Zurcher Kantonalbank Zurich Cantonalbank Has $1.21 Million Stake in NextEra Energy Partners, LP (NYSE:NEP)

Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 62.9% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 39,718 shares of the solar energy provider’s stock after buying an additional 15,336 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in NextEra Energy Partners were worth $1,208,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. MV Capital Management Inc. acquired a new position in NextEra Energy Partners during the fourth quarter worth $30,000. ORG Partners LLC increased its position in NextEra Energy Partners by 120.3% during the third quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock worth $36,000 after buying an additional 670 shares during the last quarter. Parkside Financial Bank & Trust boosted its holdings in 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 acquiring an additional 454 shares during the period. CI Investments Inc. boosted its holdings in NextEra Energy Partners by 1,418.2% during the third quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock valued at $55,000 after acquiring an additional 1,716 shares during the period. Finally, Migdal Insurance & Financial Holdings Ltd. boosted its holdings in NextEra Energy Partners by 70.9% during the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,030 shares of the solar energy provider’s stock valued at $62,000 after acquiring an additional 842 shares during the period. 66.01% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $28.93 on Friday. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 9.49 and a beta of 1.00. The company has a 50 day moving average of $28.32 and a 200-day moving average of $27.37. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $63.89.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data 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. The company had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The company’s revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the business posted ($0.17) earnings per share. On average, equities analysts forecast that NextEra Energy Partners, LP will post 0.86 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be issued a dividend of $0.8925 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date of this dividend is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 12.34%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 115.41%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEP. JPMorgan Chase & Co. increased their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Evercore ISI began coverage on shares of 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. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 9th. Finally, Barclays started coverage on shares of 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. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $43.88.

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.