Advisory Services Network LLC Grows Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Advisory Services Network LLC lifted its stake in NextEra Energy Partners, LP (NYSE:NEP) by 2,678.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,029 shares of the solar energy provider’s stock after purchasing an additional 2,920 shares during the period. Advisory Services Network LLC’s holdings in NextEra Energy Partners were worth $228,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Credit Suisse AG boosted its holdings in NextEra Energy Partners by 25.2% in the second quarter. Credit Suisse AG now owns 349,422 shares of the solar energy provider’s stock valued at $26,186,000 after purchasing an additional 70,433 shares during the period. Avantax Advisory Services Inc. increased its position in shares of NextEra Energy Partners by 39.6% during the third quarter. Avantax Advisory Services Inc. now owns 34,438 shares of the solar energy provider’s stock worth $2,604,000 after purchasing an additional 9,768 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new stake in shares of NextEra Energy Partners during the second quarter worth about $9,545,000. Raymond James & Associates increased its position in shares of NextEra Energy Partners by 28.4% during the third quarter. Raymond James & Associates now owns 394,353 shares of the solar energy provider’s stock worth $29,719,000 after purchasing an additional 87,162 shares in the last quarter. Finally, Stifel Financial Corp increased its position in shares of NextEra Energy Partners by 2.6% during the second quarter. Stifel Financial Corp now owns 77,374 shares of the solar energy provider’s stock worth $5,909,000 after purchasing an additional 1,983 shares in the last quarter. Hedge funds and other institutional investors own 80.79% of the company’s stock.

Shares of NEP opened at $76.25 on Friday. NextEra Energy Partners, LP has a twelve month low of $63.50 and a twelve month high of $88.80. The stock’s 50 day moving average is $83.98 and its two-hundred day moving average is $80.23. The firm has a market capitalization of $5.84 billion, a PE ratio of 27.43, a P/E/G ratio of 1.29 and a beta of 0.78. The company has a current ratio of 3.16, a quick ratio of 3.00 and a debt-to-equity ratio of 0.47.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Tuesday, October 19th. The solar energy provider reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.60 by ($0.36). The business had revenue of $252.00 million during the quarter, compared to analysts’ expectations of $335.56 million. NextEra Energy Partners had a net margin of 29.70% and a return on equity of 3.50%. NextEra Energy Partners’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.76 EPS. On average, sell-side analysts predict that NextEra Energy Partners, LP will post 2.59 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, November 12th. Investors of record on Thursday, November 4th were given a dividend of $0.685 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.66. This represents a $2.74 annualized dividend and a dividend yield of 3.59%. The ex-dividend date of this dividend was Wednesday, November 3rd. NextEra Energy Partners’s payout ratio is currently 98.56%.

NEP has been the topic of a number of research reports. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, January 4th. Zacks Investment Research raised NextEra Energy Partners from a “hold” rating to a “strong-buy” rating and set a $91.00 price target on the stock in a report on Thursday, January 6th. Morgan Stanley raised their price target on NextEra Energy Partners from $69.00 to $95.00 and gave the stock an “equal weight” rating in a report on Monday, November 22nd. Finally, KeyCorp initiated coverage on NextEra Energy Partners in a report on Monday, September 20th. They set an “overweight” rating on the stock. One analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners presently has a consensus rating of “Buy” and an average target price of $88.01.

NextEra Energy Partners Company Profile

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

Recommended Story: What is cost of equity?

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

Receive News & Ratings for NextEra Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.