Williams Jones Wealth Management LLC. Has $44.11 Million Position in NextEra Energy Partners, LP (NYSE:NEP)

Williams Jones Wealth Management LLC. lessened its stake in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 1.4% during the first quarter, Holdings Channel reports. The fund owned 529,107 shares of the solar energy provider’s stock after selling 7,429 shares during the quarter. Williams Jones Wealth Management LLC.’s holdings in NextEra Energy Partners were worth $44,106,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in shares of NextEra Energy Partners during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of NextEra Energy Partners during the 1st quarter valued at $36,000. Exane Derivatives acquired a new position in shares of NextEra Energy Partners during the 1st quarter valued at $63,000. Skandinaviska Enskilda Banken AB publ acquired a new position in shares of NextEra Energy Partners during the 4th quarter valued at $65,000. Finally, Comprehensive Financial Consultants Institutional Inc. bought a new stake in NextEra Energy Partners during the 4th quarter valued at $74,000. Institutional investors and hedge funds own 83.22% of the company’s stock.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $84.71 on Friday. NextEra Energy Partners, LP has a 1 year low of $61.31 and a 1 year high of $88.80. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 1.30. The firm has a market cap of $7.11 billion, a price-to-earnings ratio of 19.04, a PEG ratio of 1.86 and a beta of 0.86. The company has a fifty day moving average price of $80.30 and a 200-day moving average price of $76.34.

NextEra Energy Partners (NYSE:NEPGet Rating) last issued its quarterly earnings results on Friday, July 22nd. The solar energy provider reported $2.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.30 by $2.31. The company had revenue of $362.00 million for the quarter, compared to the consensus estimate of $345.09 million. NextEra Energy Partners had a net margin of 39.66% and a return on equity of 4.21%. The firm’s quarterly revenue was up 43.1% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.97) EPS. As a group, equities research analysts predict that NextEra Energy Partners, LP will post 4.52 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Thursday, August 4th were issued a $0.7625 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.73. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.60%. The ex-dividend date was Wednesday, August 3rd. NextEra Energy Partners’s payout ratio is 68.54%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. KeyCorp boosted their price target on shares of NextEra Energy Partners from $86.00 to $89.00 and gave the company an “overweight” rating in a research note on Thursday, August 11th. Credit Suisse Group boosted their price target on shares of NextEra Energy Partners from $74.00 to $79.00 and gave the company an “outperform” rating in a research note on Monday, July 25th. CIBC assumed coverage on shares of NextEra Energy Partners in a research note on Thursday, June 9th. They set a “neutral” rating and a $79.00 price target for the company. TheStreet upgraded shares of NextEra Energy Partners from a “c” rating to a “b-” rating in a research note on Thursday, June 30th. Finally, Bank of America boosted their price target on shares of NextEra Energy Partners from $60.00 to $70.00 and gave the company an “underperform” rating in a research note on Friday, August 19th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $84.38.

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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