NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Commerce Bank

Commerce Bank lowered its stake in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 77.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 117,995 shares of the solar energy provider's stock after selling 400,828 shares during the period. Commerce Bank owned about 0.13% of NextEra Energy Partners worth $3,259,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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 worth $46,000 after acquiring an additional 1,000 shares in the last quarter. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners during the second quarter worth $51,000. Eastern Bank acquired a new stake in NextEra Energy Partners in the third quarter valued at $57,000. Central Bank & Trust Co. acquired a new stake in NextEra Energy Partners in the second quarter valued at $99,000. Finally, International Assets Investment Management LLC purchased a new position in shares of NextEra Energy Partners in the second quarter valued at $104,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on NEP shares. Jefferies Financial Group lowered their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Guggenheim cut shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Barclays restated an "underweight" rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Morgan Stanley cut NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and lowered their target price for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Finally, JPMorgan Chase & Co. raised NextEra Energy Partners from an "underweight" rating to a "neutral" rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday, October 24th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $26.69.

NextEra Energy Partners Trading Up 2.6 %

Shares of NEP stock traded up $0.43 during trading hours on Friday, hitting $16.78. 1,921,738 shares of the company were exchanged, compared to its average volume of 2,727,133. NextEra Energy Partners, LP has a 1 year low of $15.55 and a 1 year high of $35.15. The firm has a fifty day moving average of $22.55 and a 200 day moving average of $26.18. The firm has a market cap of $1.57 billion, a PE ratio of 7.70 and a beta of 1.10. 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 posted its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. 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 prior year, the business earned $0.57 EPS. The business's revenue for the quarter was up 3.6% on a year-over-year basis. Analysts expect that NextEra Energy Partners, LP will post 1.36 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 21.87%. The ex-dividend date was Wednesday, November 6th. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's payout ratio is 168.35%.

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.