NextEra Energy Partners LP (NEP) Sees Unusually-High Trading Volume
NextEra Energy Partners LP (NYSE:NEP) saw an uptick in trading volume on Friday . 240,647 shares changed hands during trading, an increase of 44% from the previous session’s volume of 167,139 shares.The stock last traded at $30.50 and had previously closed at $30.81.
Several brokerages have recently commented on NEP. Zacks Investment Research raised NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $32.00 price target on the stock in a research note on Thursday, April 28th. Avondale Partners lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Thursday, July 28th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $31.70.
The company has a market cap of $1.29 billion and a PE ratio of 51.75. The stock’s 50 day moving average price is $30.85 and its 200-day moving average price is $28.46.
NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, July 27th. The company reported $0.19 EPS for the quarter, missing the consensus estimate of $0.33 by $0.14. The business had revenue of $171 million for the quarter, compared to the consensus estimate of $195.70 million. During the same quarter in the prior year, the firm earned $0.16 EPS. On average, equities research analysts forecast that NextEra Energy Partners LP will post $1.15 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were paid a $0.33 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.32. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.32 annualized dividend and a dividend yield of 4.33%.
An institutional investor recently raised its position in NextEra Energy Partners stock. Morgan Stanley boosted its stake in shares of NextEra Energy Partners LP (NYSE:NEP) by 1.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 696,043 shares of the company’s stock after buying an additional 10,309 shares during the period. Morgan Stanley owned 2.27% of NextEra Energy Partners worth $20,776,000 as of its most recent SEC filing.
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.
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