NextEra Energy Partners, LP (NYSE:NEP) has earned a consensus recommendation of “Buy” from the eighteen analysts that are covering the stock, MarketBeat.com reports. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $38.57.
NEP has been the subject of several analyst reports. Vetr raised shares of NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, May 15th. Barclays PLC reissued an “overweight” rating and issued a $39.00 price objective (up previously from $34.00) on shares of NextEra Energy Partners, in a research note on Sunday, April 23rd. Williams Capital initiated coverage on shares of NextEra Energy Partners, in a research note on Thursday, June 1st. They issued a “buy” rating and a $45.00 price objective for the company. Zacks Investment Research downgraded shares of NextEra Energy Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Finally, Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price objective (up previously from $39.00) on shares of NextEra Energy Partners, in a research note on Thursday, July 27th.
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In related news, insider Armando Pimentel, Jr. acquired 5,000 shares of the stock in a transaction dated Friday, July 14th. The stock was acquired at an average cost of $38.23 per share, for a total transaction of $191,150.00. Following the completion of the purchase, the insider now owns 20,000 shares of the company’s stock, valued at approximately $764,600. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark E. Hickson acquired 1,350 shares of the stock in a transaction dated Wednesday, July 5th. The shares were bought at an average price of $37.51 per share, with a total value of $50,638.50. Following the completion of the purchase, the executive vice president now directly owns 4,780 shares of the company’s stock, valued at approximately $179,297.80. The disclosure for this purchase can be found here. 0.46% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Friedberg Investment Management purchased a new position in NextEra Energy Partners, during the first quarter worth $3,489,000. Elkfork Partners LLC boosted its stake in NextEra Energy Partners, by 148.2% in the first quarter. Elkfork Partners LLC now owns 30,690 shares of the solar energy provider’s stock worth $1,017,000 after buying an additional 18,326 shares in the last quarter. Loomis Sayles & Co. L P boosted its stake in NextEra Energy Partners, by 28.0% in the first quarter. Loomis Sayles & Co. L P now owns 25,569 shares of the solar energy provider’s stock worth $847,000 after buying an additional 5,587 shares in the last quarter. Partnervest Advisory Services LLC bought a new stake in NextEra Energy Partners, during the second quarter worth approximately $311,000. Finally, Duff & Phelps Investment Management Co. bought a new stake in NextEra Energy Partners, during the second quarter worth approximately $28,000,000. 85.26% of the stock is owned by institutional investors.
NextEra Energy Partners, (NYSE:NEP) traded up 1.32% during mid-day trading on Friday, reaching $38.30. The company had a trading volume of 403,499 shares. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 21.09 and a beta of 1.26. NextEra Energy Partners, has a 12-month low of $23.90 and a 12-month high of $41.49. The stock has a 50-day moving average of $38.70 and a 200 day moving average of $34.26.
NextEra Energy Partners, (NYSE:NEP) last announced its quarterly earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.19. NextEra Energy Partners, had a net margin of 13.77% and a return on equity of 4.74%. The business had revenue of $204 million during the quarter, compared to the consensus estimate of $232.03 million. On average, analysts expect that NextEra Energy Partners, will post $1.58 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, August 14th. Shareholders of record on Monday, August 7th will be issued a $0.38 dividend. This is a positive change from NextEra Energy Partners,’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.97%. The ex-dividend date of this dividend is Thursday, August 3rd. NextEra Energy Partners,’s payout ratio is currently 76.38%.
About NextEra Energy Partners,
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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