M&G PLC increased its holdings in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 19.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,062,083 shares of the solar energy provider's stock after acquiring an additional 496,383 shares during the period. M&G PLC owned about 3.27% of NextEra Energy Partners worth $85,738,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Central Pacific Bank Trust Division bought a new stake in NextEra Energy Partners during the 1st quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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 worth $46,000 after buying an additional 1,000 shares in the last quarter. Larson Financial Group LLC bought a new stake in NextEra Energy Partners during the first quarter worth $48,000. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners in the 2nd quarter valued at $51,000. Finally, Eastern Bank bought a new position in NextEra Energy Partners during the 3rd quarter valued at $57,000. Institutional investors and hedge funds own 66.01% of the company's stock.
Wall Street Analyst Weigh In
NEP has been the subject of several analyst reports. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from an "underweight" rating to a "neutral" rating and decreased their price objective for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. Guggenheim lowered shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and lowered their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. StockNews.com raised NextEra Energy Partners to a "sell" rating in a report on Thursday, July 25th. Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a research note on Wednesday, October 9th. Finally, CIBC decreased their price target on NextEra Energy Partners from $34.00 to $32.00 and set a "neutral" rating on the stock in a research report on Tuesday, October 22nd. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $26.69.
View Our Latest Analysis on NEP
NextEra Energy Partners Trading Down 1.4 %
Shares of NEP stock traded down $0.26 during trading hours on Thursday, reaching $18.26. The company's stock had a trading volume of 2,871,297 shares, compared to its average volume of 1,534,944. 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, LP has a one year low of $17.94 and a one year high of $35.15. The stock has a market capitalization of $1.71 billion, a P/E ratio of 8.50 and a beta of 1.10. The firm's fifty day simple moving average is $24.51 and its 200 day simple moving average is $27.20.
NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued 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 period in the previous year, the firm posted $0.57 earnings per share. The firm's revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that NextEra Energy Partners, LP will post 1.45 EPS for the current year.
NextEra Energy Partners Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be issued a $0.9175 dividend. The ex-dividend date is Wednesday, November 6th. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a yield of 20.10%. NextEra Energy Partners's dividend payout ratio (DPR) is 166.06%.
About NextEra Energy Partners
(
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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