Janney Montgomery Scott LLC lifted its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 50.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 38,525 shares of the solar energy provider’s stock after acquiring an additional 12,852 shares during the period. Janney Montgomery Scott LLC’s holdings in NextEra Energy Partners were worth $2,310,000 at the end of the most recent reporting period.
A number of other hedge funds have also bought and sold shares of NEP. FMR LLC increased its stake in NextEra Energy Partners by 9.6% in the second quarter. FMR LLC now owns 3,368,897 shares of the solar energy provider’s stock valued at $172,757,000 after purchasing an additional 293,712 shares during the last quarter. Bank of New York Mellon Corp grew its position in shares of NextEra Energy Partners by 103.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 2,326,087 shares of the solar energy provider’s stock valued at $119,283,000 after buying an additional 1,185,276 shares during the last quarter. Kayne Anderson Capital Advisors LP raised its stake in NextEra Energy Partners by 0.4% during the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 1,812,201 shares of the solar energy provider’s stock worth $92,920,000 after acquiring an additional 6,860 shares in the last quarter. Beach Investment Counsel Inc. PA lifted its position in NextEra Energy Partners by 18.4% in the third quarter. Beach Investment Counsel Inc. PA now owns 1,603,060 shares of the solar energy provider’s stock valued at $96,119,000 after acquiring an additional 249,693 shares during the last quarter. Finally, Artemis Investment Management LLP boosted its stake in NextEra Energy Partners by 2.0% in the third quarter. Artemis Investment Management LLP now owns 1,581,005 shares of the solar energy provider’s stock valued at $94,751,000 after acquiring an additional 31,174 shares in the last quarter. Hedge funds and other institutional investors own 82.65% of the company’s stock.
Several analysts have recently weighed in on NEP shares. Morgan Stanley reduced their target price on NextEra Energy Partners from $59.00 to $56.00 and set an “equal weight” rating for the company in a report on Tuesday. Raymond James increased their price objective on NextEra Energy Partners from $64.00 to $73.00 and gave the company an “outperform” rating in a report on Thursday, October 8th. Vertical Research raised shares of NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $72.00 target price on the stock in a report on Friday, October 16th. Credit Suisse Group increased their price target on shares of NextEra Energy Partners from $60.00 to $69.00 and gave the stock an “outperform” rating in a research note on Monday, October 19th. Finally, Seaport Global Securities assumed coverage on shares of NextEra Energy Partners in a research note on Tuesday, September 8th. They issued a “buy” rating and a $62.00 price objective on the stock. Four investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $63.96.
NYSE NEP opened at $63.85 on Friday. The company has a quick ratio of 1.25, a current ratio of 1.32 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $4.66 billion, a P/E ratio of -44.34 and a beta of 0.87. NextEra Energy Partners, LP has a 52-week low of $29.01 and a 52-week high of $69.14. The firm has a 50-day moving average price of $64.53 and a 200 day moving average price of $57.88.
NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, October 21st. The solar energy provider reported $0.76 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.14. During the same quarter in the previous year, the company posted $2.39 earnings per share. On average, equities research analysts expect that NextEra Energy Partners, LP will post -1.27 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, November 13th. Shareholders of record on Thursday, November 5th were issued a $0.595 dividend. The ex-dividend date was Wednesday, November 4th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.58. This represents a $2.38 dividend on an annualized basis and a yield of 3.73%. NextEra Energy Partners’s dividend payout ratio (DPR) is -157.62%.
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, as well as contracted natural gas pipeline assets. The company was founded in 2014 and is headquartered in Juno Beach, Florida.
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