NextEra Energy Partners (NYSE:NEP) Stock Price Up 6.9%

NextEra Energy Partners, LP (NYSE:NEP)’s stock price shot up 6.9% during mid-day trading on Tuesday . The company traded as high as $29.53 and last traded at $29.35. 519,042 shares were traded during mid-day trading, a decline of 62% from the average session volume of 1,348,543 shares. The stock had previously closed at $27.46.

Analyst Ratings Changes

A number of research analysts have weighed in on NEP shares. Barclays began coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price target on the stock. Raymond James reduced their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Evercore ISI initiated coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 target price on the stock. Finally, Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $43.88.

NextEra Energy Partners Stock Performance

The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.77 billion, a PE ratio of 13.99 and a beta of 1.00. The company has a fifty day moving average price of $28.31 and a 200 day moving average price of $27.26.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The company had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $360.03 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. Analysts expect that NextEra Energy Partners, LP will post 0.9 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.88 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a yield of 11.88%. The ex-dividend date was Monday, February 5th. NextEra Energy Partners’s dividend payout ratio is currently 165.26%.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. National Bank of Canada FI lifted its holdings in NextEra Energy Partners by 69.5% during the third quarter. National Bank of Canada FI now owns 48,071 shares of the solar energy provider’s stock worth $1,428,000 after buying an additional 19,713 shares during the period. IFP Advisors Inc grew its position in NextEra Energy Partners by 92.4% during the 3rd quarter. IFP Advisors Inc now owns 2,115 shares of the solar energy provider’s stock worth $63,000 after purchasing an additional 1,016 shares during the period. B & T Capital Management DBA Alpha Capital Management grew its position in shares of NextEra Energy Partners by 29.4% during the 3rd quarter. B & T Capital Management DBA Alpha Capital Management now owns 112,603 shares of the solar energy provider’s stock valued at $3,344,000 after acquiring an additional 25,560 shares during the period. Brown Miller Wealth Management LLC grew its position in shares of NextEra Energy Partners by 126.7% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 11,473 shares of the solar energy provider’s stock valued at $340,000 after acquiring an additional 6,412 shares during the period. Finally, Commonwealth Equity Services LLC lifted its stake in NextEra Energy Partners by 22.7% in the 3rd quarter. Commonwealth Equity Services LLC now owns 43,746 shares of the solar energy provider’s stock valued at $1,299,000 after buying an additional 8,094 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

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.