Nextera Energy Partners LP (NEP) to Issue Quarterly Dividend of $0.50 on August 14th

Nextera Energy Partners LP (NYSE:NEP) declared a quarterly dividend on Tuesday, July 23rd, NASDAQ reports. Shareholders of record on Tuesday, August 6th will be given a dividend of 0.502 per share by the solar energy provider on Wednesday, August 14th. This represents a $2.01 dividend on an annualized basis and a yield of 4.08%. The ex-dividend date is Monday, August 5th.

Nextera Energy Partners has increased its dividend by an average of 23.7% annually over the last three years and has increased its dividend every year for the last 3 years. Nextera Energy Partners has a payout ratio of 67.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Nextera Energy Partners to earn $1.97 per share next year, which means the company may not be able to cover its $2.01 annual dividend with an expected future payout ratio of 102.0%.

Nextera Energy Partners stock opened at $49.21 on Friday. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 16.91, a P/E/G ratio of 13.51 and a beta of 0.93. The business has a fifty day simple moving average of $49.07. Nextera Energy Partners has a 52 week low of $39.35 and a 52 week high of $50.99.

Nextera Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.97). The business had revenue of $219.00 million during the quarter, compared to analyst estimates of $292.21 million. Nextera Energy Partners had a negative return on equity of 0.44% and a negative net margin of 2.88%. As a group, equities analysts forecast that Nextera Energy Partners will post 0.4 EPS for the current year.

NEP has been the topic of a number of recent analyst reports. ValuEngine raised Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Thursday. Zacks Investment Research raised Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday, June 26th. Finally, Barclays boosted their price objective on Nextera Energy Partners from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $51.07.

About Nextera Energy Partners

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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

Featured Story: What is Considered a Good Return on Equity (ROE)?

Dividend History for Nextera Energy Partners (NYSE:NEP)

Receive News & Ratings for Nextera Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextera Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.