Nextera Energy Partners LP (NYSE:NEP) shares hit a new 52-week high during trading on Monday . The company traded as high as $49.75 and last traded at $49.51, with a volume of 2300 shares trading hands. The stock had previously closed at $48.71.
NEP has been the topic of several recent analyst reports. Raymond James cut shares of Nextera Energy Partners from an “outperform” rating to a “market perform” rating and set a $35.00 target price on the stock. in a report on Thursday, July 5th. Zacks Investment Research cut shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Morgan Stanley cut shares of Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $50.00 target price on the stock. in a report on Monday, July 16th. JPMorgan Chase & Co. lifted their price target on Nextera Energy Partners from $38.00 to $40.00 and gave the stock a “neutral” rating in a research report on Thursday, April 26th. Finally, Mizuho initiated coverage on Nextera Energy Partners in a research report on Monday, August 13th. They issued a “buy” rating and a $54.50 price target for the company. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $45.25.
The firm has a market capitalization of $2.63 billion, a P/E ratio of 75.92, a PEG ratio of 1.94 and a beta of 1.20. The company has a quick ratio of 4.59, a current ratio of 4.59 and a debt-to-equity ratio of 1.05.
Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, July 25th. The solar energy provider reported $1.43 EPS for the quarter, topping the consensus estimate of $0.48 by $0.95. Nextera Energy Partners had a return on equity of 6.86% and a net margin of 8.88%. The company had revenue of $225.00 million during the quarter, compared to the consensus estimate of $278.31 million. equities analysts expect that Nextera Energy Partners LP will post 2.77 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Investors of record on Monday, August 6th were issued a $0.4375 dividend. This represents a $1.75 annualized dividend and a yield of 3.50%. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, August 3rd. Nextera Energy Partners’s dividend payout ratio (DPR) is presently 265.15%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in NEP. IFP Advisors Inc grew its stake in shares of Nextera Energy Partners by 124.0% during the 1st quarter. IFP Advisors Inc now owns 2,558 shares of the solar energy provider’s stock valued at $102,000 after purchasing an additional 1,416 shares during the period. Teachers Advisors LLC grew its stake in shares of Nextera Energy Partners by 181.3% during the 4th quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock valued at $119,000 after purchasing an additional 1,777 shares during the period. Allen Capital Group LLC bought a new stake in shares of Nextera Energy Partners during the 2nd quarter valued at about $208,000. Atria Investments LLC bought a new stake in shares of Nextera Energy Partners during the 2nd quarter valued at about $224,000. Finally, Jane Street Group LLC bought a new stake in shares of Nextera Energy Partners during the 2nd quarter valued at about $228,000. Institutional investors own 83.19% of the company’s stock.
Nextera Energy Partners Company Profile (NYSE:NEP)
NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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