International Assets Investment Management LLC Acquires 134,057 Shares of NextEra Energy Partners, LP (NYSE:NEP)

International Assets Investment Management LLC boosted its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 4,016.1% during the 4th quarter, HoldingsChannel.com reports. The fund owned 137,395 shares of the solar energy provider’s stock after purchasing an additional 134,057 shares during the period. International Assets Investment Management LLC’s holdings in NextEra Energy Partners were worth $4,518,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Beacon Pointe Advisors LLC lifted its holdings in shares of NextEra Energy Partners by 2.9% in the first quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock valued at $594,000 after purchasing an additional 200 shares in the last quarter. Parkside Financial Bank & Trust lifted its holdings in shares of NextEra Energy Partners by 40.1% in the second quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider’s stock valued at $44,000 after purchasing an additional 216 shares in the last quarter. Lazard Asset Management LLC lifted its holdings in shares of NextEra Energy Partners by 69.6% in the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after purchasing an additional 224 shares in the last quarter. State of Wyoming lifted its holdings in shares of NextEra Energy Partners by 28.2% in the second quarter. State of Wyoming now owns 1,137 shares of the solar energy provider’s stock valued at $67,000 after purchasing an additional 250 shares in the last quarter. Finally, Vident Investment Advisory LLC increased its position in shares of NextEra Energy Partners by 6.7% in the fourth quarter. Vident Investment Advisory LLC now owns 4,547 shares of the solar energy provider’s stock valued at $319,000 after acquiring an additional 285 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors.

NextEra Energy Partners Trading Down 0.3 %

Shares of NEP stock opened at $27.00 on Wednesday. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The stock has a market cap of $2.52 billion, a P/E ratio of 12.68 and a beta of 1.00. The stock has a 50 day simple moving average of $28.36 and a 200 day simple moving average of $27.18. NextEra Energy Partners, LP has a 1 year low of $20.17 and a 1 year high of $64.43.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.38). The company had revenue of $232.00 million during the quarter, compared to the consensus estimate of $360.03 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. On average, research analysts predict that NextEra Energy Partners, LP will post 0.9 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a $0.88 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 annualized dividend and a dividend yield of 13.04%. The ex-dividend date was Monday, February 5th. NextEra Energy Partners’s payout ratio is 165.26%.

Analysts Set New Price Targets

NEP has been the topic of a number of recent research reports. Evercore ISI initiated coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 target price on the stock. Barclays started coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price on the stock. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. JPMorgan Chase & Co. boosted their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Finally, CIBC downgraded NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $45.53.

NextEra Energy Partners Profile

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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.