Nextera Energy Partners LP (NYSE:NEP) – Gabelli issued their FY2022 earnings per share (EPS) estimates for shares of Nextera Energy Partners in a report issued on Monday. Gabelli analyst T. Winter expects that the solar energy provider will post earnings of $4.51 per share for the year.

Several other brokerages have also issued reports on NEP. Guggenheim initiated coverage on Nextera Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price target on the stock. JPMorgan Chase & Co. dropped their price target on Nextera Energy Partners from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. TheStreet lowered Nextera Energy Partners from a “b” rating to a “c+” rating in a research note on Thursday, October 26th. Bank of America reissued an “underperform” rating and issued a $35.00 price target on shares of Nextera Energy Partners in a research note on Tuesday, October 24th. Finally, Morgan Stanley raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price target on the stock in a research note on Tuesday, December 12th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $40.38.

Shares of Nextera Energy Partners (NYSE:NEP) traded up $0.50 on Tuesday, reaching $44.32. The company’s stock had a trading volume of 169,312 shares, compared to its average volume of 292,056. Nextera Energy Partners has a 12-month low of $30.08 and a 12-month high of $44.58. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20. The firm has a market capitalization of $2,334.96, a price-to-earnings ratio of -36.24, a PEG ratio of 2.34 and a beta of 1.20.

Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Friday, January 26th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.07). Nextera Energy Partners had a negative net margin of 8.63% and a positive return on equity of 1.70%. The business had revenue of $197.00 million during the quarter, compared to analyst estimates of $251.41 million. During the same period last year, the firm posted ($0.23) earnings per share.

Several large investors have recently modified their holdings of NEP. JPMorgan Chase & Co. raised its position in Nextera Energy Partners by 7.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 120,524 shares of the solar energy provider’s stock valued at $4,457,000 after buying an additional 7,833 shares during the last quarter. BlackRock Inc. raised its position in Nextera Energy Partners by 9.9% in the 2nd quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock valued at $120,672,000 after buying an additional 293,830 shares during the last quarter. Citigroup Inc. raised its position in Nextera Energy Partners by 1,038.2% in the 2nd quarter. Citigroup Inc. now owns 17,619 shares of the solar energy provider’s stock valued at $651,000 after buying an additional 16,071 shares during the last quarter. Northern Trust Corp raised its position in Nextera Energy Partners by 19.8% in the 2nd quarter. Northern Trust Corp now owns 19,048 shares of the solar energy provider’s stock valued at $705,000 after buying an additional 3,154 shares during the last quarter. Finally, Vanguard Group Inc. raised its position in Nextera Energy Partners by 4.4% in the 2nd quarter. Vanguard Group Inc. now owns 242,207 shares of the solar energy provider’s stock valued at $8,959,000 after buying an additional 10,256 shares during the last quarter. 84.42% of the stock is currently owned by institutional investors.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th will be given a dividend of $0.405 per share. This represents a $1.62 dividend on an annualized basis and a dividend yield of 3.66%. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.39. The ex-dividend date is Friday, February 2nd. Nextera Energy Partners’s dividend payout ratio is presently -130.83%.

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About Nextera Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

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