Cerity Partners LLC Purchases Shares of 10,138 NextEra Energy Partners, LP (NYSE:NEP)

Cerity Partners LLC acquired a new stake in NextEra Energy Partners, LP (NYSE:NEP) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 10,138 shares of the solar energy provider’s stock, valued at approximately $308,000.

A number of other institutional investors also recently modified their holdings of NEP. IFP Advisors Inc boosted its stake in shares of NextEra Energy Partners by 92.4% in the 3rd quarter. IFP Advisors Inc now owns 2,115 shares of the solar energy provider’s stock valued at $63,000 after purchasing an additional 1,016 shares during the last quarter. Commonwealth Equity Services LLC boosted its stake in NextEra Energy Partners by 22.7% during the third quarter. Commonwealth Equity Services LLC now owns 43,746 shares of the solar energy provider’s stock worth $1,299,000 after acquiring an additional 8,094 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its stake in NextEra Energy Partners by 4.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock worth $320,000 after acquiring an additional 496 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in NextEra Energy Partners during the third quarter worth $436,000. Finally, Raymond James & Associates boosted its stake in NextEra Energy Partners by 41.7% during the third quarter. Raymond James & Associates now owns 676,495 shares of the solar energy provider’s stock worth $20,092,000 after acquiring an additional 198,963 shares in the last quarter. 66.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

NEP has been the topic of several research analyst reports. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Oppenheimer reaffirmed a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday. CIBC lowered shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Tuesday, January 9th. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus price target of $41.60.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $28.93 on Friday. NextEra Energy Partners, LP has a 52-week low of $20.17 and a 52-week high of $63.89. The company has a 50-day simple moving average of $28.33 and a 200 day simple moving average of $27.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.36. The company has a market capitalization of $2.71 billion, a PE ratio of 9.49 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.12 by $0.63. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) earnings per share. On average, research analysts predict that NextEra Energy Partners, LP will post 1.33 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.8925 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 12.34%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 115.41%.

NextEra Energy Partners Company 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.