NextEra Energy Partners (NYSE:NEP) Hits New 1-Year Low – Here’s Why

NextEra Energy Partners, LP (NYSE:NEP)’s stock price reached a new 52-week low on Wednesday . The company traded as low as $19.16 and last traded at $19.39, with a volume of 332984 shares trading hands. The stock had previously closed at $19.27.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. BMO Capital Markets decreased their target price on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Evercore ISI lowered their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. BNP Paribas assumed coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective on the stock. Finally, Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.69.

NextEra Energy Partners Stock Up 0.5 %

The company has a market capitalization of $1.81 billion, a PE ratio of 8.83 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The company’s 50-day moving average is $25.21 and its 200 day moving average is $27.53.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same period last year, the company posted $0.57 earnings per share. The business’s revenue was up 3.6% compared to the same quarter last year. As a group, analysts anticipate that NextEra Energy Partners, LP will post 1.77 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be paid a $0.9175 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a dividend yield of 18.96%. NextEra Energy Partners’s payout ratio is currently 166.06%.

Institutional Investors Weigh In On NextEra Energy Partners

A number of hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC lifted its position in NextEra Energy Partners by 1.4% during the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after purchasing an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC raised its stake in NextEra Energy Partners by 2.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after acquiring an additional 433 shares during the period. Pathway Financial Advisers LLC lifted its holdings in NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock valued at $1,336,000 after purchasing an additional 454 shares in the last quarter. Arizona State Retirement System boosted its position in shares of NextEra Energy Partners by 2.0% in the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its stake in shares of NextEra Energy Partners by 4.6% in the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after purchasing an additional 581 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

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.