CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT Takes $21.45 Million Position in NextEra Energy Partners, LP (NYSE:NEP)

CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 1,205,000 shares of the solar energy provider's stock, valued at approximately $21,449,000. NextEra Energy Partners accounts for approximately 1.4% of CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT's portfolio, making the stock its 20th biggest holding. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT owned approximately 1.29% of NextEra Energy Partners at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brown Miller Wealth Management LLC increased its stake in shares of NextEra Energy Partners by 2.4% in 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. Pathway Financial Advisers LLC boosted its holdings in NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider's stock worth $1,336,000 after buying an additional 454 shares during the period. Apollon Wealth Management LLC grew its stake in NextEra Energy Partners by 5.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider's stock valued at $340,000 after buying an additional 667 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings 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 valued at $46,000 after acquiring an additional 1,000 shares during the period. Finally, Creative Planning lifted its position in shares of NextEra Energy Partners by 15.2% during the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider's stock worth $313,000 after acquiring an additional 1,490 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

NEP has been the subject of several recent research reports. Evercore ISI reduced their price target on NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research report on Thursday, October 24th. BMO Capital Markets reiterated a "market perform" rating and set a $18.00 price target (down from $26.00) on shares of NextEra Energy Partners in a research report on Monday, January 13th. Mizuho cut their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. CIBC reduced 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. Finally, Barclays reiterated an "underweight" rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and an average target price of $24.50.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock traded down $1.11 during trading on Friday, hitting $15.74. 3,963,760 shares of the stock traded hands, compared to its average volume of 1,439,623. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 7.22 and a beta of 1.06. 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, LP has a 52 week low of $15.55 and a 52 week high of $35.15. The firm's fifty day moving average is $17.51 and its 200-day moving average is $22.09.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued 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). The business had revenue of $319.00 million for the quarter, compared to the consensus estimate 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 quarter in the previous year, the business earned $0.57 earnings per share. Research analysts expect that NextEra Energy Partners, LP will post 2.06 EPS for the current fiscal year.

NextEra Energy Partners 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.