Hexagon Capital Partners LLC Acquires 627 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Hexagon Capital Partners LLC grew its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 208.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 928 shares of the solar energy provider’s stock after purchasing an additional 627 shares during the period. Hexagon Capital Partners LLC’s holdings in NextEra Energy Partners were worth $28,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of NEP. CWM LLC raised its position in shares of NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after purchasing an additional 511 shares during the period. Richardson Financial Services Inc. bought a new stake in NextEra Energy Partners during the 4th quarter worth approximately $27,000. MV Capital Management Inc. bought a new stake in NextEra Energy Partners during the 4th quarter worth approximately $30,000. Heritage Wealth Advisors bought a new stake in NextEra Energy Partners during the 4th quarter worth approximately $33,000. Finally, Newbridge Financial Services Group Inc. increased its holdings in NextEra Energy Partners by 46.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after acquiring an additional 532 shares during the period. Institutional investors own 66.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEP. Oppenheimer reaffirmed a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a report on Wednesday, June 12th. Raymond James decreased their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Finally, Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $38.20.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $25.30 on Wednesday. NextEra Energy Partners, LP has a 52-week low of $20.17 and a 52-week high of $59.90. The stock has a market capitalization of $2.37 billion, a price-to-earnings ratio of 8.30 and a beta of 1.04. The company has a fifty day moving average of $30.82 and a 200-day moving average of $29.45. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The company had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. During the same quarter in the prior year, the company earned ($0.17) EPS. The firm’s revenue was up 4.9% on a year-over-year basis. Equities research analysts expect that NextEra Energy Partners, LP will post 1.89 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were paid a $0.8925 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a dividend yield of 14.11%. NextEra Energy Partners’s dividend payout ratio is 117.05%.

NextEra Energy Partners 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.