Vanguard Group Inc. increased its stake in NextEra Energy Partners, LP (NYSE:NEP – Free Report) by 3.6% during the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 635,881 shares of the solar energy provider after acquiring an additional 22,370 shares during the same period. Vanguard Group Inc. owned 0.68% of NextEra Energy Partners valued at $19,127,000 at the end of the last quarter.
Other institutional investors have also made changes to their positions in the company. CWM LLC increased its holdings in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after purchasing an additional 511 shares during the same period. Newbridge Financial Services Group Inc. increased its holdings in shares of NextEra Energy Partners by 46.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after purchasing an additional 532 shares during the same period. Hexagon Capital Partners LLC increased its holdings in shares of NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the last quarter. Arizona State Retirement System increased its stake in NextEra Energy Partners by 3.2% in the 4th quarter. Arizona State Retirement System now owns 26,119 shares of the solar energy provider’s stock worth $794,000 after purchasing an additional 806 shares during the same period. Finally, Richardson Financial Services Inc. bought a new position in NextEra Energy Partners in the 4th quarter valued at about $27,000. 66.01% of the shares are owned by institutional investors and hedge funds.
Wall Street analysts comment
Several research firms have recently commented on NEP. BMO Capital Markets decreased their price target on NextEra Energy Partners from $32.00 to $28.00 and gave the stock an “outperform” rating in a research report on Monday, July 22nd. Morgan Stanley downgraded shares of NextEra Energy Partners from “equal weight” to “underweight” in a research note on Wednesday, July 31st and decreased their price target for the company from $31.00 to $20.00. Wolfe Research downgraded shares of NextEra Energy Partners from “outperform” to “peer perform” in a research report on Thursday, July 25th. Oppenheimer reiterated a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25. Four investment analysts have rated the stock with a “sell,” eleven have rated it with a “hold,” and three have rated it with a “buy.” Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $33.00.
Read our latest research report on NextEra Energy Partners
Price development of NextEra Energy Partners
NextEra Energy Partners shares opened at $23.83 on Monday. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The stock has a market cap of $2.23 billion, a price-to-earnings ratio of 7.81 and a beta of 1.03. NextEra Energy Partners, LP has a twelve-month low of $20.17 and a twelve-month high of $51.53. The company has a 50-day moving average of $27.77 and a 200-day moving average of $28.89.
NextEra Energy Partners (NYSE:NEP – Get Free Report) released its latest earnings results on Wednesday, July 24. The solar energy provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company’s revenue grew 22.9% compared to the year-ago quarter. During the same period last year, the company reported earnings per share of $0.53. Analysts forecast that NextEra Energy Partners, LP will report earnings per share of $1.78 for the current year.
NextEra Energy Partners increases dividend
The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th will receive a dividend of $0.905. This represents an annualized dividend of $3.62 and a yield of 15.19%. The ex-dividend date of this dividend is Tuesday, August 6th. This is an increase from NextEra Energy Partners’ previous quarterly dividend of $0.89. NextEra Energy Partners’ payout ratio is currently 118.69%.
Profile of NextEra Energy Partners
(Free report)
NextEra Energy Partners, LP acquires, owns and manages contracted clean energy projects in the United States. The company owns a portfolio of contracted renewable energy generation assets consisting of wind, solar and battery storage projects. The company owns contracted natural gas pipelines. NextEra Energy Partners, LP was founded in 2014 and is based in Juno Beach, Florida.
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