Alps Advisors Inc. lowered its stake in Nextera Energy Partners LP (NYSE:NEP) by 0.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 83,660 shares of the solar energy provider’s stock after selling 695 shares during the period. Alps Advisors Inc. owned 0.14% of Nextera Energy Partners worth $4,421,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Manchester Financial Inc. purchased a new position in shares of Nextera Energy Partners in the second quarter worth $27,000. CWM LLC purchased a new position in shares of Nextera Energy Partners in the third quarter worth $53,000. AGF Investments LLC purchased a new position in shares of Nextera Energy Partners in the second quarter worth $49,000. Cubist Systematic Strategies LLC purchased a new position in shares of Nextera Energy Partners in the second quarter worth $57,000. Finally, Steward Partners Investment Advisory LLC purchased a new position in shares of Nextera Energy Partners in the second quarter worth $57,000. 74.73% of the stock is owned by institutional investors and hedge funds.
NEP has been the subject of a number of research analyst reports. ValuEngine raised shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a report on Friday, November 1st. Zacks Investment Research raised shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price target for the company in a report on Thursday, October 3rd. Credit Suisse Group raised their price target on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. Wells Fargo & Co raised their price target on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a report on Tuesday, October 1st. Finally, Barclays raised shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $61.00 in a report on Tuesday, October 8th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $54.00.
In other Nextera Energy Partners news, Director Peter H. Kind acquired 1,000 shares of the business’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average price of $51.78 per share, for a total transaction of $51,780.00. Following the completion of the purchase, the director now directly owns 19,590 shares of the company’s stock, valued at $1,014,370.20. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 0.61% of the stock is owned by corporate insiders.
NYSE:NEP opened at $50.95 on Friday. The firm has a market capitalization of $3.13 billion, a P/E ratio of 17.51 and a beta of 0.90. Nextera Energy Partners LP has a 1-year low of $39.35 and a 1-year high of $53.90. The company’s fifty day moving average price is $51.68 and its 200-day moving average price is $49.07. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.60 and a quick ratio of 1.60.
Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings data on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.40 by ($1.61). The business had revenue of $253.00 million during the quarter, compared to analyst estimates of $354.51 million. Nextera Energy Partners had a negative return on equity of 2.49% and a negative net margin of 16.67%. During the same quarter in the previous year, the company earned $0.58 EPS. Equities analysts anticipate that Nextera Energy Partners LP will post -1.43 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be paid a $0.517 dividend. The ex-dividend date is Tuesday, November 5th. This represents a $2.07 dividend on an annualized basis and a dividend yield of 4.06%. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.50. Nextera Energy Partners’s dividend payout ratio is presently 71.13%.
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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