NextEra Energy Partners (NYSE:NEP) Upgraded to Sell at StockNews.com

StockNews.com upgraded shares of NextEra Energy Partners (NYSE:NEP) to a sell rating in a research note released on Thursday morning.

Other research analysts also recently issued reports about the company. Barclays downgraded NextEra Energy Partners from an equal weight rating to an underweight rating and cut their price target for the company from $32.00 to $25.00 in a report on Thursday, June 13th. JPMorgan Chase & Co. restated an underweight rating and set a $25.00 target price on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Mizuho downgraded NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 target price on the stock. in a research note on Wednesday, June 12th. BMO Capital Markets dropped their target price on NextEra Energy Partners from $32.00 to $28.00 and set an outperform rating on the stock in a research note on Monday, July 22nd. Finally, Royal Bank of Canada downgraded NextEra Energy Partners from an outperform rating to a sector perform rating and dropped their target price for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of Hold and an average target price of $33.79.

NextEra Energy Partners Trading Up 1.0 %

Shares of NYSE:NEP opened at $26.20 on Thursday. NextEra Energy Partners has a 12-month low of $20.17 and a 12-month high of $57.29. The business’s fifty day simple moving average is $29.43 and its 200-day simple moving average is $29.04. The company has a market capitalization of $2.45 billion, a PE ratio of 8.59 and a beta of 1.03. The company has a current ratio of 1.30, a quick ratio of 1.31 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $365.54 million. During the same period last year, the business posted $0.53 EPS. The business’s revenue was up 22.9% compared to the same quarter last year. As a group, equities research analysts predict that NextEra Energy Partners will post 1.72 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will be paid a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a yield of 13.82%. The ex-dividend date of this dividend is Tuesday, August 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is presently 118.69%.

Institutional Trading of NextEra Energy Partners

Large investors have recently added to or reduced their stakes in the company. CWM LLC grew its stake in NextEra Energy Partners by 160.2% during the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after purchasing an additional 511 shares during the last quarter. Richardson Financial Services Inc. acquired a new position in shares of NextEra Energy Partners in the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC lifted its holdings in shares of NextEra Energy Partners by 208.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 627 shares during the period. MV Capital Management Inc. acquired a new position in shares of NextEra Energy Partners in the 4th quarter valued at about $30,000. Finally, Heritage Wealth Advisors acquired a new position in shares of NextEra Energy Partners in the 4th quarter valued at about $33,000. Hedge funds and other 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.