NextEra Energy Partners (NYSE:NEP) Hits New 12-Month Low – What’s Next?

NextEra Energy Partners, LP (NYSE:NEP)’s stock price hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $16.79 and last traded at $16.82, with a volume of 250152 shares trading hands. The stock had previously closed at $17.29.

Analyst Ratings Changes

A number of research firms have weighed in on NEP. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Evercore ISI cut their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Barclays reissued an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Finally, BMO Capital Markets reduced their price objective on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $26.69.

NextEra Energy Partners Stock Performance

The firm has a fifty day moving average price of $23.73 and a two-hundred day moving average price of $26.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The stock has a market capitalization of $1.56 billion, a PE ratio of 7.64 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 earnings per share. Research analysts expect that NextEra Energy Partners, LP will post 1.41 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors 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 represents a $3.67 annualized dividend and a yield of 22.03%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio is 168.35%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in NextEra Energy Partners by 716.5% in the first quarter. BNP Paribas Financial Markets now owns 30,145 shares of the solar energy provider’s stock worth $907,000 after purchasing an additional 26,453 shares during the last quarter. Oppenheimer & Co. Inc. grew its stake in NextEra Energy Partners by 28.3% during the 1st quarter. Oppenheimer & Co. Inc. now owns 12,610 shares of the solar energy provider’s stock worth $379,000 after buying an additional 2,783 shares during the last quarter. Concurrent Investment Advisors LLC increased its position in NextEra Energy Partners by 11.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 9,525 shares of the solar energy provider’s stock valued at $287,000 after buying an additional 978 shares in the last quarter. Kingsview Wealth Management LLC purchased a new stake in NextEra Energy Partners in the first quarter valued at about $418,000. Finally, Blair William & Co. IL boosted its holdings in NextEra Energy Partners by 42.5% in the first quarter. Blair William & Co. IL now owns 21,390 shares of the solar energy provider’s stock worth $643,000 after acquiring an additional 6,378 shares in the last quarter. 66.01% of the stock is currently owned by 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.