NextEra Energy Partners (NYSE:NEP) Price Target Lowered to $26.00 at Mizuho

NextEra Energy Partners (NYSE:NEP) had its price objective decreased by Mizuho from $33.00 to $26.00 in a research note released on Wednesday, Benzinga reports. Mizuho currently has a neutral rating on the solar energy provider’s stock.

Several other research analysts also recently commented on NEP. Royal Bank of Canada downgraded shares of 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 report on Monday, July 1st. Raymond James downgraded shares of NextEra Energy Partners from an outperform rating to a market perform rating in a report on Tuesday, July 9th. Morgan Stanley downgraded shares of NextEra Energy Partners from an equal weight rating to an underweight rating and dropped their target price for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. UBS Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a neutral rating on the stock in a report on Monday, September 30th. Finally, Barclays restated an underweight rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Five research analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Hold and an average target price of $29.54.

NextEra Energy Partners Stock Up 1.8 %

NextEra Energy Partners stock opened at $25.24 on Wednesday. The company has a market capitalization of $2.36 billion, a P/E ratio of 8.28 and a beta of 1.06. The firm’s fifty day simple moving average is $25.52 and its 200-day simple moving average is $28.01. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a 1-year low of $21.11 and a 1-year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. NextEra Energy Partners’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.53 EPS. Sell-side analysts forecast that NextEra Energy Partners will post 2.2 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders 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 dividend yield of 14.34%. The ex-dividend date was Tuesday, August 6th. NextEra Energy Partners’s payout ratio is 118.69%.

Institutional Trading of NextEra Energy Partners

Several institutional investors have recently made changes to their positions in NEP. Richardson Financial Services Inc. acquired a new position in NextEra Energy Partners in the fourth quarter valued at about $27,000. Hexagon Capital Partners LLC boosted its position in NextEra Energy Partners by 208.3% in the first 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 in the last quarter. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners in the first quarter valued at about $36,000. FinTrust Capital Advisors LLC acquired a new position in NextEra Energy Partners in the first quarter valued at about $45,000. Finally, Larson Financial Group LLC acquired a new position in NextEra Energy Partners in the first quarter valued at about $48,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.