NextEra Energy Partners, LP (NYSE:NEP) declared a quarterly dividend on Wednesday, July 26th, NASDAQ reports. Stockholders of record on Monday, August 7th will be given a dividend of 0.38 per share by the solar energy provider on Monday, August 14th. This represents a $1.52 annualized dividend and a dividend yield of 3.80%. The ex-dividend date of this dividend is Thursday, August 3rd. This is a boost from NextEra Energy Partners,’s previous quarterly dividend of $0.37.
NextEra Energy Partners, has a payout ratio of 115.2% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect NextEra Energy Partners, to earn $1.70 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 89.4%.
Shares of NextEra Energy Partners, (NYSE NEP) traded down 1.40% on Tuesday, hitting $39.49. The stock had a trading volume of 285,323 shares. The stock has a market cap of $2.14 billion, a PE ratio of 21.75 and a beta of 1.26. The company has a 50 day moving average price of $37.77 and a 200-day moving average price of $33.72. NextEra Energy Partners, has a 12 month low of $23.90 and a 12 month high of $41.49.
NextEra Energy Partners, (NYSE:NEP) last released its quarterly earnings data on Wednesday, July 26th. The solar energy provider reported $0.24 EPS for the quarter, missing the consensus estimate of $0.43 by $0.19. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%. The business had revenue of $204 million during the quarter, compared to analysts’ expectations of $232.03 million. On average, equities research analysts anticipate that NextEra Energy Partners, will post $1.58 earnings per share for the current year.
A number of research analysts have issued reports on the stock. UBS AG restated a “neutral” rating and issued a $32.00 target price (up from $31.00) on shares of NextEra Energy Partners, in a report on Tuesday, April 25th. BMO Capital Markets increased their price objective on shares of NextEra Energy Partners, from $35.00 to $45.00 and gave the stock an “outperform” rating in a report on Friday, July 28th. BidaskClub upgraded shares of NextEra Energy Partners, from a “buy” rating to a “strong-buy” rating in a report on Monday, July 31st. ValuEngine downgraded shares of NextEra Energy Partners, from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Deutsche Bank AG reissued a “buy” rating and set a $42.00 target price (up previously from $39.00) on shares of NextEra Energy Partners, in a research report on Thursday, July 27th. Five research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $38.57.
In other news, insider Armando Pimentel, Jr. purchased 5,000 shares of NextEra Energy Partners, stock in a transaction dated Friday, July 14th. The stock was acquired at an average cost of $38.23 per share, for a total transaction of $191,150.00. Following the acquisition, the insider now directly owns 20,000 shares in the company, valued at $764,600. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark E. Hickson purchased 1,350 shares of NextEra Energy Partners, stock in a transaction dated Wednesday, July 5th. The shares were purchased at an average price of $37.51 per share, with a total value of $50,638.50. Following the completion of the acquisition, the executive vice president now owns 4,780 shares in the company, valued at $179,297.80. The disclosure for this purchase can be found here. 0.46% of the stock is owned by insiders.
NextEra Energy Partners, Company Profile
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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