Ameritas Advisory Services LLC Cuts Stake in NextEra Energy Partners, LP (NYSE:NEP)

Ameritas Advisory Services LLC cut its position in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 61.8% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 12,731 shares of the solar energy provider's stock after selling 20,614 shares during the period. Ameritas Advisory Services LLC's holdings in NextEra Energy Partners were worth $227,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in NEP. Northwestern Mutual Wealth Management Co. boosted its stake in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock valued at $46,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners in the 2nd quarter valued at about $51,000. Eastern Bank bought a new position in NextEra Energy Partners in the 3rd quarter worth about $57,000. McIlrath & Eck LLC purchased a new position in shares of NextEra Energy Partners during the third quarter worth approximately $63,000. Finally, Central Pacific Bank Trust Division raised its stake in shares of NextEra Energy Partners by 153.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider's stock valued at $110,000 after acquiring an additional 3,750 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on NEP. Morgan Stanley raised NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 target price for the company in a research report on Monday, December 2nd. CIBC lowered their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a "neutral" rating for the company in a research note on Wednesday, January 8th. JPMorgan Chase & Co. cut their target price on shares of NextEra Energy Partners from $22.00 to $20.00 and set a "neutral" rating on the stock in a research report on Thursday. Jefferies Financial Group lowered their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Finally, BMO Capital Markets reissued a "market perform" rating and set a $18.00 price objective (down from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, NextEra Energy Partners presently has an average rating of "Hold" and a consensus price target of $24.50.

NextEra Energy Partners Stock Performance

NEP stock traded down $1.11 during midday trading on Friday, reaching $15.74. The stock had a trading volume of 3,963,760 shares, compared to its average volume of 1,439,623. 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 firm has a fifty day simple moving average of $17.51 and a two-hundred day simple moving average of $22.06. The stock has a market cap of $1.47 billion, a PE ratio of 7.22 and a beta of 1.06. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its 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 net margin of 17.47% and a negative return on equity of 1.07%. The firm had revenue of $319.00 million during the quarter, compared to analysts' expectations of $332.25 million. During the same quarter in the prior year, the company earned $0.57 EPS. NextEra Energy Partners's quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities research analysts anticipate that NextEra Energy Partners, LP will post 2.06 EPS for the current year.

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.