Swedbank AB Sells 73,301 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Swedbank AB cut its position in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 23.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 243,382 shares of the solar energy provider's stock after selling 73,301 shares during the quarter. Swedbank AB owned 0.26% of NextEra Energy Partners worth $6,722,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Hexagon Capital Partners LLC lifted its position in shares of NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider's stock worth $28,000 after buying an additional 627 shares during the last quarter. Central Pacific Bank Trust Division bought a new position in shares of NextEra Energy Partners in the first quarter worth about $36,000. FinTrust Capital Advisors LLC acquired a new stake in shares of NextEra Energy Partners in the 1st quarter valued at approximately $45,000. Northwestern Mutual Wealth Management Co. grew its holdings 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 valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of NextEra Energy Partners during the 1st quarter valued at approximately $48,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

NEP has been the topic of a number of research analyst reports. UBS Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating on the stock in a research report on Monday, September 30th. Raymond James downgraded NextEra Energy Partners from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 9th. Barclays reaffirmed an "underweight" rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. BMO Capital Markets cut their price target on NextEra Energy Partners from $32.00 to $28.00 and set an "outperform" rating on the stock in a research note on Monday, July 22nd. Finally, Mizuho lowered their price objective 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. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $29.54.

NextEra Energy Partners Trading Up 0.7 %

Shares of NEP traded up $0.18 during trading hours on Friday, hitting $26.19. 634,863 shares of the stock were exchanged, compared to its average volume of 1,395,180. NextEra Energy Partners, LP has a fifty-two week low of $21.83 and a fifty-two week high of $35.15. The business has a 50-day moving average of $25.67 and a 200-day moving average of $27.90. The firm has a market capitalization of $2.45 billion, a P/E ratio of 8.59 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business's quarterly revenue was up 22.9% on a year-over-year basis. During the same period last year, the company posted $0.53 EPS. On average, research analysts expect that NextEra Energy Partners, LP will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.82%. NextEra Energy Partners's payout ratio is 118.69%.

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.