NextEra Energy Partners, LP (NYSE:NEP) Holdings Boosted by Rockefeller Capital Management L.P.

Rockefeller Capital Management L.P. boosted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 8.0% during the third quarter, HoldingsChannel.com reports. The fund owned 630,588 shares of the solar energy provider’s stock after acquiring an additional 46,728 shares during the period. Rockefeller Capital Management L.P.’s holdings in NextEra Energy Partners were worth $17,417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. raised its holdings in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners during the second quarter valued at approximately $51,000. Eastern Bank bought a new stake in shares of NextEra Energy Partners during the third quarter valued at approximately $57,000. Central Bank & Trust Co. bought a new stake in shares of NextEra Energy Partners during the second quarter valued at approximately $99,000. Finally, International Assets Investment Management LLC bought a new stake in shares of NextEra Energy Partners during the second quarter valued at approximately $104,000. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock opened at $17.47 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The firm has a market cap of $1.63 billion, a price-to-earnings ratio of 8.01 and a beta of 1.10. NextEra Energy Partners, LP has a 1 year low of $15.55 and a 1 year high of $35.15. The firm’s 50 day moving average price is $21.67 and its two-hundred day moving average price is $25.59.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. On average, research analysts predict that NextEra Energy Partners, LP will post 1.36 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a yield of 21.01%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s payout ratio is presently 168.35%.

Wall Street Analyst Weigh In

NEP has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $22.00 in a report on Thursday, October 24th. UBS Group cut their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Barclays reissued an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Mizuho dropped their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Jefferies Financial Group dropped their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and an average target price of $26.69.

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.