NextEra Energy Partners, LP (NYSE:NEP) Declares Dividend of $0.92

NextEra Energy Partners, LP (NYSE:NEP) declared a dividend on Tuesday, October 22nd, NASDAQ reports. Stockholders of record on Wednesday, November 6th will be paid 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 raised its dividend by an average of 14.3% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. NextEra Energy Partners has a payout ratio of 155.4% 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 $1.56 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 Stock Performance

NEP stock traded down $0.03 during trading on Thursday, hitting $20.98. 5,995,694 shares of the company traded hands, compared to its average volume of 1,459,118. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. NextEra Energy Partners has a 1 year low of $20.28 and a 1 year high of $35.15. The stock’s 50-day simple moving average is $25.61 and its 200 day simple moving average is $27.77. The company has a market cap of $1.96 billion, a PE ratio of 6.88 and a beta of 1.06.

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

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on NEP shares. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Mizuho reduced their target price on 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. Evercore ISI dropped their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday. BNP Paribas started coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective on the stock. Finally, Barclays reissued an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, NextEra Energy Partners has a consensus rating of “Hold” and an average price target of $27.85.

NextEra Energy Partners Company Profile

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.