NextEra Energy Partners, LP (NYSE:NEP) Shares Bought by National Asset Management Inc.

National Asset Management Inc. grew its position in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 3.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,245 shares of the solar energy provider’s stock after acquiring an additional 237 shares during the quarter. National Asset Management Inc.’s holdings in NextEra Energy Partners were worth $688,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NEP. Eventide Asset Management LLC increased its stake in NextEra Energy Partners by 8.7% during the fourth quarter. Eventide Asset Management LLC now owns 1,664,600 shares of the solar energy provider’s stock worth $140,492,000 after acquiring an additional 132,600 shares during the last quarter. First Trust Advisors LP increased its stake in NextEra Energy Partners by 20.9% during the fourth quarter. First Trust Advisors LP now owns 719,702 shares of the solar energy provider’s stock worth $60,743,000 after acquiring an additional 124,554 shares during the last quarter. Credit Agricole S A increased its stake in NextEra Energy Partners by 20.0% during the fourth quarter. Credit Agricole S A now owns 734,627 shares of the solar energy provider’s stock worth $62,003,000 after acquiring an additional 122,564 shares during the last quarter. SG Americas Securities LLC increased its stake in NextEra Energy Partners by 662.2% during the first quarter. SG Americas Securities LLC now owns 140,978 shares of the solar energy provider’s stock worth $11,752,000 after acquiring an additional 122,481 shares during the last quarter. Finally, Renaissance Technologies LLC purchased a new stake in shares of NextEra Energy Partners in the fourth quarter worth about $7,292,000. 81.32% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Trading Up 4.5 %

Shares of NEP opened at $80.72 on Tuesday. The company has a market capitalization of $6.77 billion, a P/E ratio of 18.14, a P/E/G ratio of 2.86 and a beta of 0.86. NextEra Energy Partners, LP has a one year low of $61.31 and a one year high of $88.80. The company has a debt-to-equity ratio of 0.48, a quick ratio of 1.55 and a current ratio of 1.60. The stock has a 50-day moving average price of $72.81 and a 200 day moving average price of $74.24.

NextEra Energy Partners (NYSE:NEPGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The solar energy provider reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $0.37 by $2.24. The firm had revenue of $362.00 million during the quarter, compared to the consensus estimate of $345.09 million. NextEra Energy Partners had a return on equity of 4.40% and a net margin of 39.66%. NextEra Energy Partners’s revenue for the quarter was up 43.1% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.97) earnings per share. Sell-side analysts forecast that NextEra Energy Partners, LP will post 2.7 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, August 12th. Shareholders of record on Thursday, August 4th will be issued a dividend of $0.7625 per share. This represents a $3.05 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Wednesday, August 3rd. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.73. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 65.84%.

Analyst Ratings Changes

Several brokerages have recently weighed in on NEP. TheStreet raised NextEra Energy Partners from a “c” rating to a “b-” rating in a research report on Thursday, June 30th. Credit Suisse Group upped their target price on NextEra Energy Partners from $74.00 to $79.00 and gave the stock an “outperform” rating in a research report on Monday. CIBC began coverage on NextEra Energy Partners in a research report on Thursday, June 9th. They issued a “neutral” rating and a $79.00 target price for the company. Royal Bank of Canada raised NextEra Energy Partners from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $86.00 to $89.00 in a research report on Friday, June 17th. Finally, Morgan Stanley decreased their target price on NextEra Energy Partners from $93.00 to $86.00 and set an “equal weight” rating for the company in a research report on Monday, June 13th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and an average target price of $86.00.

About NextEra Energy Partners

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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. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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

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