NextEra Energy Partners, LP (NYSE:NEP) Shares Purchased by EP Wealth Advisors LLC

EP Wealth Advisors LLC increased its stake in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 9.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 358,490 shares of the solar energy provider's stock after buying an additional 30,095 shares during the quarter. EP Wealth Advisors LLC owned about 0.38% of NextEra Energy Partners worth $9,902,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. M&G PLC grew its position in NextEra Energy Partners by 19.3% in the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock valued at $85,738,000 after acquiring an additional 496,383 shares in the last quarter. Redwood Grove Capital LLC grew its holdings in NextEra Energy Partners by 19.7% during the 3rd quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider's stock valued at $27,129,000 after purchasing an additional 161,436 shares in the last quarter. abrdn plc increased its stake in NextEra Energy Partners by 6.2% during the 3rd quarter. abrdn plc now owns 850,200 shares of the solar energy provider's stock worth $23,483,000 after buying an additional 49,400 shares during the period. Raymond James & Associates lifted its holdings in NextEra Energy Partners by 6.2% in the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider's stock worth $22,172,000 after buying an additional 46,718 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in NextEra Energy Partners by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider's stock worth $19,127,000 after buying an additional 22,370 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on NEP shares. Morgan Stanley raised NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 target price on the stock in a research report on Monday, December 2nd. Barclays restated an "underweight" rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. BNP Paribas assumed coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an "underperform" rating and a $15.00 target price on the stock. Guggenheim downgraded shares of 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 research report on Monday, October 28th. Finally, JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an "underweight" rating to a "neutral" rating and cut their price target for the company from $25.00 to $22.00 in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners has an average rating of "Hold" and a consensus price target of $26.85.

NextEra Energy Partners Stock Performance

Shares of NYSE:NEP traded down $0.58 during trading on Friday, hitting $17.62. 1,825,247 shares of the company traded hands, compared to its average volume of 2,181,460. The stock has a market capitalization of $1.65 billion, a price-to-earnings ratio of 8.08 and a beta of 1.07. The business's fifty day moving average is $20.77 and its 200-day moving average is $25.11. NextEra Energy Partners, LP has a one year low of $15.55 and a one year high of $35.15. 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 - Get Free Report) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.57 EPS. As a group, equities 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 company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 annualized dividend and a dividend yield of 20.83%. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's dividend payout ratio is currently 168.35%.

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.