Nextera Energy Partners (NYSE:NEP) Rating Increased to Outperform at Macquarie

Macquarie upgraded shares of Nextera Energy Partners (NYSE:NEP) from a neutral rating to an outperform rating in a research report released on Monday, February 4th, MarketBeat.com reports. They currently have $44.00 target price on the solar energy provider’s stock, down from their previous target price of $47.00.

NEP has been the subject of a number of other reports. Zacks Investment Research lowered Nextera Energy Partners from a buy rating to a hold rating in a report on Monday, October 29th. TheStreet cut Nextera Energy Partners from a b- rating to a c+ rating in a research report on Friday, January 25th. Finally, Bank of America cut Nextera Energy Partners from a buy rating to a neutral rating in a research report on Thursday, October 25th. They noted that the move was a valuation call. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Nextera Energy Partners has a consensus rating of Hold and a consensus price target of $46.85.

NYSE:NEP traded down $0.32 on Monday, hitting $42.87. 243,925 shares of the company’s stock traded hands, compared to its average volume of 379,249. Nextera Energy Partners has a 1 year low of $37.31 and a 1 year high of $50.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.40 and a quick ratio of 5.54. The stock has a market cap of $2.40 billion, a PE ratio of 14.73, a price-to-earnings-growth ratio of 2.24 and a beta of 0.93.

Nextera Energy Partners (NYSE:NEP) last posted its earnings results on Friday, January 25th. The solar energy provider reported ($0.39) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.88). Nextera Energy Partners had a return on equity of 4.83% and a net margin of 23.25%. The company had revenue of $155.00 million during the quarter, compared to analyst estimates of $276.40 million. During the same quarter last year, the firm posted $0.18 earnings per share. On average, equities research analysts anticipate that Nextera Energy Partners will post 2.11 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Thursday, February 14th. Investors of record on Wednesday, February 6th were paid a dividend of $0.465 per share. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.45. This represents a $1.86 dividend on an annualized basis and a yield of 4.34%. The ex-dividend date was Tuesday, February 5th. Nextera Energy Partners’s dividend payout ratio is 63.92%.

A number of hedge funds have recently bought and sold shares of the stock. FMR LLC raised its position in Nextera Energy Partners by 20.2% during the fourth quarter. FMR LLC now owns 1,477,258 shares of the solar energy provider’s stock valued at $63,596,000 after purchasing an additional 248,216 shares in the last quarter. Ecofin Ltd. raised its position in Nextera Energy Partners by 46.4% during the fourth quarter. Ecofin Ltd. now owns 287,405 shares of the solar energy provider’s stock valued at $12,373,000 after purchasing an additional 91,070 shares in the last quarter. Nordea Investment Management AB raised its position in Nextera Energy Partners by 5.8% during the fourth quarter. Nordea Investment Management AB now owns 104,283 shares of the solar energy provider’s stock valued at $4,489,000 after purchasing an additional 5,678 shares in the last quarter. Millennium Management LLC raised its position in Nextera Energy Partners by 5.2% during the fourth quarter. Millennium Management LLC now owns 135,372 shares of the solar energy provider’s stock valued at $5,828,000 after purchasing an additional 6,697 shares in the last quarter. Finally, Legal & General Group Plc raised its position in Nextera Energy Partners by 136.2% during the fourth quarter. Legal & General Group Plc now owns 1,424 shares of the solar energy provider’s stock valued at $61,000 after purchasing an additional 821 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

About Nextera Energy Partners

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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Analyst Recommendations for Nextera Energy Partners (NYSE:NEP)

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