Nextera Energy Partners LP (NYSE:NEP) has been given an average recommendation of “Hold” by the eighteen research firms that are presently covering the firm, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, six have assigned a hold recommendation and nine have given a buy recommendation to the company. The average 12 month price target among analysts that have issued ratings on the stock in the last year is $40.80.
A number of brokerages recently commented on NEP. Guggenheim began coverage on Nextera Energy Partners in a research report on Tuesday, January 2nd. They set a “buy” rating and a $45.00 price target for the company. Bank of America reaffirmed an “underperform” rating and set a $35.00 price target on shares of Nextera Energy Partners in a research report on Tuesday, October 24th. Zacks Investment Research lowered Nextera Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Morgan Stanley raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Tuesday, December 12th. Finally, TheStreet lowered Nextera Energy Partners from a “b” rating to a “c+” rating in a report on Thursday, October 26th.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Public Employees Retirement Association of Colorado bought a new position in Nextera Energy Partners during the fourth quarter valued at $105,000. Teachers Advisors LLC boosted its holdings in shares of Nextera Energy Partners by 181.3% in the fourth quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock worth $119,000 after acquiring an additional 1,777 shares during the period. Stratos Wealth Partners LTD. bought a new position in shares of Nextera Energy Partners in the third quarter worth $203,000. Stephens Inc. AR bought a new position in shares of Nextera Energy Partners in the third quarter worth $206,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of Nextera Energy Partners in the third quarter worth $260,000. 83.13% of the stock is owned by institutional investors and hedge funds.
Shares of Nextera Energy Partners (NEP) traded up $0.03 on Tuesday, hitting $40.79. The company had a trading volume of 226,849 shares, compared to its average volume of 335,351. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 2.04. The stock has a market capitalization of $2,210.00, a P/E ratio of -33.99, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. Nextera Energy Partners has a one year low of $30.08 and a one year high of $45.38.
Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Friday, January 26th. The solar energy provider reported $0.19 EPS for the quarter, missing the Zacks’ consensus estimate of $0.26 by ($0.07). The business had revenue of $197.00 million for the quarter, compared to analysts’ expectations of $251.41 million. Nextera Energy Partners had a negative net margin of 8.63% and a positive return on equity of 1.70%. During the same period in the previous year, the business posted ($0.23) earnings per share. sell-side analysts anticipate that Nextera Energy Partners will post 1.97 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were issued a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a yield of 3.97%. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.39. The ex-dividend date was Friday, February 2nd. Nextera Energy Partners’s dividend payout ratio is -135.00%.
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About Nextera Energy Partners
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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