B. Riley Wealth Advisors Inc. Acquires 3,064 Shares of NextEra Energy Partners, LP (NYSE:NEP)

B. Riley Wealth Advisors Inc. lifted its stake in NextEra Energy Partners, LP (NYSE:NEP) by 40.4% during the second quarter, HoldingsChannel.com reports. The firm owned 10,648 shares of the solar energy provider’s stock after purchasing an additional 3,064 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NextEra Energy Partners were worth $294,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new stake in NextEra Energy Partners during the 4th quarter valued at about $27,000. Hexagon Capital Partners LLC grew its holdings in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 627 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in shares of NextEra Energy Partners during the first quarter valued at approximately $36,000. FinTrust Capital Advisors LLC purchased a new position in NextEra Energy Partners in the 1st quarter worth approximately $45,000. Finally, Northwestern Mutual Wealth Management Co. lifted its position in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on NEP. Morgan Stanley lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. BMO Capital Markets lowered their target price on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Royal Bank of Canada downgraded shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their price objective for the company from $38.00 to $30.00 in a research report on Monday, July 1st. Finally, Jefferies Financial Group initiated coverage on shares of NextEra Energy Partners in a research report on Thursday, September 19th. They issued a “buy” rating and a $28.00 target price for the company. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $30.08.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $25.33 on Wednesday. The stock has a market cap of $2.37 billion, a P/E ratio of 8.30 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The stock’s fifty day moving average is $25.57 and its 200 day moving average is $28.07. NextEra Energy Partners, LP has a one year low of $20.17 and a one year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business’s revenue for the quarter was up 22.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.53 earnings per share. Sell-side analysts anticipate that NextEra Energy Partners, LP will post 2.2 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a $0.905 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a dividend yield of 14.29%. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

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.