Northwestern Mutual Wealth Management Co. raised its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP – Free Report) by 150.4% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665 shares of the solar energy provider’s stock after acquiring an additional 1,000 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in NextEra Energy Partners were worth $46,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. M&G Plc purchased a new position in shares of NextEra Energy Partners during the 1st quarter worth approximately $83,069,000. Commerce Bank purchased a new position in NextEra Energy Partners during the first quarter worth $15,597,000. Swedbank AB acquired a new position in shares of NextEra Energy Partners in the first quarter worth $9,927,000. ClearBridge Investments Ltd lifted its position in shares of NextEra Energy Partners by 6.4% in the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after acquiring an additional 250,456 shares in the last quarter. Finally, Fred Alger Management LLC acquired a new stake in shares of NextEra Energy Partners during the second quarter valued at $5,452,000. Institutional investors and hedge funds own 66.01% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research analysts have issued reports on the stock. BNP Paribas began coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 target price on the stock. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Jefferies Financial Group initiated coverage on NextEra Energy Partners in a research note on Thursday, September 19th. They set a “buy” rating and a $28.00 price target on the stock. UBS Group lowered their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Finally, Mizuho dropped their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday. Five research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and an average price target of $29.54.
NextEra Energy Partners Trading Up 1.8 %
NYSE NEP opened at $25.24 on Friday. The company’s 50 day moving average price is $25.52 and its 200 day moving average price is $28.01. NextEra Energy Partners, LP has a one year low of $21.11 and a one year high of $35.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The firm has a market capitalization of $2.36 billion, a price-to-earnings ratio of 8.28 and a beta of 1.06.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The company had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. During the same quarter last year, the firm posted $0.53 earnings per share. The business’s quarterly revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts predict that NextEra Energy Partners, LP will post 2.2 EPS for the current year.
NextEra Energy Partners Increases Dividend
The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a $0.905 dividend. This represents a $3.62 dividend on an annualized basis and a dividend yield of 14.34%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.
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.
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