NextEra Energy Partners, LP (NYSE:NEP) Holdings Cut by SG Americas Securities LLC

SG Americas Securities LLC cut its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 29.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,467 shares of the solar energy provider’s stock after selling 4,357 shares during the quarter. SG Americas Securities LLC’s holdings in NextEra Energy Partners were worth $318,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Beacon Pointe Advisors LLC grew its stake in NextEra Energy Partners by 2.9% during the 1st quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock worth $594,000 after buying an additional 200 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of NextEra Energy Partners by 40.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider’s stock worth $44,000 after acquiring an additional 216 shares during the period. Lazard Asset Management LLC increased its holdings in shares of NextEra Energy Partners by 69.6% in the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock worth $45,000 after acquiring an additional 224 shares during the period. State of Wyoming boosted its stake in NextEra Energy Partners by 28.2% during the 2nd quarter. State of Wyoming now owns 1,137 shares of the solar energy provider’s stock valued at $67,000 after purchasing an additional 250 shares during the period. Finally, Vident Investment Advisory LLC grew its position in NextEra Energy Partners by 6.7% in the 4th quarter. Vident Investment Advisory LLC now owns 4,547 shares of the solar energy provider’s stock worth $319,000 after purchasing an additional 285 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Up 0.3 %

Shares of NextEra Energy Partners stock opened at $29.34 on Tuesday. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $64.43. The firm has a market capitalization of $2.74 billion, a PE ratio of 13.77 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. The stock’s fifty day moving average is $28.53 and its 200-day moving average is $27.69.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share (EPS) 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 company had revenue of $232.00 million for the quarter, compared to analyst estimates of $360.03 million. Equities analysts anticipate that NextEra Energy Partners, LP will post 0.9 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were given a $0.88 dividend. This represents a $3.52 annualized dividend and a dividend yield of 12.00%. The ex-dividend date was Monday, February 5th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is 165.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. JPMorgan Chase & Co. increased their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Raymond James dropped their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. CIBC lowered shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Tuesday, January 9th. Finally, Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.38.

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.