NextEra Energy Partners (NYSE:NEP) Sets New 52-Week Low – Should You Sell?

NextEra Energy Partners, LP (NYSE:NEP) shares reached a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $18.13 and last traded at $18.27, with a volume of 182307 shares changing hands. The stock had previously closed at $20.67.

Analyst Ratings Changes

A number of research firms have recently commented on NEP. Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $22.00 in a report on Monday, October 28th. Mizuho decreased their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Jefferies Financial Group dropped their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday, October 24th. Finally, BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 target price on the stock. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $26.69.

NextEra Energy Partners Trading Down 6.0 %

The firm has a market cap of $1.73 billion, a price-to-earnings ratio of 8.50 and a beta of 1.10. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The company has a 50 day moving average price of $24.63 and a 200 day moving average price of $27.27.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same period in the previous year, the company earned $0.57 EPS. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. On average, research analysts expect that NextEra Energy Partners, LP will post 1.45 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be given a dividend of $0.9175 per share. The ex-dividend date is Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 19.82%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 166.06%.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors have recently modified their holdings of NEP. Private Advisor Group LLC acquired a new position in shares of NextEra Energy Partners in the first quarter valued at approximately $679,000. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of NextEra Energy Partners by 22.2% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,644 shares of the solar energy provider’s stock worth $1,223,000 after acquiring an additional 7,372 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of NextEra Energy Partners by 716.5% during the first quarter. BNP Paribas Financial Markets now owns 30,145 shares of the solar energy provider’s stock worth $907,000 after acquiring an additional 26,453 shares during the period. Central Pacific Bank Trust Division acquired a new stake in shares of NextEra Energy Partners in the first quarter valued at $36,000. Finally, GSA Capital Partners LLP boosted its holdings in NextEra Energy Partners by 75.4% in the first quarter. GSA Capital Partners LLP now owns 50,079 shares of the solar energy provider’s stock valued at $1,506,000 after purchasing an additional 21,526 shares during the period. 66.01% of the stock is owned by institutional investors and hedge funds.

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.