Central Pacific Bank Trust Division Makes New Investment in NextEra Energy Partners, LP (NYSE:NEP)

Central Pacific Bank Trust Division acquired a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) during the 1st quarter, according to its most recent 13F filing with the SEC. The firm acquired 1,200 shares of the solar energy provider’s stock, valued at approximately $36,000.

Other institutional investors also recently bought and sold shares of the company. CWM LLC increased its holdings in NextEra Energy Partners by 160.2% during the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after purchasing an additional 511 shares during the period. Richardson Financial Services Inc. purchased a new position in NextEra Energy Partners during the 4th quarter worth $27,000. Hexagon Capital Partners LLC increased its holdings in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the period. MV Capital Management Inc. purchased a new position in NextEra Energy Partners during the 4th quarter worth $30,000. Finally, Heritage Wealth Advisors purchased a new position in NextEra Energy Partners during the 4th quarter worth $33,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $27.45 on Friday. The stock has a 50-day simple moving average of $30.47 and a two-hundred day simple moving average of $29.29. The firm has a market capitalization of $2.57 billion, a P/E ratio of 9.00 and a beta of 1.03. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $59.90. 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 released its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. 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) EPS. On average, equities analysts forecast that NextEra Energy Partners, LP will post 1.89 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 13.01%. The ex-dividend date was Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is currently 117.05%.

Wall Street Analyst Weigh In

Several research firms have commented on NEP. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Mizuho downgraded NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Wednesday, June 12th. Oppenheimer reiterated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Finally, Barclays downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $32.00 to $25.00 in a report on Thursday, June 13th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $38.20.

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.