by 100.2% in the fourth quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock worth $948,000 after purchasing an additional 15,604 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of NextEra Energy Partners during the 4th quarter valued at $267,000. Steward Partners Investment Advisory LLC lifted its stake in shares of NextEra Energy Partners by 147.3% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 26,032 shares of the solar energy provider’s stock valued at $792,000 after buying an additional 15,506 shares in the last quarter. Finally, Belpointe Asset Management LLC lifted its stake in shares of NextEra Energy Partners by 120.0% during the 4th quarter. Belpointe Asset Management LLC now owns 18,089 shares of the solar energy provider’s stock valued at $550,000 after buying an additional 9,865 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Company Profile

(Get Free Report)

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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