NextEra Energy Partners, LP (NYSE:NEP) Shares Bought by Foundations Investment Advisors LLC

Foundations Investment Advisors LLC boosted its stake in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 4.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,482 shares of the solar energy provider’s stock after buying an additional 272 shares during the quarter. Foundations Investment Advisors LLC’s holdings in NextEra Energy Partners were worth $488,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. BlackRock Inc. grew its position in NextEra Energy Partners by 4.9% during the first quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock worth $634,357,000 after buying an additional 356,265 shares during the period. 1832 Asset Management L.P. grew its position in NextEra Energy Partners by 2.2% during the fourth quarter. 1832 Asset Management L.P. now owns 1,797,802 shares of the solar energy provider’s stock worth $151,317,000 after buying an additional 39,408 shares during the period. Eventide Asset Management LLC grew its position 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 buying an additional 132,600 shares during the period. ClearBridge Investments Ltd grew its position in NextEra Energy Partners by 94.8% during the first quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock worth $128,470,000 after buying an additional 750,144 shares during the period. Finally, Royal Bank of Canada grew its position in NextEra Energy Partners by 11.3% during the first quarter. Royal Bank of Canada now owns 1,414,631 shares of the solar energy provider’s stock worth $117,923,000 after buying an additional 143,130 shares during the period. 83.22% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Down 0.1 %

Shares of NYSE NEP opened at $82.30 on Friday. NextEra Energy Partners, LP has a 1 year low of $61.31 and a 1 year high of $88.80. The firm’s 50 day moving average price is $81.07 and its 200 day moving average price is $76.61. The firm has a market cap of $6.90 billion, a P/E ratio of 18.49, a price-to-earnings-growth ratio of 1.82 and a beta of 0.86. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.34.

NextEra Energy Partners (NYSE:NEPGet Rating) last posted 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%. NextEra Energy Partners’s revenue was up 43.1% on a year-over-year basis. During the same quarter last year, the firm posted ($0.97) earnings per share. As a group, sell-side analysts anticipate that NextEra Energy Partners, LP will post 4.52 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were paid a dividend of $0.7625 per share. The ex-dividend date of this dividend was Wednesday, August 3rd. This represents a $3.05 dividend on an annualized basis and a yield of 3.71%. 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 68.54%.

Analyst Upgrades and Downgrades

NEP has been the topic of several research reports. UBS Group set a $90.00 price target on shares of NextEra Energy Partners in a research report on Monday, June 20th. TheStreet upgraded shares of NextEra Energy Partners from a “c” rating to a “b-” rating in a research report on Thursday, June 30th. Morgan Stanley lowered their price target on shares of NextEra Energy Partners from $93.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Monday, June 13th. CIBC initiated coverage on shares of NextEra Energy Partners in a research report on Thursday, June 9th. They issued a “neutral” rating and a $79.00 price target on the stock. Finally, Credit Suisse Group increased their price target on shares of NextEra Energy Partners from $79.00 to $90.00 and gave the company an “outperform” rating in a research report on Tuesday, September 13th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and a consensus price target of $85.75.

NextEra Energy Partners Company Profile

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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.

Further Reading

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

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