NextEra Energy Partners (NYSE:NEP) Research Coverage Started at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research note issued to investors on Thursday morning, MarketBeat.com reports. The firm issued a buy rating and a $28.00 price objective on the solar energy provider’s stock.

NEP has been the subject of several other research reports. BMO Capital Markets reduced their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an outperform rating for the company in a report on Monday, July 22nd. Barclays cut shares of NextEra Energy Partners from an equal weight rating to an underweight rating and decreased their target price for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Wolfe Research cut NextEra Energy Partners from an outperform rating to a peer perform rating in a report on Thursday, July 25th. JPMorgan Chase & Co. reissued an underweight rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Finally, Morgan Stanley cut NextEra Energy Partners from an equal weight rating to an underweight rating and lowered their target price for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of Hold and an average price target of $32.67.

NextEra Energy Partners Stock Up 0.9 %

Shares of NextEra Energy Partners stock opened at $27.03 on Thursday. 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 has a 1-year low of $20.17 and a 1-year high of $48.89. The business has a 50-day moving average of $25.64 and a 200-day moving average of $28.20. The company has a market capitalization of $2.53 billion, a PE ratio of 8.86 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.53 EPS. As a group, equities analysts forecast that NextEra Energy Partners will post 1.74 EPS for the current fiscal 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 $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 annualized dividend and a dividend yield of 13.39%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is currently 118.69%.

Institutional Investors Weigh In On NextEra Energy Partners

Several hedge funds have recently modified their holdings of the stock. ClearBridge Investments Ltd increased its stake 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 worth $125,176,000 after purchasing an additional 250,456 shares in the last quarter. M&G Plc purchased a new position in shares of NextEra Energy Partners in the first quarter worth approximately $83,069,000. 1832 Asset Management L.P. raised its holdings in shares of NextEra Energy Partners by 599.4% during the fourth quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after acquiring an additional 2,230,374 shares during the period. Cbre Investment Management Listed Real Assets LLC lifted its position in shares of NextEra Energy Partners by 23.2% in the 4th quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,087,066 shares of the solar energy provider’s stock valued at $33,058,000 after acquiring an additional 204,845 shares in the last quarter. Finally, Raymond James & Associates lifted its position in shares of NextEra Energy Partners by 6.2% in the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after acquiring an additional 46,718 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Company Profile

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.