NextEra Energy Partners LP (NEP) Sees Large Volume Increase
Shares of NextEra Energy Partners LP (NYSE:NEP) saw unusually-high trading volume on Friday . Approximately 240,647 shares traded 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.
NEP has been the subject of several research reports. Zacks Investment Research downgraded shares of NextEra Energy Partners from a “hold” rating to a “sell” rating in a research report on Tuesday, July 19th. Avondale Partners downgraded shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Thursday, July 28th. Seven analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $31.70.
The stock has a market capitalization of $1.29 billion and a PE ratio of 51.75. The company’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 issued its quarterly 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 firm 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 earned $0.16 EPS. On average, equities analysts expect that NextEra Energy Partners LP will post $1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Thursday, August 4th were given a $0.33 dividend. The ex-dividend date of this dividend was Tuesday, August 2nd. This represents a $1.32 dividend on an annualized basis and a dividend yield of 4.33%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.32.
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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