NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Swedbank AB

Swedbank AB trimmed its holdings 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 (SEC). The firm owned 243,382 shares of the solar energy provider's stock after selling 73,301 shares during the quarter. Swedbank AB owned approximately 0.26% of NextEra Energy Partners worth $6,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. M&G PLC lifted its holdings in shares of NextEra Energy Partners by 19.3% in the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock worth $85,738,000 after buying an additional 496,383 shares during the period. abrdn plc grew its holdings in NextEra Energy Partners by 6.2% during the 3rd quarter. abrdn plc now owns 850,200 shares of the solar energy provider's stock worth $23,483,000 after acquiring an additional 49,400 shares in the last quarter. Raymond James & Associates increased its position in NextEra Energy Partners by 6.2% during the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider's stock valued at $22,172,000 after purchasing an additional 46,718 shares during the period. Redwood Grove Capital LLC raised its holdings in shares of NextEra Energy Partners by 0.9% in the 1st quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider's stock valued at $23,359,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of NextEra Energy Partners by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider's stock worth $19,127,000 after purchasing an additional 22,370 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Morgan Stanley lowered NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and lowered their target price for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. Guggenheim downgraded shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and reduced their target price for the stock from $37.00 to $22.00 in a report on Monday, October 28th. UBS Group cut their price objective 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. Barclays restated an "underweight" rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Finally, Jefferies Financial Group reduced their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, NextEra Energy Partners has an average rating of "Hold" and a consensus price target of $26.69.

NextEra Energy Partners Stock Performance

NEP traded up $0.28 on Thursday, reaching $17.47. The company had a trading volume of 2,355,299 shares, compared to its average volume of 1,579,016. The stock has a 50-day moving average price of $22.05 and a 200-day moving average price of $25.85. The stock has a market capitalization of $1.63 billion, a PE ratio of 8.01 and a beta of 1.10. NextEra Energy Partners, LP has a 1 year low of $15.55 and a 1 year 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.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its quarterly earnings data 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 firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. NextEra Energy Partners's revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 earnings per share. As a group, research analysts forecast that NextEra Energy Partners, LP will post 1.36 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were issued a $0.9175 dividend. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 21.01%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners's dividend payout ratio (DPR) 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.