UBS Group Reiterates “$90.00” Price Target for NextEra Energy Partners (NYSE:NEP)

UBS Group set a $90.00 price target on NextEra Energy Partners (NYSE:NEPGet Rating) in a report published on Monday, Stock Target Advisor reports.

Several other research analysts have also issued reports on the company. StockNews.com raised NextEra Energy Partners from a sell rating to a hold rating in a research report on Sunday, April 3rd. Credit Suisse Group lowered their target price on NextEra Energy Partners from $78.00 to $74.00 and set an outperform rating for the company in a research report on Wednesday, June 15th. Raymond James lowered NextEra Energy Partners from a market perform rating to an underperform rating in a research report on Tuesday, April 5th. Morgan Stanley lowered their target price on NextEra Energy Partners from $93.00 to $86.00 and set an equal weight rating for the company in a research report on Monday, June 13th. Finally, CIBC assumed coverage on NextEra Energy Partners in a research report on Thursday, June 9th. They set a neutral rating and a $79.00 target price for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Hold and a consensus price target of $84.86.

Shares of NEP opened at $74.82 on Monday. NextEra Energy Partners has a 52 week low of $61.31 and a 52 week high of $88.80. The stock has a market capitalization of $6.28 billion, a price-to-earnings ratio of 86.00, a PEG ratio of 2.71 and a beta of 0.92. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.55 and a current ratio of 1.60. The stock has a fifty day moving average of $69.70 and a 200-day moving average of $75.64.

NextEra Energy Partners (NYSE:NEPGet Rating) last announced its quarterly earnings results on Thursday, April 21st. The solar energy provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. NextEra Energy Partners had a return on equity of 1.58% and a net margin of 15.13%. The company had revenue of $281.00 million during the quarter, compared to analysts’ expectations of $305.98 million. During the same period in the prior year, the company earned $2.66 EPS. NextEra Energy Partners’s revenue was up 14.2% compared to the same quarter last year. As a group, equities analysts forecast that NextEra Energy Partners will post 2.58 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Stockholders of record on Thursday, May 5th were paid a $0.7325 dividend. The ex-dividend date was Wednesday, May 4th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.71. This represents a $2.93 annualized dividend and a dividend yield of 3.92%. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 336.78%.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bank of America Corp DE boosted its stake in NextEra Energy Partners by 20.8% during the 1st quarter. Bank of America Corp DE now owns 1,140,013 shares of the solar energy provider’s stock valued at $95,032,000 after purchasing an additional 195,940 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of NextEra Energy Partners by 8.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 58,074 shares of the solar energy provider’s stock worth $4,841,000 after buying an additional 4,501 shares in the last quarter. Advisory Services Network LLC lifted its position in shares of NextEra Energy Partners by 15.0% during the 1st quarter. Advisory Services Network LLC now owns 2,896 shares of the solar energy provider’s stock worth $241,000 after buying an additional 377 shares in the last quarter. Castellan Group lifted its position in shares of NextEra Energy Partners by 13.4% during the 1st quarter. Castellan Group now owns 31,080 shares of the solar energy provider’s stock worth $2,591,000 after buying an additional 3,675 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in shares of NextEra Energy Partners by 1.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 126,463 shares of the solar energy provider’s stock worth $10,542,000 after buying an additional 1,463 shares in the last quarter. Institutional investors own 81.32% of the company’s stock.

NextEra Energy Partners Company Profile (Get Rating)

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, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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