Prospera Financial Services Inc Buys 696 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Prospera Financial Services Inc raised its holdings in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 32.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,833 shares of the solar energy provider’s stock after buying an additional 696 shares during the period. Prospera Financial Services Inc’s holdings in NextEra Energy Partners were worth $205,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. ClearBridge Investments Ltd boosted its position in shares of 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 acquiring an additional 750,144 shares during the last quarter. M&G Investment Management Ltd. boosted its position in shares of NextEra Energy Partners by 41.3% during the second quarter. M&G Investment Management Ltd. now owns 1,306,181 shares of the solar energy provider’s stock worth $96,657,000 after acquiring an additional 382,039 shares during the last quarter. BlackRock Inc. boosted its position in shares of 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 acquiring an additional 356,265 shares during the last quarter. abrdn plc bought a new position in shares of NextEra Energy Partners during the second quarter worth $18,818,000. Finally, Eaton Vance Management boosted its position in shares of NextEra Energy Partners by 46.2% during the first quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider’s stock worth $60,939,000 after acquiring an additional 231,102 shares during the last quarter. 83.05% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities analysts recently weighed in on NEP shares. StockNews.com started coverage on shares of NextEra Energy Partners in a research report on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group lowered their price objective on shares of NextEra Energy Partners from $90.00 to $87.00 and set an “outperform” rating for the company in a research report on Wednesday, November 2nd. Raymond James upgraded shares of NextEra Energy Partners from an “underperform” rating to a “market perform” rating in a research report on Wednesday, January 4th. The Goldman Sachs Group lowered their price objective on shares of NextEra Energy Partners from $102.00 to $88.00 and set a “buy” rating for the company in a research report on Thursday, September 22nd. Finally, Wells Fargo & Company lowered their price objective on shares of NextEra Energy Partners from $93.00 to $90.00 and set an “overweight” rating for the company in a research report on Wednesday, October 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $84.89.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $76.05 on Friday. The firm has a 50-day moving average price of $75.53 and a 200-day moving average price of $77.11. The firm has a market capitalization of $6.58 billion, a PE ratio of 14.80, a price-to-earnings-growth ratio of 2.51 and a beta of 0.92. The company has a current ratio of 1.91, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. NextEra Energy Partners, LP has a 12-month low of $61.31 and a 12-month high of $86.06.

NextEra Energy Partners (NYSE:NEPGet Rating) last released its earnings results on Friday, October 28th. The solar energy provider reported $0.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.30. The firm had revenue of $302.00 million during the quarter, compared to analyst estimates of $394.15 million. NextEra Energy Partners had a net margin of 36.70% and a return on equity of 3.71%. As a group, equities research analysts forecast that NextEra Energy Partners, LP will post 5.76 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Investors of record on Friday, November 4th were paid a $0.788 dividend. This represents a $3.15 annualized dividend and a yield of 4.14%. The ex-dividend date of this dividend was Thursday, November 3rd. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.76. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 61.28%.

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

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

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