Shares of NextEra Energy Partners, LP (NYSE: NEP) have been given a consensus rating of “Moderate Buy” by eleven brokerages covering the company. Of these, two analysts have rated the stock as a hold, while nine have assigned a buy rating. The average price target for the stock in the next 12 months is $71.20.
Several equities analysts have recently commented on NEP shares. Morgan Stanley dropped their target price from $81.00 to $65.00 and gave the stock an “equal weight” rating. Raymond James upgraded the company from a “market perform” rating to an “outperform” rating and set a target price of $60.00. JPMorgan Chase & Co. and Oppenheimer dropped their target prices on the stock to $69.00 and $81.00, respectively. Bank of America upgraded the stock from an “underperform” rating to a “neutral” rating and increased their target price to $60.00.
NextEra Energy Partners stock opened at $48.44 on Tuesday and has a 12-month low of $44.24 and a high of $81.32. The company has a quick ratio of 1.16 and a current ratio of 1.22. It has a market capitalization of $4.53 billion and a beta of 0.86. The stock has a 50-day moving average of $50.29 and a 200-day moving average of $56.66.
NextEra Energy Partners reported earnings of $0.53 per share for the last quarter, falling short of the consensus estimate of $0.72 by $0.19. The company had revenue of $350.00 million during the quarter, compared to analyst estimates of $392.92 million. For the current year, analysts anticipate that NextEra Energy Partners will post earnings of $1.27 per share.
The company has recently declared a quarterly dividend of $0.854 per share, representing an annualized dividend of $3.42 and a dividend yield of 7.05%. This is an increase from the previous quarterly dividend of $0.84.
Hedge funds have recently modified their holdings of NextEra Energy Partners. Allworth Financial LP increased its holdings by 11.5% in the first quarter, while Credit Suisse AG and Zurcher Kantonalbank Zurich Cantonalbank lifted their holdings by 28.8% and 4.0%, respectively. Atria Investments Inc and Carnegie Capital Asset Management LLC also saw increases in their holdings.
NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It has a portfolio of renewable generation assets, including wind, solar, and battery storage projects, as well as contracted natural gas pipeline assets. The company was incorporated in 2014 and is headquartered in Juno Beach, Florida.
Sources: MarketBeat.com, MarketBeat’s editorial team
Defintions
– Consensus rating: The average rating given by multiple analysts covering a company’s stock
– Price objective: The price at which a stock is projected to reach over a specific time period
– Quick ratio: A measure of a company’s ability to use its most liquid assets to cover its immediate liabilities
– Current ratio: A measure of a company’s ability to cover its short-term liabilities with its short-term assets
– Dividend yield: A financial ratio indicating the amount of cash dividends returned to shareholders relative to the market value of the stock
– Beta: A measure of a stock’s price volatility in relation to the overall market
– Hedge funds: Investment funds that pool capital from accredited investors or institutional investors and invest in a variety of assets with different risk profiles
– Return on equity: A measure of a company’s profitability relative to the shareholders’ equity
– Net margin: A measure of a company’s profitability, calculated as net income divided by revenue
– Moving average: A calculation used to analyze data points by creating a series of averages to identify trends
– Earnings per share (EPS): A measure of a company’s profit allocated to each outstanding share of common stock
– Dividend: A distribution of a portion of a company’s earnings, decided and paid by the company’s board of directors, to its shareholders
– Holdings: The stocks, bonds, or other investment assets owned by an individual or institution
– Renewable generation assets: Energy projects that use renewable resources, such as wind or solar, to generate electricity.
– Natural gas pipeline assets: Infrastructure used to transport natural gas from one location to another