NextEra Energy Partners (NYSE:NEP) Trading Down 4%

Shares of NextEra Energy Partners, LP (NYSE:NEP) were down 4% during mid-day trading on Monday . The stock traded as low as $27.36 and last traded at $27.49. Approximately 96,434 shares were traded during trading, a decline of 93% from the average daily volume of 1,437,591 shares. The stock had previously closed at $28.64.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on NEP shares. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $38.20.

NextEra Energy Partners Stock Performance

The business’s 50-day moving average price is $30.43 and its 200-day moving average price is $29.26. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36. The stock has a market cap of $2.54 billion, a P/E ratio of 9.23 and a beta of 1.04.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.63. The company had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. NextEra Energy Partners’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.17) EPS. As a group, sell-side analysts expect that NextEra Energy Partners, LP will post 1.89 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were issued a $0.8925 dividend. The ex-dividend date was Monday, May 6th. This represents a $3.57 annualized dividend and a yield of 13.17%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio is currently 117.05%.

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently bought and sold shares of the stock. CWM LLC raised its position in shares of 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 buying an additional 511 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of NextEra Energy Partners during the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC raised its position in shares of NextEra Energy Partners by 208.3% during 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 in the last quarter. MV Capital Management Inc. purchased a new stake in shares of NextEra Energy Partners during the 4th quarter valued at about $30,000. Finally, Heritage Wealth Advisors purchased a new stake in shares of NextEra Energy Partners during the 4th quarter valued at about $33,000. Hedge funds and other 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.