NextEra Energy Partners, LP (NYSE:NEP) Shares Acquired by Integrated Wealth Concepts LLC

Integrated Wealth Concepts LLC grew its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 16.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,945 shares of the solar energy provider’s stock after acquiring an additional 2,084 shares during the period. Integrated Wealth Concepts LLC’s holdings in NextEra Energy Partners were worth $413,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameritas Advisory Services LLC grew its position in NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after purchasing an additional 412 shares during the period. Brown Miller Wealth Management LLC grew its holdings in 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 acquiring an additional 433 shares during the period. Pathway Financial Advisers LLC raised its position in NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock valued at $1,336,000 after acquiring an additional 454 shares in the last quarter. Arizona State Retirement System lifted its holdings in NextEra Energy Partners by 2.0% in the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after acquiring an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its position in NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Mizuho cut their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Monday, December 2nd. Evercore ISI lowered their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. UBS Group cut their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Finally, Jefferies Financial Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $26.85.

NextEra Energy Partners Trading Down 1.2 %

Shares of NEP opened at $17.91 on Thursday. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15. The stock has a market cap of $1.67 billion, a PE ratio of 8.21 and a beta of 1.07. The firm’s fifty day moving average is $20.23 and its two-hundred day moving average is $24.78. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.57 earnings per share. Research analysts forecast that NextEra Energy Partners, LP will post 1.41 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a yield of 20.50%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is 168.35%.

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.