Eaton Vance Management increased its stake in shares of Nextera Energy Partners LP (NYSE:NEP) by 11.8% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 826,220 shares of the solar energy provider’s stock after acquiring an additional 87,484 shares during the period. Eaton Vance Management’s holdings in Nextera Energy Partners were worth $35,618,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement Association of Colorado purchased a new stake in Nextera Energy Partners during the fourth quarter worth about $105,000. Stratos Wealth Partners LTD. purchased a new stake in Nextera Energy Partners during the third quarter worth about $203,000. Stephens Inc. AR purchased a new stake in Nextera Energy Partners during the third quarter worth about $206,000. Cubist Systematic Strategies LLC purchased a new stake in Nextera Energy Partners during the third quarter worth about $260,000. Finally, BNP Paribas Arbitrage SA boosted its holdings in Nextera Energy Partners by 66.7% during the third quarter. BNP Paribas Arbitrage SA now owns 8,000 shares of the solar energy provider’s stock worth $322,000 after buying an additional 3,200 shares in the last quarter. 83.12% of the stock is currently owned by hedge funds and other institutional investors.
Nextera Energy Partners LP (NYSE:NEP) opened at $39.90 on Friday. The company has a current ratio of 1.44, a quick ratio of 3.20 and a debt-to-equity ratio of 2.54. The stock has a market cap of $2,160.00, a PE ratio of 60.45, a price-to-earnings-growth ratio of 1.74 and a beta of 1.16. Nextera Energy Partners LP has a 52-week low of $30.08 and a 52-week high of $45.38.
Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Friday, January 26th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.26 by ($0.07). The business had revenue of $197.00 million for the quarter, compared to analyst estimates of $251.41 million. Nextera Energy Partners had a positive return on equity of 1.80% and a negative net margin of 8.63%. During the same quarter in the previous year, the firm posted ($0.23) EPS. equities analysts expect that Nextera Energy Partners LP will post 1.97 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Monday, February 5th were given a dividend of $0.405 per share. The ex-dividend date was Friday, February 2nd. This represents a $1.62 dividend on an annualized basis and a yield of 4.06%. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.39. Nextera Energy Partners’s payout ratio is presently 245.45%.
A number of analysts recently commented on the stock. Credit Suisse Group assumed coverage on shares of Nextera Energy Partners in a report on Thursday, December 7th. They set an “outperform” rating and a $44.00 price objective on the stock. Guggenheim assumed coverage on shares of Nextera Energy Partners in a report on Tuesday, January 2nd. They set a “buy” rating and a $45.00 price objective on the stock. Zacks Investment Research downgraded shares of Nextera Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Finally, Morgan Stanley upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research report on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and nine have issued a buy rating to the company’s stock. Nextera Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $40.80.
Nextera Energy Partners Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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