Advisors Asset Management Inc. lowered its position in shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 11.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,450 shares of the solar energy provider’s stock after selling 1,251 shares during the quarter. Advisors Asset Management Inc.’s holdings in NextEra Energy Partners were worth $683,000 as of its most recent SEC filing.
A number of other large investors have also made changes to their positions in NEP. Castle Wealth Management LLC acquired a new stake in shares of NextEra Energy Partners during the third quarter valued at approximately $35,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of NextEra Energy Partners during the first quarter valued at approximately $36,000. CWM LLC purchased a new position in NextEra Energy Partners during the third quarter valued at approximately $37,000. Lazard Asset Management LLC grew its position in NextEra Energy Partners by 69.6% during the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after purchasing an additional 224 shares in the last quarter. Finally, Allworth Financial LP grew its position in NextEra Energy Partners by 105.8% during the third quarter. Allworth Financial LP now owns 1,070 shares of the solar energy provider’s stock valued at $77,000 after purchasing an additional 550 shares in the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts recently commented on the stock. Oppenheimer boosted their price objective on shares of NextEra Energy Partners from $88.00 to $94.00 and gave the company an “outperform” rating in a research report on Thursday, January 26th. StockNews.com downgraded shares of NextEra Energy Partners from a “hold” rating to a “sell” rating in a research report on Thursday, January 26th. Raymond James raised shares of NextEra Energy Partners from an “underperform” rating to a “market perform” rating in a research report on Wednesday, January 4th. Royal Bank of Canada lowered their price objective on shares of NextEra Energy Partners from $89.00 to $87.00 and set an “outperform” rating on the stock in a research report on Monday, January 30th. Finally, Morgan Stanley lowered their price objective on shares of NextEra Energy Partners from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Monday, January 23rd. Two research analysts have rated the stock with a sell rating, three have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $85.40.
NextEra Energy Partners Price Performance
NYSE:NEP opened at $72.64 on Wednesday. The stock has a market cap of $6.29 billion, a P/E ratio of 12.83, a PEG ratio of 2.91 and a beta of 0.92. NextEra Energy Partners, LP has a one year low of $61.31 and a one year high of $86.06. The company has a fifty day moving average price of $73.32 and a 200 day moving average price of $76.69. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.91 and a quick ratio of 1.80.
NextEra Energy Partners (NYSE:NEP – Get Rating) last released its earnings results on Wednesday, January 25th. The solar energy provider reported $0.40 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.12). The company had revenue of $266.00 million for the quarter, compared to analyst estimates of $336.74 million. NextEra Energy Partners had a net margin of 39.39% and a return on equity of 4.00%. NextEra Energy Partners’s revenue for the quarter was up 14.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned ($0.12) earnings per share. Analysts anticipate that NextEra Energy Partners, LP will post 2.49 earnings per share for the current year.
NextEra Energy Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 14th. Stockholders of record on Monday, February 6th were paid a $0.8125 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.79. The ex-dividend date of this dividend was Friday, February 3rd. This represents a $3.25 dividend on an annualized basis and a dividend yield of 4.47%. NextEra Energy Partners’s dividend payout ratio is currently 57.42%.
About NextEra Energy Partners
NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
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