JPMorgan Chase & Co. Sells 753,413 Shares of NextEra Energy Partners, LP (NYSE:NEP)

JPMorgan Chase & Co. lowered its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 87.3% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 109,544 shares of the solar energy provider's stock after selling 753,413 shares during the period. JPMorgan Chase & Co. owned about 0.12% of NextEra Energy Partners worth $3,026,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC bought a new position in shares of NextEra Energy Partners during the second quarter valued at about $51,000. Marshall Wace LLP bought a new position in NextEra Energy Partners during the 2nd quarter worth approximately $638,000. Aristeia Capital L.L.C. purchased a new position in NextEra Energy Partners in the 2nd quarter worth approximately $520,000. Fred Alger Management LLC bought a new stake in NextEra Energy Partners in the second quarter valued at approximately $5,452,000. Finally, Creative Planning lifted its position in NextEra Energy Partners by 15.2% in the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider's stock valued at $313,000 after purchasing an additional 1,490 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NEP shares. Guggenheim downgraded shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an "underweight" rating to a "neutral" rating and cut their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, October 24th. CIBC dropped their price target on 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. Morgan Stanley raised shares of NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 price objective on the stock in a research report on Monday, December 2nd. Finally, Evercore ISI lowered their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $24.64.

NextEra Energy Partners Stock Performance

Shares of NYSE NEP traded up $0.18 during trading on Monday, reaching $17.09. 1,036,551 shares of the company 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 firm has a 50 day simple moving average of $17.53 and a 200-day simple moving average of $22.39. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15. The stock has a market capitalization of $1.60 billion, a PE ratio of 7.84 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its 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 company had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company's revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the firm posted $0.57 EPS. Equities research analysts anticipate that NextEra Energy Partners, LP will post 2.04 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a yield of 21.48%. 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.