2,080 Shares in NextEra Energy Partners, LP (NYSE:NEP) Acquired by Eastern Bank

Eastern Bank bought a new position in NextEra Energy Partners, LP (NYSE:NEP) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 2,080 shares of the solar energy provider’s stock, valued at approximately $57,000.

A number of other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC lifted its position in NextEra Energy Partners by 1.4% in the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after buying an additional 412 shares during the last quarter. Brown Miller Wealth Management LLC lifted its position in NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after buying an additional 433 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after buying an additional 454 shares during the last quarter. Arizona State Retirement System lifted its position in NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after buying an additional 509 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its position in NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after buying an additional 581 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NEP. BNP Paribas assumed coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 target price for the company. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and lowered their price objective for the company from $25.00 to $22.00 in a research report on Thursday. 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. BMO Capital Markets lowered their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, Morgan Stanley downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company. According to data from MarketBeat, NextEra Energy Partners presently has an average rating of “Hold” and a consensus target price of $27.85.

NextEra Energy Partners Price Performance

NEP opened at $21.10 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. NextEra Energy Partners, LP has a 52-week low of $20.28 and a 52-week high of $35.15. The stock has a market capitalization of $1.97 billion, a PE ratio of 6.64 and a beta of 1.06. The stock’s 50 day moving average price is $25.44 and its 200-day moving average price is $27.67.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. NextEra Energy Partners’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the company earned $0.57 earnings per share. On average, equities research analysts predict that NextEra Energy Partners, LP will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a yield of 17.39%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is presently 113.84%.

About NextEra Energy Partners

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.