UBS Group Reiterates “$90.00” Price Target for NextEra Energy Partners (NYSE:NEP)

UBS Group set a $90.00 target price on NextEra Energy Partners (NYSE:NEPGet Rating) in a research report sent to investors on Monday morning, Stock Target Advisor reports.

A number of other brokerages have also commented on NEP. StockNews.com upgraded NextEra Energy Partners from a sell rating to a hold rating in a report on Sunday, April 3rd. Credit Suisse Group cut their price target on NextEra Energy Partners from $78.00 to $74.00 and set an outperform rating on the stock in a report on Wednesday, June 15th. Morgan Stanley cut their price target on NextEra Energy Partners from $93.00 to $86.00 and set an equal weight rating on the stock in a report on Monday, June 13th. CIBC started coverage on NextEra Energy Partners in a report on Thursday, June 9th. They issued a neutral rating and a $79.00 price target on the stock. Finally, KeyCorp cut their price target on NextEra Energy Partners from $89.00 to $83.00 and set an overweight rating on the stock in a report on Wednesday, April 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of Hold and an average target price of $84.86.

NYSE:NEP opened at $74.82 on Monday. NextEra Energy Partners has a 1 year low of $61.31 and a 1 year high of $88.80. The company has a current ratio of 1.60, a quick ratio of 1.55 and a debt-to-equity ratio of 0.48. The stock has a market cap of $6.28 billion, a price-to-earnings ratio of 86.00, a PEG ratio of 2.71 and a beta of 0.92. The stock has a 50-day moving average price of $69.70 and a two-hundred day moving average price of $75.64.

NextEra Energy Partners (NYSE:NEPGet Rating) last posted its earnings results on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. NextEra Energy Partners had a return on equity of 1.58% and a net margin of 15.13%. The firm had revenue of $281.00 million during the quarter, compared to analysts’ expectations of $305.98 million. During the same period in the previous year, the firm earned $2.66 earnings per share. The company’s revenue was up 14.2% on a year-over-year basis. Sell-side analysts forecast that NextEra Energy Partners will post 2.58 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Thursday, May 12th. Investors of record on Thursday, May 5th were issued a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a yield of 3.92%. The ex-dividend date of this dividend was Wednesday, May 4th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.71. NextEra Energy Partners’s dividend payout ratio is presently 336.78%.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEP. BlackRock Inc. raised its stake in NextEra Energy Partners by 4.9% in the first quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock valued at $634,357,000 after buying an additional 356,265 shares during the period. 1832 Asset Management L.P. raised its stake in NextEra Energy Partners by 2.2% in the fourth quarter. 1832 Asset Management L.P. now owns 1,797,802 shares of the solar energy provider’s stock valued at $151,317,000 after buying an additional 39,408 shares during the period. Eventide Asset Management LLC raised its stake in NextEra Energy Partners by 8.7% in the fourth quarter. Eventide Asset Management LLC now owns 1,664,600 shares of the solar energy provider’s stock valued at $140,492,000 after buying an additional 132,600 shares during the period. ClearBridge Investments Ltd raised its stake in NextEra Energy Partners by 94.8% in 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 during the period. Finally, Royal Bank of Canada raised its stake in NextEra Energy Partners by 11.3% in the first quarter. Royal Bank of Canada now owns 1,414,631 shares of the solar energy provider’s stock valued at $117,923,000 after buying an additional 143,130 shares during the period. Institutional investors and hedge funds own 81.32% of the company’s stock.

NextEra Energy Partners Company Profile (Get Rating)

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.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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