NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Stephens Inc. AR

Stephens Inc. AR trimmed its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,895 shares of the solar energy provider’s stock after selling 2,379 shares during the quarter. Stephens Inc. AR’s holdings in NextEra Energy Partners were worth $301,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners during the 1st quarter worth $36,000. Northwestern Mutual Wealth Management Co. grew its stake in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Larson Financial Group LLC acquired a new position in NextEra Energy Partners during the 1st quarter worth $48,000. EverSource Wealth Advisors LLC acquired a new position in NextEra Energy Partners during the 2nd quarter worth $51,000. Finally, Eastern Bank acquired a new position in NextEra Energy Partners during the 3rd quarter worth $57,000. 66.01% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Down 1.2 %

NextEra Energy Partners stock opened at $18.30 on Friday. NextEra Energy Partners, LP has a fifty-two week low of $17.94 and a fifty-two week high of $35.15. 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 company has a market capitalization of $1.71 billion, a P/E ratio of 8.39 and a beta of 1.10. The stock has a 50-day simple moving average of $24.37 and a 200-day simple moving average of $27.14.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data 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). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same period in the prior year, the company earned $0.57 earnings per share. Equities research analysts expect that NextEra Energy Partners, LP will post 1.45 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. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 20.06%. NextEra Energy Partners’s dividend payout ratio is currently 166.06%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NEP. Jefferies Financial Group decreased their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 24th. BMO Capital Markets decreased their price target on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 21st. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and decreased their price target for the stock from $25.00 to $22.00 in a report on Thursday, October 24th. Barclays reaffirmed an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. Finally, Guggenheim downgraded NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $37.00 to $22.00 in a report on Monday, October 28th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target 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.