NextEra Energy Partners LP (NEP) Sees Unusually-High Trading Volume
NextEra Energy Partners LP (NYSE:NEP) saw strong trading volume on Friday . 152,763 shares changed hands during mid-day trading, a decline of 7% from the previous session’s volume of 164,455 shares.The stock last traded at $30.73 and had previously closed at $30.64.
A number of analysts have issued reports on the company. Zacks Investment Research raised NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $32.00 target price on the stock in a research report on Thursday, April 28th. Avondale Partners lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Seven investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. NextEra Energy Partners has a consensus rating of “Hold” and an average target price of $32.73.
The company has a 50-day moving average price of $30.86 and a 200 day moving average price of $28.38. The stock has a market capitalization of $1.30 billion and a PE ratio of 52.41.
NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.33 by $0.14. The company had revenue of $171 million for the quarter, compared to analysts’ expectations of $195.70 million. During the same quarter in the prior year, the business posted $0.16 EPS. Analysts expect that NextEra Energy Partners LP will post $1.15 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Thursday, August 4th were given a dividend of $0.33 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.32. The ex-dividend date was Tuesday, August 2nd. This represents a $1.32 dividend on an annualized basis and a yield of 4.28%.
A hedge fund recently raised its stake in NextEra Energy Partners stock. Jennison Associates LLC increased its position in shares of NextEra Energy Partners LP (NYSE:NEP) by 2.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,225,812 shares of the company’s stock after buying an additional 51,264 shares during the period. Jennison Associates LLC owned 7.27% of NextEra Energy Partners worth $66,440,000 as of its most recent filing with the SEC.
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 approximately seven contracted natural gas pipeline assets.