NextEra Energy Partners, LP (NEP) to Issue Dividend of $0.92 on November 14th

by · The Markets Daily

NextEra Energy Partners, LP (NYSE:NEP – Get Free Report) announced a dividend on Tuesday, October 22nd, NASDAQ reports. Investors of record on Wednesday, November 6th will be given a dividend of 0.9175 per share by the solar energy provider on Thursday, November 14th. The ex-dividend date of this dividend is Wednesday, November 6th.

NextEra Energy Partners has increased its dividend by an average of 14.3% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. NextEra Energy Partners has a dividend payout ratio of 155.4% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect NextEra Energy Partners to earn $1.56 per share next year, which means the company may not be able to cover its $3.62 annual dividend with an expected future payout ratio of 232.1%.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock traded down $0.03 during trading on Thursday, reaching $20.98. The company’s stock had a trading volume of 5,995,694 shares, compared to its average volume of 1,459,118. The stock has a 50-day moving average price of $25.61 and a two-hundred day moving average price of $27.77. The stock has a market capitalization of $1.96 billion, a P/E ratio of 6.88 and a beta of 1.06. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a one year low of $20.28 and a one year high of $35.15.

NextEra Energy Partners (NYSE:NEP – Get Free Report) last announced its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm posted $0.57 earnings per share. As a group, sell-side analysts anticipate that NextEra Energy Partners will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. BNP Paribas began coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective for the company. Jefferies Financial Group reduced their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets reduced their price objective on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $27.85.

View Our Latest Report on NextEra Energy Partners

NextEra Energy Partners Company Profile

(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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