Arizona State Retirement System Increases Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Arizona State Retirement System lifted its stake in NextEra Energy Partners, LP (NYSE:NEP) by 3.2% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 26,119 shares of the solar energy provider’s stock after purchasing an additional 806 shares during the quarter. Arizona State Retirement System’s holdings in NextEra Energy Partners were worth $794,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. JPMorgan Chase & Co. lifted its stake in shares of NextEra Energy Partners by 2.8% during the 1st quarter. JPMorgan Chase & Co. now owns 29,854 shares of the solar energy provider’s stock worth $2,488,000 after acquiring an additional 800 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its stake in shares of NextEra Energy Partners by 43.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock worth $790,000 after acquiring an additional 2,858 shares during the last quarter. Private Advisor Group LLC lifted its stake in shares of NextEra Energy Partners by 123.8% during the 1st quarter. Private Advisor Group LLC now owns 5,466 shares of the solar energy provider’s stock worth $456,000 after acquiring an additional 3,024 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in shares of NextEra Energy Partners by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the solar energy provider’s stock worth $406,000 after acquiring an additional 390 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of NextEra Energy Partners by 0.6% during the 1st quarter. Bank of Montreal Can now owns 65,199 shares of the solar energy provider’s stock worth $5,488,000 after acquiring an additional 402 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 1.4 %

NEP opened at $27.37 on Thursday. The firm has a market cap of $2.56 billion, a price-to-earnings ratio of 12.85 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a 12 month low of $20.17 and a 12 month high of $64.43. The stock has a fifty day moving average price of $28.35 and a 200-day moving average price of $27.18.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.38). NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The business had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $360.03 million. As a group, equities research analysts anticipate that NextEra Energy Partners, LP will post 0.9 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 12.86%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, February 5th. NextEra Energy Partners’s payout ratio is 165.26%.

Analysts Set New Price Targets

NEP has been the subject of a number of research analyst reports. JPMorgan Chase & Co. raised their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Barclays began coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 target price for the company. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Tuesday, January 9th. Finally, Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $45.53.

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.