NextEra Energy Partners (NYSE:NEP) Reaches New 1-Year Low – Here’s Why

by · The Markets Daily

Shares of NextEra Energy Partners, LP (NYSE:NEP – Get Free Report) hit a new 52-week low on Wednesday . The stock traded as low as $18.13 and last traded at $18.27, with a volume of 182307 shares traded. The stock had previously closed at $20.67.

Analyst Upgrades and Downgrades

NEP has been the subject of several recent research reports. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. UBS Group lowered their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Barclays reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. Finally, BNP Paribas initiated coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective on the stock. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and a consensus target price of $26.69.

Read Our Latest Analysis on NextEra Energy Partners

NextEra Energy Partners Trading Down 6.0 %

The firm has a market cap of $1.73 billion, a PE ratio of 8.50 and a beta of 1.10. 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 50 day simple moving average of $24.63 and a two-hundred day simple moving average of $27.27.

NextEra Energy Partners (NYSE:NEP – Get Free Report) last announced its quarterly earnings data 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). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the previous year, the firm posted $0.57 earnings per share. The business’s revenue was up 3.6% on a year-over-year basis. Analysts expect that NextEra Energy Partners, LP will post 1.45 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be given a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 19.82%. The ex-dividend date is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 166.06%.

Hedge Funds Weigh In On NextEra Energy Partners

Several large investors have recently made changes to their positions in the company. Ameritas Advisory Services LLC increased its holdings in NextEra Energy Partners by 1.4% in the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after buying an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC increased its stake in shares of NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after purchasing an additional 433 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares during the period. Arizona State Retirement System boosted its position in NextEra Energy Partners by 2.0% during the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC grew its holdings in NextEra Energy Partners by 4.6% in the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock valued at $362,000 after purchasing an additional 581 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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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