NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Raymond James & Associates

Raymond James & Associates cut its position in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 39.0% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 489,716 shares of the solar energy provider's stock after selling 312,445 shares during the period. Raymond James & Associates owned 0.52% of NextEra Energy Partners worth $13,526,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in NEP. Hexagon Capital Partners LLC lifted its position in NextEra Energy Partners by 208.3% during the first 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 in the last quarter. Central Pacific Bank Trust Division purchased a new position in NextEra Energy Partners during the first quarter worth approximately $36,000. FinTrust Capital Advisors LLC purchased a new position in NextEra Energy Partners during the first quarter worth approximately $45,000. Northwestern Mutual Wealth Management Co. lifted its position in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock worth $46,000 after buying an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new position in NextEra Energy Partners during the first quarter worth approximately $48,000. 66.01% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have commented on NEP. UBS Group reduced their target price on 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. StockNews.com upgraded NextEra Energy Partners to a "sell" rating in a research report on Thursday, July 25th. Wolfe Research downgraded NextEra Energy Partners from an "outperform" rating to a "peer perform" rating in a research report on Thursday, July 25th. Royal Bank of Canada downgraded NextEra Energy Partners from an "outperform" rating to a "sector perform" rating and cut their price objective for the company from $38.00 to $30.00 in a report on Monday, July 1st. Finally, Raymond James downgraded NextEra Energy Partners from an "outperform" rating to a "market perform" rating in a report on Tuesday, July 9th. 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 data from MarketBeat, NextEra Energy Partners currently has a consensus rating of "Hold" and a consensus target price of $26.69.

NextEra Energy Partners Stock Performance

Shares of NEP stock traded down $0.70 during trading hours on Monday, reaching $20.40. 3,218,374 shares of the company's stock were exchanged, compared to its average volume of 1,965,678. The company has a market cap of $1.91 billion, a P/E ratio of 9.36 and a beta of 1.06. The company's 50 day moving average is $25.44 and its two-hundred day moving average is $27.64. NextEra Energy Partners, LP has a 1 year low of $20.28 and a 1 year high of $35.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts' consensus estimates 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 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 company posted $0.57 earnings per share. Equities research analysts anticipate that NextEra Energy Partners, LP will post 1.77 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company 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 dividend yield of 17.99%. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's dividend payout ratio is currently 166.06%.

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.