Traders Purchase Large Volume of NextEra Energy Partners Call Options (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) saw some unusual options trading on Tuesday. Stock traders bought 12,140 call options on the company. This is an increase of approximately 212% compared to the typical volume of 3,885 call options.

NextEra Energy Partners Stock Up 2.4 %

Shares of NEP traded up $0.48 during mid-day trading on Tuesday, reaching $20.67. 2,864,759 shares of the stock traded hands, compared to its average volume of 1,514,923. The stock has a fifty day simple moving average of $24.72 and a 200 day simple moving average of $27.31. NextEra Energy Partners has a 12-month low of $19.03 and a 12-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 firm has a market cap of $1.93 billion, a price-to-earnings ratio of 9.18 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million for the quarter, compared to analysts' expectations of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business's quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $0.57 EPS. Sell-side analysts expect that NextEra Energy Partners will post 1.45 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Investors of record on Wednesday, November 6th will be issued a $0.9175 dividend. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a yield of 17.76%. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's dividend payout ratio is currently 168.35%.

Institutional Investors Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NEP. Central Pacific Bank Trust Division acquired a new stake in shares of NextEra Energy Partners during the first quarter worth approximately $36,000. Northwestern Mutual Wealth Management Co. grew its holdings in 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. Larson Financial Group LLC bought a new stake in shares of NextEra Energy Partners in the 1st quarter worth about $48,000. EverSource Wealth Advisors LLC bought a new position in shares of NextEra Energy Partners during the second quarter worth about $51,000. Finally, Eastern Bank acquired a new position in NextEra Energy Partners in the third quarter worth about $57,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEP has been the subject of several recent analyst reports. Evercore ISI reduced their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Thursday, October 24th. Barclays restated an "underweight" rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. 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. 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. Finally, BMO Capital Markets cut their price target on NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $26.69.

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.