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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.
Analysts Set New Price Targets
Several equities analysts have recently weighed in on NEP shares. TheStreet upgraded shares of NextEra Energy Partners from a "c" rating to a "b-" rating in a research note on Thursday, June 30th. Credit Suisse Group raised their target price on shares of NextEra Energy Partners from $74.00 to $79.00 and gave the stock an "outperform" rating in a research note on Monday, July 25th. KeyCorp raised their target price on shares of NextEra Energy Partners from $86.00 to $89.00 and gave the stock an "overweight" rating in a research note on Thursday. Royal Bank of Canada upgraded shares of NextEra Energy Partners from a "sector perform" rating to an "outperform" rating and raised their target price for the stock from $86.00 to $89.00 in a research note on Friday, June 17th. Finally, CIBC started coverage on shares of NextEra Energy Partners in a research note on Thursday, June 9th. They set a "neutral" rating and a $79.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, NextEra Energy Partners has an average rating of "Hold" and a consensus target price of $86.43.
NextEra Energy Partners Trading Down 0.1 %
NextEra Energy Partners stock opened at $83.57 on Friday. The stock has a market cap of $7.01 billion, a P/E ratio of 18.78, a PEG ratio of 2.15 and a beta of 0.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 1.30. NextEra Energy Partners has a 1 year low of $61.31 and a 1 year high of $88.80. The firm's 50 day moving average price is $76.24 and its 200-day moving average price is $74.93.
NextEra Energy Partners (NYSE:NEP - Get Rating) last released its quarterly earnings data on Friday, July 22nd. The solar energy provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $2.31. The firm had revenue of $362.00 million for the quarter, compared to analysts' expectations of $345.09 million. NextEra Energy Partners had a net margin of 39.66% and a return on equity of 4.21%. The company's revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter last year, the business posted ($0.97) earnings per share. On average, equities analysts predict that NextEra Energy Partners will post 3.9 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 Friday, August 12th. Investors of record on Thursday, August 4th were issued a $0.7625 dividend. The ex-dividend date of this dividend was Wednesday, August 3rd. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.73. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.65%. NextEra Energy Partners's dividend payout ratio (DPR) is 68.54%.