Raymond James & Associates Has $13.53 Million Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Raymond James & Associates cut its position in NextEra Energy Partners, LP (NYSE:NEP) by 39.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 489,716 shares of the solar energy provider’s stock after selling 312,445 shares during the period. Raymond James & Associates’ holdings in NextEra Energy Partners were worth $13,526,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the stock. Brown Miller Wealth Management LLC lifted its position in shares of NextEra Energy Partners by 2.4% during the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after purchasing an additional 433 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of NextEra Energy Partners during the third quarter worth approximately $173,000. Strategic Wealth Partners Ltd. lifted its position in shares of NextEra Energy Partners by 25.4% during the third quarter. Strategic Wealth Partners Ltd. now owns 46,912 shares of the solar energy provider’s stock worth $1,296,000 after purchasing an additional 9,490 shares in the last quarter. Sanctuary Advisors LLC acquired a new position in shares of NextEra Energy Partners during the second quarter worth approximately $639,000. Finally, Cetera Investment Advisers lifted its position in shares of NextEra Energy Partners by 10.6% during the second quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock worth $1,948,000 after purchasing an additional 6,769 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Up 0.5 %

Shares of NYSE:NEP opened at $21.10 on Monday. NextEra Energy Partners, LP has a 52 week low of $20.28 and a 52 week high of $35.15. 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 company has a market capitalization of $1.97 billion, a PE ratio of 6.64 and a beta of 1.06. The company has a 50 day moving average price of $25.44 and a two-hundred day moving average price of $27.64.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same period in the previous year, the company posted $0.57 EPS. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. Analysts forecast that NextEra Energy Partners, LP will post 2.2 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.9175 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, November 6th. This represents a $3.67 annualized dividend and a dividend yield of 17.39%. NextEra Energy Partners’s dividend payout ratio is currently 113.84%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on NEP shares. Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Wolfe Research downgraded shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. BMO Capital Markets dropped their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Finally, CIBC dropped their price target on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.85.

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.