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.
Analyst Upgrades and Downgrades
NEP has been the subject of a number of analyst reports. UBS Group set a $90.00 target price on shares of NextEra Energy Partners in a research note on Monday, June 20th. TheStreet upgraded shares of NextEra Energy Partners from a "c" rating to a "b-" rating in a report on Thursday, June 30th. Royal Bank of Canada upgraded shares of NextEra Energy Partners from a "sector perform" rating to an "outperform" rating and boosted their price target for the stock from $86.00 to $89.00 in a report on Friday, June 17th. KeyCorp boosted their price target on shares of NextEra Energy Partners from $86.00 to $89.00 and gave the stock an "overweight" rating in a report on Thursday. Finally, CIBC initiated coverage on shares of NextEra Energy Partners in a research report on Thursday, June 9th. They issued a "neutral" rating and a $79.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Hold" and an average price target of $86.43.
NextEra Energy Partners Price Performance
NYSE:NEP traded down $0.12 during mid-day trading on Friday, hitting $83.57. 769,206 shares of the stock traded hands, compared to its average volume of 619,973. The business's 50-day moving average price is $76.24 and its 200 day moving average price is $74.95. The company has a market cap of $7.01 billion, a PE ratio of 18.78, a price-to-earnings-growth ratio of 2.14 and a beta of 0.86. NextEra Energy Partners has a 12-month low of $61.31 and a 12-month high of $88.80. The company has a quick ratio of 1.30, a current ratio of 1.34 and a debt-to-equity ratio of 0.40.
NextEra Energy Partners (NYSE:NEP - Get Rating) last issued its quarterly earnings data on Friday, July 22nd. The solar energy provider reported $2.61 EPS for the quarter, beating the consensus estimate of $0.30 by $2.31. The company had revenue of $362.00 million during 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%. NextEra Energy Partners's revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.97) earnings per share. On average, analysts expect that NextEra Energy Partners will post 3.9 EPS for the current fiscal year.
NextEra Energy Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were paid a $0.7625 dividend. This represents a $3.05 dividend on an annualized basis and a yield of 3.65%. The ex-dividend date of this dividend was Wednesday, August 3rd. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.73. NextEra Energy Partners's payout ratio is currently 68.54%.