UBS Group AG Purchases 38,363 Shares of NextEra Energy Partners, LP (NYSE:NEP)

UBS Group AG raised its position in NextEra Energy Partners, LP (NYSE:NEPFree Report) by 12.9% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 335,908 shares of the solar energy provider’s stock after purchasing an additional 38,363 shares during the period. UBS Group AG owned approximately 0.36% of NextEra Energy Partners worth $10,215,000 as of its most recent filing with the SEC.

Several other hedge funds also recently bought and sold shares of the company. Private Advisor Group LLC increased its position in shares of NextEra Energy Partners by 174.0% in the 3rd quarter. Private Advisor Group LLC now owns 14,706 shares of the solar energy provider’s stock valued at $437,000 after buying an additional 9,339 shares in the last quarter. Arizona State Retirement System raised its position in shares of NextEra Energy Partners by 4.1% during the third quarter. Arizona State Retirement System now owns 25,313 shares of the solar energy provider’s stock worth $752,000 after purchasing an additional 997 shares during the period. Bryn Mawr Capital Management LLC bought a new position in shares of NextEra Energy Partners during the 3rd quarter valued at about $202,000. New York Life Investment Management LLC grew its position in shares of NextEra Energy Partners by 118.8% in the 3rd quarter. New York Life Investment Management LLC now owns 9,343 shares of the solar energy provider’s stock valued at $277,000 after purchasing an additional 5,072 shares during the period. Finally, Swiss National Bank increased its stake in NextEra Energy Partners by 3.7% during the 3rd quarter. Swiss National Bank now owns 195,400 shares of the solar energy provider’s stock worth $5,803,000 after purchasing an additional 6,900 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have recently weighed in on NEP shares. Raymond James reduced their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Evercore ISI started coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 target price for the company. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Oppenheimer reiterated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Finally, JPMorgan Chase & Co. restated an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $39.29.

View Our Latest Report on NEP

NextEra Energy Partners Stock Down 0.1 %

Shares of NEP stock opened at $33.71 on Monday. NextEra Energy Partners, LP has a 52-week low of $20.17 and a 52-week high of $63.89. The stock has a market cap of $3.15 billion, a price-to-earnings ratio of 11.05 and a beta of 1.07. The firm’s 50-day moving average is $30.39 and its 200-day moving average is $28.74. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36.

NextEra Energy Partners (NYSE:NEPGet Free Report) last announced its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. During the same quarter in the previous year, the business earned ($0.17) earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. Sell-side analysts predict that NextEra Energy Partners, LP will post 1.89 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 10.59%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend was Monday, May 6th. NextEra Energy Partners’s payout ratio is 117.05%.

About NextEra Energy Partners

(Free Report)

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.

See Also

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

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