NextEra Energy Partners, LP (NYSE:NEP – Get Rating) announced a quarterly dividend on Thursday, January 26th, Wall Street Journal reports. Shareholders of record on Monday, February 6th will be given a dividend of 0.8125 per share by the solar energy provider on Tuesday, February 14th. This represents a $3.25 annualized dividend and a yield of 4.43%. The ex-dividend date is Friday, February 3rd. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.79.
NextEra Energy Partners has increased its dividend by an average of 15.0% annually over the last three years and has raised its dividend every year for the last 8 years. NextEra Energy Partners has a dividend payout ratio of 92.4% meaning its dividend is currently covered by earnings, but may not be in the future if the company's earnings fall. Analysts expect NextEra Energy Partners to earn $3.76 per share next year, which means the company should continue to be able to cover its $3.15 annual dividend with an expected future payout ratio of 83.8%.
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NEP opened at $73.39 on Friday. The company has a quick ratio of 1.80, a current ratio of 1.91 and a debt-to-equity ratio of 0.38. The firm has a market cap of $6.35 billion, a P/E ratio of 12.97, a PEG ratio of 2.40 and a beta of 0.92. NextEra Energy Partners has a 52 week low of $61.31 and a 52 week high of $86.06. The business's fifty day simple moving average is $75.03 and its 200 day simple moving average is $77.06.
NextEra Energy Partners (NYSE:NEP – Get Rating) last posted its quarterly earnings data on Wednesday, January 25th. The solar energy provider reported $0.40 EPS for the quarter, missing analysts' consensus estimates of $0.52 by ($0.12). The company had revenue of $266.00 million for the quarter, compared to analyst estimates of $336.74 million. NextEra Energy Partners had a net margin of 39.39% and a return on equity of 4.00%. The firm's revenue was up 14.7% on a year-over-year basis. During the same period in the previous year, the business earned ($0.12) EPS. As a group, equities research analysts anticipate that NextEra Energy Partners will post 3 EPS for the current fiscal year.Institutional Trading of NextEra Energy Partners
A number of institutional investors have recently modified their holdings of NEP. ClearBridge Investments Ltd lifted its position in NextEra Energy Partners by 94.8% during the first quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider's stock valued at $128,470,000 after buying an additional 750,144 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of NextEra Energy Partners by 4.9% during the 1st quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider's stock valued at $634,357,000 after acquiring an additional 356,265 shares in the last quarter. Eaton Vance Management lifted its holdings in shares of NextEra Energy Partners by 46.2% during the 1st quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider's stock valued at $60,939,000 after acquiring an additional 231,102 shares in the last quarter. Royal Bank of Canada boosted its position in NextEra Energy Partners by 11.3% during the 1st quarter. Royal Bank of Canada now owns 1,414,631 shares of the solar energy provider's stock worth $117,923,000 after purchasing an additional 143,130 shares during the period. Finally, Millennium Management LLC increased its holdings in NextEra Energy Partners by 235.1% in the 2nd quarter. Millennium Management LLC now owns 112,492 shares of the solar energy provider's stock valued at $8,342,000 after purchasing an additional 78,920 shares in the last quarter. Hedge funds and other institutional investors own 83.05% of the company's stock.
Analyst Ratings Changes
A number of analysts recently commented on NEP shares. StockNews.com lowered NextEra Energy Partners from a "hold" rating to a "sell" rating in a research note on Thursday. Raymond James raised NextEra Energy Partners from an "underperform" rating to a "market perform" rating in a research note on Wednesday, January 4th. Morgan Stanley reduced their target price on NextEra Energy Partners from $88.00 to $86.00 and set an "equal weight" rating on the stock in a research report on Monday. Credit Suisse Group reduced their target price on NextEra Energy Partners from $90.00 to $87.00 and set an "outperform" rating on the stock in a research report on Wednesday, November 2nd. Finally, KeyCorp reduced their target price on NextEra Energy Partners from $89.00 to $83.00 and set an "overweight" rating on the stock in a research report on Thursday, October 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $85.60.
NextEra Energy Partners Company Profile
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NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
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