NextEra Energy Partners (NYSE:NEP) Receives Market Perform Rating from Oppenheimer

Oppenheimer reissued their market perform rating on shares of NextEra Energy Partners (NYSE:NEP) in a research note published on Wednesday, Benzinga reports.

Several other equities research analysts also recently issued reports on the company. Barclays initiated coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They issued an equal weight rating and a $32.00 price target for the company. CIBC cut NextEra Energy Partners from a sector outperform rating to a neutral rating and set a $35.00 price target for the company. in a research report on Tuesday, January 9th. JPMorgan Chase & Co. increased their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the company a neutral rating in a research report on Friday, January 26th. Marathon Capitl reissued an equal weight rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Finally, Raymond James reduced their price target on NextEra Energy Partners from $50.00 to $45.00 and set an outperform rating for the company in a research report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Hold and a consensus target price of $43.88.

NextEra Energy Partners Trading Up 3.0 %

NYSE NEP opened at $29.62 on Wednesday. The stock has a 50-day simple moving average of $28.29 and a 200 day simple moving average of $27.35. The company has a market capitalization of $2.77 billion, a PE ratio of 9.71 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a 12 month low of $20.17 and a 12 month high of $63.89.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. During the same quarter in the prior year, the company posted ($0.17) earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Research analysts forecast that NextEra Energy Partners will post 0.83 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. The ex-dividend date of this dividend is Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 12.05%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio (DPR) is 115.41%.

Hedge Funds Weigh In On NextEra Energy Partners

Large investors have recently made changes to their positions in the company. Bank of New York Mellon Corp increased its stake in NextEra Energy Partners by 31.0% during the 3rd quarter. Bank of New York Mellon Corp now owns 1,044,197 shares of the solar energy provider’s stock worth $31,013,000 after acquiring an additional 246,908 shares during the period. Tudor Investment Corp Et Al increased its stake in NextEra Energy Partners by 477.2% during the 3rd quarter. Tudor Investment Corp Et Al now owns 238,288 shares of the solar energy provider’s stock worth $7,077,000 after acquiring an additional 197,002 shares during the period. Vanguard Group Inc. increased its stake in NextEra Energy Partners by 3.9% during the 3rd quarter. Vanguard Group Inc. now owns 619,780 shares of the solar energy provider’s stock worth $18,407,000 after acquiring an additional 23,008 shares during the period. EP Wealth Advisors LLC increased its stake in NextEra Energy Partners by 1,557.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 319,287 shares of the solar energy provider’s stock worth $9,483,000 after acquiring an additional 300,027 shares during the period. Finally, HighTower Advisors LLC increased its stake in NextEra Energy Partners by 14.1% during the 3rd quarter. HighTower Advisors LLC now owns 839,956 shares of the solar energy provider’s stock worth $24,911,000 after acquiring an additional 104,055 shares during the period. Institutional investors own 66.01% 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, 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.