NextEra Energy Partners (NYSE:NEP) Now Covered by Jefferies Financial Group

Jefferies Financial Group started coverage on shares of NextEra Energy Partners (NYSE:NEP) in a report published on Thursday, MarketBeat reports. The brokerage issued a buy rating and a $28.00 price objective on the solar energy provider’s stock.

Several other brokerages have also recently commented on NEP. JPMorgan Chase & Co. reissued an underweight rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Raymond James lowered NextEra Energy Partners from an outperform rating to a market perform rating in a report on Tuesday, July 9th. Royal Bank of Canada cut NextEra Energy Partners from an outperform rating to a sector perform rating and decreased their target price for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Barclays lowered shares of NextEra Energy Partners from an equal weight rating to an underweight rating and dropped their price target for the company from $32.00 to $25.00 in a research report on Thursday, June 13th. Finally, Wolfe Research lowered shares of NextEra Energy Partners from an outperform rating to a peer perform rating in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of Hold and an average target price of $32.67.

NextEra Energy Partners Stock Up 0.9 %

NextEra Energy Partners stock opened at $27.03 on Thursday. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $48.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The firm has a market cap of $2.53 billion, a PE ratio of 8.86 and a beta of 1.05. The firm’s 50 day moving average price is $25.64 and its two-hundred day moving average price is $28.20.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same period last year, the company earned $0.53 earnings per share. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, research analysts predict that NextEra Energy Partners will post 1.74 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a dividend of $0.905 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.39%. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 118.69%.

Institutional Trading of NextEra Energy Partners

A number of institutional investors have recently bought and sold shares of NEP. Sanctuary Advisors LLC bought a new position in NextEra Energy Partners in the second quarter worth approximately $639,000. Cetera Investment Advisers lifted its holdings in shares of NextEra Energy Partners by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock worth $1,948,000 after purchasing an additional 6,769 shares in the last quarter. Granite Bay Wealth Management LLC bought a new position in shares of NextEra Energy Partners in the 2nd quarter worth $418,000. Pathway Financial Advisers LLC grew its position in NextEra Energy Partners by 0.9% in the 2nd 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 during the period. Finally, B. Riley Wealth Advisors Inc. increased its stake in NextEra Energy Partners by 40.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock valued at $294,000 after purchasing an additional 3,064 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

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.