NextEra Energy Partners (NYSE:NEP) Stock Price Up 7.1%

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) shares rose 7.1% during mid-day trading on Friday . The company traded as high as $31.90 and last traded at $31.68. Approximately 940,705 shares traded hands during mid-day trading, a decline of 32% from the average daily volume of 1,378,777 shares. The stock had previously closed at $29.58.

Analysts Set New Price Targets

NEP has been the subject of a number of recent analyst reports. Barclays initiated coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an "equal weight" rating and a $32.00 price objective for the company. StockNews.com upgraded NextEra Energy Partners to a "sell" rating in a research note on Tuesday, March 19th. Oppenheimer reiterated a "market perform" rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. Raymond James lowered their target price on NextEra Energy Partners from $50.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 3rd. Finally, JPMorgan Chase & Co. increased their target price on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a "neutral" rating in a research note on Friday, January 26th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $41.60.

NextEra Energy Partners Stock Performance

The stock has a 50 day simple moving average of $28.48 and a 200 day simple moving average of $27.68. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.89 billion, a P/E ratio of 10.13 and a beta of 1.01.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. During the same quarter last year, the company posted ($0.17) EPS. The company's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect that NextEra Energy Partners, LP will post 1.54 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.8925 dividend. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 11.55%. NextEra Energy Partners's dividend payout ratio (DPR) is presently 115.41%.

Hedge Funds Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of NEP. CWM LLC increased its stake in shares of NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider's stock valued at $25,000 after purchasing an additional 511 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of NextEra Energy Partners during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC lifted its holdings in 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 worth $28,000 after buying an additional 627 shares during the period. MV Capital Management Inc. acquired a new position in NextEra Energy Partners during the 4th quarter worth about $30,000. Finally, Heritage Wealth Advisors acquired a new position in NextEra Energy Partners during the 4th quarter worth about $33,000. 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.

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