Nextera Energy Partners LP (NEP) Position Cut by Tealwood Asset Management Inc.

Tealwood Asset Management Inc. decreased its position in Nextera Energy Partners LP (NYSE:NEP) by 5.8% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 55,902 shares of the solar energy provider’s stock after selling 3,424 shares during the period. Tealwood Asset Management Inc.’s holdings in Nextera Energy Partners were worth $2,607,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Nextera Energy Partners by 20.2% during the fourth quarter. FMR LLC now owns 1,477,258 shares of the solar energy provider’s stock valued at $63,596,000 after purchasing an additional 248,216 shares during the period. Ecofin Ltd. raised its holdings in shares of Nextera Energy Partners by 46.4% during the fourth quarter. Ecofin Ltd. now owns 287,405 shares of the solar energy provider’s stock valued at $12,373,000 after purchasing an additional 91,070 shares during the period. Nordea Investment Management AB raised its holdings in shares of Nextera Energy Partners by 5.8% during the fourth quarter. Nordea Investment Management AB now owns 104,283 shares of the solar energy provider’s stock valued at $4,489,000 after purchasing an additional 5,678 shares during the period. Millennium Management LLC raised its holdings in shares of Nextera Energy Partners by 5.2% during the fourth quarter. Millennium Management LLC now owns 135,372 shares of the solar energy provider’s stock valued at $5,828,000 after purchasing an additional 6,697 shares during the period. Finally, Legal & General Group Plc raised its holdings in shares of Nextera Energy Partners by 136.2% during the fourth quarter. Legal & General Group Plc now owns 1,424 shares of the solar energy provider’s stock valued at $61,000 after purchasing an additional 821 shares during the period. Hedge funds and other institutional investors own 82.00% of the company’s stock.

Shares of NYSE:NEP traded up $0.21 during midday trading on Monday, hitting $47.72. 41,299 shares of the company’s stock were exchanged, compared to its average volume of 220,345. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.40 and a quick ratio of 0.40. The company has a market cap of $2.68 billion, a PE ratio of 16.40, a PEG ratio of 2.59 and a beta of 0.96. Nextera Energy Partners LP has a 12 month low of $38.24 and a 12 month high of $50.66.

Nextera Energy Partners (NYSE:NEP) last posted its earnings results on Friday, January 25th. The solar energy provider reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.88). The business had revenue of $155.00 million for the quarter, compared to the consensus estimate of $276.40 million. Nextera Energy Partners had a return on equity of 4.83% and a net margin of 23.25%. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, equities research analysts expect that Nextera Energy Partners LP will post 2.04 earnings per share for the current fiscal year.

Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Nextera Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, March 15th. TheStreet upgraded shares of Nextera Energy Partners from a “c+” rating to a “b-” rating in a report on Monday, March 25th. Barclays downgraded shares of Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $49.00 target price for the company. in a research report on Thursday, March 7th. ValuEngine raised shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research report on Tuesday, March 5th. Finally, Goldman Sachs Group raised shares of Nextera Energy Partners from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $45.00 to $49.00 in a research report on Sunday, March 31st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and six have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $47.45.

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Nextera Energy Partners Company Profile

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.

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Institutional Ownership by Quarter for Nextera Energy Partners (NYSE:NEP)

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