Ervin Investment Management LLC cut its holdings in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 62.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,119 shares of the solar energy provider's stock after selling 18,844 shares during the period. Ervin Investment Management LLC's holdings in NextEra Energy Partners were worth $198,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Northwestern Mutual Wealth Management Co. lifted its stake in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in shares of NextEra Energy Partners in the second quarter worth $51,000. Eastern Bank bought a new stake in NextEra Energy Partners during the third quarter valued at $57,000. McIlrath & Eck LLC purchased a new position in NextEra Energy Partners during the third quarter worth about $63,000. Finally, Central Pacific Bank Trust Division increased its stake in NextEra Energy Partners by 153.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider's stock worth $110,000 after acquiring an additional 3,750 shares during the last quarter. Institutional investors own 66.01% of the company's stock.
NextEra Energy Partners Stock Up 1.0 %
Shares of NEP stock traded up $0.18 during trading hours on Monday, hitting $17.09. 1,036,551 shares of the company's stock traded hands, compared to its average volume of 1,131,093. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The stock's fifty day simple moving average is $17.53 and its two-hundred day simple moving average is $22.39. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The stock has a market cap of $1.60 billion, a price-to-earnings ratio of 7.84 and a beta of 1.06.
NextEra Energy Partners (NYSE:NEP - Get Free Report) last announced 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). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million for the quarter, compared to analysts' expectations of $332.25 million. During the same quarter in the previous year, the firm posted $0.57 EPS. The firm's quarterly revenue was up 3.6% compared to the same quarter last year. On average, analysts expect that NextEra Energy Partners, LP will post 2.04 EPS for the current year.
NextEra Energy Partners Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a yield of 21.48%. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners's dividend payout ratio is 168.35%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on the company. Evercore ISI dropped 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. Barclays reissued an "underweight" rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Friday, October 4th. BMO Capital Markets restated a "market perform" rating and set a $18.00 price objective (down previously from $26.00) on shares of NextEra Energy Partners in a research report on Monday, January 13th. CIBC lowered their price target on NextEra Energy Partners from $26.00 to $21.00 and set a "neutral" rating on the stock in a research report on Wednesday, January 8th. Finally, Scotiabank lowered their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a "sector perform" rating for the company in a report on Thursday, December 12th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of "Hold" and a consensus price target of $24.64.
Check Out Our Latest Analysis on NEP
NextEra Energy Partners Company Profile
(
Free Report)
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.
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