NextEra Energy Partners, LP (NYSE:NEP) Short Interest Update

NextEra Energy Partners, LP (NYSE:NEPGet Free Report) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 3,560,000 shares, a decrease of 37.7% from the May 15th total of 5,710,000 shares. Based on an average daily volume of 1,420,000 shares, the days-to-cover ratio is currently 2.5 days.

Analyst Ratings Changes

A number of brokerages recently commented on NEP. Oppenheimer reaffirmed a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. Barclays downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $32.00 to $25.00 in a research report on Thursday. Raymond James lowered their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. JPMorgan Chase & Co. reissued an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company. According to MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and an average price target of $38.79.

Get Our Latest Stock Report on NEP

Hedge Funds Weigh In On NextEra Energy Partners

Several institutional investors and hedge funds have recently made changes to their positions in NEP. New York Life Investment Management LLC grew its holdings in NextEra Energy Partners by 118.8% in the 3rd quarter. New York Life Investment Management LLC now owns 9,343 shares of the solar energy provider’s stock valued at $277,000 after buying an additional 5,072 shares in the last quarter. Swiss National Bank grew its stake in shares of NextEra Energy Partners by 3.7% in the third quarter. Swiss National Bank now owns 195,400 shares of the solar energy provider’s stock valued at $5,803,000 after acquiring an additional 6,900 shares in the last quarter. Janney Montgomery Scott LLC increased its position in NextEra Energy Partners by 22.8% during the third quarter. Janney Montgomery Scott LLC now owns 65,315 shares of the solar energy provider’s stock worth $1,940,000 after acquiring an additional 12,108 shares during the period. PNC Financial Services Group Inc. raised its stake in NextEra Energy Partners by 243.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 10,641 shares of the solar energy provider’s stock worth $316,000 after purchasing an additional 7,546 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its holdings in NextEra Energy Partners by 189.5% in the 3rd quarter. Johnson Investment Counsel Inc. now owns 33,473 shares of the solar energy provider’s stock valued at $994,000 after purchasing an additional 21,909 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NEP stock traded down $2.32 during trading on Thursday, reaching $28.88. 3,547,479 shares of the company’s stock were exchanged, compared to its average volume of 1,439,875. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $63.18. The firm’s fifty day moving average price is $30.96 and its 200-day moving average price is $29.25. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $2.70 billion, a PE ratio of 9.59 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEPGet Free Report) last released its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. The firm had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period in the previous year, the company earned ($0.17) earnings per share. As a group, sell-side analysts anticipate that NextEra Energy Partners will post 1.89 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 12.36%. The ex-dividend date was Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is currently 117.05%.

About NextEra Energy Partners

(Get Free Report)

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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.

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