ValuEngine upgraded shares of Nextera Energy Partners (NYSE:NEP) from a hold rating to a buy rating in a report issued on Thursday, ValuEngine reports.
Several other equities analysts also recently commented on the stock. Barclays upped their price target on shares of Nextera Energy Partners from $49.00 to $52.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Zacks Investment Research upgraded shares of Nextera Energy Partners from a hold rating to a buy rating and set a $52.00 target price on the stock in a research note on Wednesday, June 26th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has a consensus rating of Buy and a consensus target price of $51.07.
NYSE:NEP traded down $1.54 during mid-day trading on Thursday, hitting $47.67. 11,441 shares of the stock traded hands, compared to its average volume of 184,907. The stock has a market cap of $2.70 billion, a PE ratio of 16.40, a price-to-earnings-growth ratio of 13.67 and a beta of 0.93. Nextera Energy Partners has a 52 week low of $39.35 and a 52 week high of $50.99. The stock has a 50 day moving average price of $49.07. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.62.
Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported ($0.49) EPS for the quarter, missing the consensus estimate of $0.48 by ($0.97). The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $292.21 million. Nextera Energy Partners had a negative net margin of 2.88% and a negative return on equity of 0.44%. Research analysts predict that Nextera Energy Partners will post 0.4 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be paid a $0.502 dividend. The ex-dividend date is Monday, August 5th. This represents a $2.01 dividend on an annualized basis and a yield of 4.21%. Nextera Energy Partners’s dividend payout ratio is currently 66.32%.
A number of hedge funds have recently modified their holdings of NEP. Advisor Group Inc. raised its stake in Nextera Energy Partners by 16.3% during the 4th quarter. Advisor Group Inc. now owns 2,909 shares of the solar energy provider’s stock worth $126,000 after buying an additional 408 shares during the period. Northern Trust Corp increased its holdings in Nextera Energy Partners by 21.3% during the 4th quarter. Northern Trust Corp now owns 21,125 shares of the solar energy provider’s stock worth $910,000 after purchasing an additional 3,703 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in Nextera Energy Partners by 23.2% during the 4th quarter. Great West Life Assurance Co. Can now owns 6,437 shares of the solar energy provider’s stock worth $267,000 after purchasing an additional 1,212 shares in the last quarter. United Services Automobile Association bought a new stake in Nextera Energy Partners during the 4th quarter worth approximately $226,000. Finally, Two Sigma Investments LP bought a new stake in Nextera Energy Partners during the 4th quarter worth approximately $1,001,000. Institutional investors and hedge funds own 83.45% 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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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