Healthcare of Ontario Pension Plan Trust Fund Has $7.06 Million Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 158.4% in the third quarter, according to its most recent filing with the SEC. The firm owned 255,754 shares of the solar energy provider's stock after acquiring an additional 156,774 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned about 0.27% of NextEra Energy Partners worth $7,064,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Ameritas Advisory Services LLC increased its stake in shares of NextEra Energy Partners by 1.4% during the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider's stock valued at $807,000 after acquiring an additional 412 shares during the period. Brown Miller Wealth Management LLC boosted its stake in NextEra Energy Partners by 2.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider's stock valued at $509,000 after purchasing an additional 433 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of NextEra Energy Partners by 0.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider's stock valued at $1,336,000 after purchasing an additional 454 shares during the period. Arizona State Retirement System raised its stake in shares of NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider's stock worth $724,000 after buying an additional 509 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC lifted its holdings in shares of NextEra Energy Partners by 4.6% in the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider's stock valued at $362,000 after buying an additional 581 shares during the period. Institutional investors own 66.01% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on NEP shares. BMO Capital Markets lowered their target price on NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Monday, October 21st. Mizuho lowered their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They issued an "underperform" rating and a $15.00 target price on the stock. Evercore ISI reduced 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. Finally, CIBC decreased their price target on shares of 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 equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $26.69.

NextEra Energy Partners Stock Performance

Shares of NEP stock remained flat at $17.47 on Friday. The stock had a trading volume of 692,904 shares, compared to its average volume of 1,575,181. The company has a market capitalization of $1.63 billion, a P/E ratio of 8.01 and a beta of 1.10. NextEra Energy Partners, LP has a twelve month low of $15.55 and a twelve month 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. The company has a 50-day moving average of $21.67 and a 200 day moving average of $25.65.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to analysts' expectations 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 was up 3.6% compared to the same quarter last year. During the same period last year, the firm earned $0.57 EPS. Research analysts predict that NextEra Energy Partners, LP will post 1.36 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a yield of 21.01%. The ex-dividend date was Wednesday, November 6th. 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%.

About NextEra Energy Partners

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.