Executive Wealth Management LLC increased its position in NextEra Energy Partners, LP (NYSE:NEP) by 16.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,700 shares of the solar energy provider’s stock after purchasing an additional 10,842 shares during the quarter. Executive Wealth Management LLC owned 0.12% of NextEra Energy Partners worth $4,598,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. First Trust Advisors LP boosted its stake in NextEra Energy Partners by 4.0% during the 1st quarter. First Trust Advisors LP now owns 54,619 shares of the solar energy provider’s stock valued at $2,547,000 after acquiring an additional 2,079 shares during the last quarter. Wells Fargo & Company MN boosted its stake in NextEra Energy Partners by 9.6% during the 1st quarter. Wells Fargo & Company MN now owns 186,843 shares of the solar energy provider’s stock valued at $8,034,000 after acquiring an additional 16,349 shares during the last quarter. APG Asset Management N.V. bought a new position in NextEra Energy Partners during the 1st quarter valued at $894,000. Tower Research Capital LLC TRC bought a new position in NextEra Energy Partners during the 1st quarter valued at $195,000. Finally, Jane Street Group LLC bought a new position in NextEra Energy Partners during the 1st quarter valued at $808,000. Institutional investors and hedge funds own 82.65% of the company’s stock.
A number of research analysts have commented on the stock. Raymond James increased their price objective on shares of NextEra Energy Partners from $64.00 to $73.00 and gave the company an “outperform” rating in a research note on Thursday, October 8th. Zacks Investment Research cut shares of NextEra Energy Partners from a “buy” rating to a “hold” rating and set a $69.00 target price on the stock. in a report on Thursday, October 15th. Goldman Sachs Group raised shares of NextEra Energy Partners from a “neutral” rating to a “buy” rating and increased their target price for the stock from $63.00 to $65.00 in a report on Tuesday, June 30th. TheStreet raised shares of NextEra Energy Partners from a “c+” rating to a “b” rating in a report on Friday, July 24th. Finally, Wells Fargo & Company raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $68.00 to $73.00 in a report on Tuesday, September 15th. Four equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. NextEra Energy Partners has a consensus rating of “Buy” and a consensus price target of $64.75.
NextEra Energy Partners stock traded up $0.04 during trading hours on Monday, hitting $65.12. 2,908 shares of the company traded hands, compared to its average volume of 575,943. The firm has a market cap of $4.26 billion, a P/E ratio of -19.08 and a beta of 0.97. The company has a quick ratio of 1.38, a current ratio of 1.46 and a debt-to-equity ratio of 0.69. The firm’s 50-day simple moving average is $60.48 and its two-hundred day simple moving average is $55.15. NextEra Energy Partners, LP has a 1-year low of $29.01 and a 1-year high of $68.39.
NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 21st. The solar energy provider reported $0.76 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.62 by $0.14. NextEra Energy Partners had a negative net margin of 14.18% and a negative return on equity of 2.11%. During the same quarter in the previous year, the business posted $2.39 EPS. On average, equities research analysts predict that NextEra Energy Partners, LP will post -1.35 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, November 13th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.595 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.58. The ex-dividend date of this dividend is Wednesday, November 4th. This represents a $2.38 annualized dividend and a yield of 3.65%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently -152.98%.
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 and solar projects, as well as contracted natural gas pipeline assets. The company was founded in 2014 and is headquartered in Juno Beach, Florida.
See Also: Can systematic risk be avoided?
Receive News & Ratings for NextEra Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.