RBC Capital analyst Shelby Tucker maintains $NextEra Energy Partners LP (NEP.US)$ with a hold rating, and maintains the target price at $29.
According to TipRanks data, the analyst has a success rate of 71.9% and a total average return of 11.5% over the past year.
Furthermore, according to the comprehensive report, the opinions of $NextEra Energy Partners LP (NEP.US)$'s main analysts recently are as follows:
NextEra Energy Partners' third-quarter performance did not meet expectations, mainly due to reduced wind resources. More crucially, the company has signaled its intention to update investors by or before the fourth-quarter earnings call about the strategic evaluation of its long-term convertible equity portfolio financing obligations and its cost structure. The anticipation of an announcement concerning asset transfers, combined with a potential distribution adjustment, is viewed as a potential stimulant for the stock that may enhance growth prospects into fiscal 2026 and further.
Following Q3 earnings, management indicated that a strategic update regarding cash deployment is expected by Q4, which may include a near-term dividend reduction. The subsequent decline in the stock's value was not solely a reaction to this news but also stemmed from speculation about the extent of the potential cut. The perspective offered is one of a lack of concern, suggesting that a dividend adjustment may be prudent to manage significant CEPF acquisitions and could align the dividend yield with that of industry counterparts.
Note:
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Success rate is the number of the analyst's successful ratings, divided by his/her total number of ratings over the past year. A successful rating is one based on if TipRanks' virtual portfolio earned a positive return from the stock. Total average return is the average rate of return that the TipRanks' virtual portfolio has earned over the past year. These portfolios are established based on the analyst's preliminary rating and are adjusted according to the changes in the rating.
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