NextEra Energy Partners, LP (NYSE:NEP) Shares Purchased by Allworth Financial LP

Allworth Financial LP boosted its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 197.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,718 shares of the solar energy provider’s stock after acquiring an additional 4,460 shares during the period. Allworth Financial LP’s holdings in NextEra Energy Partners were worth $204,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the business. ORG Partners LLC raised its stake in NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after purchasing an additional 670 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of NextEra Energy Partners by 60.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 454 shares during the period. Global Wealth Management Investment Advisory Inc. purchased a new position in shares of NextEra Energy Partners during the first quarter valued at approximately $36,000. Lazard Asset Management LLC boosted its position in NextEra Energy Partners by 69.6% during the first 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 last quarter. Finally, CI Investments Inc. grew its stake in NextEra Energy Partners by 1,418.2% in the 3rd quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock worth $55,000 after acquiring an additional 1,716 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $28.84 on Friday. The stock has a market capitalization of $2.69 billion, a price-to-earnings ratio of 13.54 and a beta of 1.00. NextEra Energy Partners, LP has a one year low of $20.17 and a one year high of $64.43. The company’s 50-day simple moving average is $28.46 and its 200-day simple moving average is $27.57. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The business had revenue of $232.00 million during the quarter, compared to analyst estimates of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. Equities 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 business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were paid a $0.88 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a yield of 12.21%. The ex-dividend date was Monday, February 5th. NextEra Energy Partners’s payout ratio is presently 165.26%.

Analyst Ratings Changes

Several equities analysts recently commented on NEP shares. Evercore ISI assumed coverage on NextEra Energy Partners in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 target price for the company. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Raymond James decreased their target price on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. JPMorgan Chase & Co. raised their price target on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. 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 stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus price target of $45.53.

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.