Kayne Anderson Capital Advisors LP Raises Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Kayne Anderson Capital Advisors LP lifted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 18.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,663,736 shares of the solar energy provider’s stock after buying an additional 261,523 shares during the quarter. NextEra Energy Partners accounts for 1.6% of Kayne Anderson Capital Advisors LP’s portfolio, making the stock its 19th biggest holding. Kayne Anderson Capital Advisors LP owned 1.78% of NextEra Energy Partners worth $50,594,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NEP. FMR LLC boosted its position in shares of NextEra Energy Partners by 18.9% during the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock worth $144,506,000 after purchasing an additional 774,665 shares in the last quarter. ClearBridge Investments Ltd boosted its holdings in NextEra Energy Partners by 64.4% during the third quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock worth $106,425,000 after buying an additional 1,404,318 shares in the last quarter. Electron Capital Partners LLC grew its position in NextEra Energy Partners by 7.9% during the third quarter. Electron Capital Partners LLC now owns 1,493,087 shares of the solar energy provider’s stock worth $44,345,000 after buying an additional 108,799 shares during the period. Bank of New York Mellon Corp increased its holdings in NextEra Energy Partners by 31.0% in the third quarter. Bank of New York Mellon Corp now owns 1,044,197 shares of the solar energy provider’s stock valued at $31,013,000 after buying an additional 246,908 shares in the last quarter. Finally, HighTower Advisors LLC lifted its position in shares of NextEra Energy Partners by 14.1% during the 3rd quarter. HighTower Advisors LLC now owns 839,956 shares of the solar energy provider’s stock valued at $24,911,000 after acquiring an additional 104,055 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 1.8 %

NEP traded up $0.54 during trading on Thursday, hitting $30.67. The company’s stock had a trading volume of 224,371 shares, compared to its average volume of 1,395,013. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $63.89. The stock has a market cap of $2.87 billion, a PE ratio of 9.88 and a beta of 1.01. The firm’s 50 day moving average price is $28.68 and its 200-day moving average price is $27.88. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.31.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. During the same period in the prior year, the business posted ($0.17) earnings per share. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, analysts expect that NextEra Energy Partners, LP will post 1.54 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 annualized dividend and a dividend yield of 11.64%. NextEra Energy Partners’s payout ratio is currently 117.05%.

Analyst Ratings Changes

A number of research firms recently weighed in on NEP. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Barclays began coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price target for the company. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Finally, Raymond James cut their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus target price of $41.60.

NextEra Energy Partners Company 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.