BNP Paribas Financial Markets Buys 4,384 Shares of NextEra Energy Partners, LP (NYSE:NEP)

BNP Paribas Financial Markets grew its position in NextEra Energy Partners, LP (NYSE:NEP) by 20.7% during the 3rd quarter, Holdings Channel reports. The firm owned 25,543 shares of the solar energy provider’s stock after purchasing an additional 4,384 shares during the quarter. BNP Paribas Financial Markets’ holdings in NextEra Energy Partners were worth $705,000 at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of NextEra Energy Partners in the third quarter valued at about $991,000. MAI Capital Management raised its stake in shares of NextEra Energy Partners by 7.6% in the third quarter. MAI Capital Management now owns 35,177 shares of the solar energy provider’s stock worth $972,000 after acquiring an additional 2,491 shares during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of NextEra Energy Partners during the third quarter worth approximately $16,186,000. GSA Capital Partners LLP grew its stake in shares of NextEra Energy Partners by 266.8% during the third quarter. GSA Capital Partners LLP now owns 45,856 shares of the solar energy provider’s stock valued at $1,267,000 after purchasing an additional 33,353 shares during the last quarter. Finally, Entropy Technologies LP acquired a new stake in shares of NextEra Energy Partners in the third quarter valued at approximately $613,000. Institutional investors own 66.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. BNP Paribas began coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective for the company. UBS Group cut their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Barclays reaffirmed an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $37.00 to $22.00 in a research report on Monday, October 28th. Finally, Scotiabank dropped their price objective on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.00.

NextEra Energy Partners Price Performance

NEP stock opened at $17.63 on Friday. The firm has a 50 day moving average of $20.06 and a 200-day moving average of $24.73. The firm has a market capitalization of $1.65 billion, a P/E ratio of 8.08 and a beta of 1.07. NextEra Energy Partners, LP has a 12 month low of $15.55 and a 12 month high of $35.15. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. During the same period in the prior year, the firm earned $0.57 EPS. NextEra Energy Partners’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, sell-side analysts predict 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. Stockholders of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a dividend yield of 20.82%. The ex-dividend date was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend 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.