Thrivent Financial for Lutherans Invests $16.19 Million in NextEra Energy Partners, LP (NYSE:NEP)

Thrivent Financial for Lutherans acquired a new position in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 586,013 shares of the solar energy provider's stock, valued at approximately $16,186,000. Thrivent Financial for Lutherans owned approximately 0.63% of NextEra Energy Partners as of its most recent SEC filing.

Several other large investors have also modified their holdings of NEP. Blair William & Co. IL increased its position in NextEra Energy Partners by 42.5% during the first quarter. Blair William & Co. IL now owns 21,390 shares of the solar energy provider's stock worth $643,000 after buying an additional 6,378 shares during the last quarter. Vanguard Group Inc. raised its stake in shares of NextEra Energy Partners by 3.6% in the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider's stock valued at $19,127,000 after acquiring an additional 22,370 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund raised its stake in shares of NextEra Energy Partners by 14.3% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 99,072 shares of the solar energy provider's stock valued at $2,980,000 after acquiring an additional 12,412 shares during the last quarter. Shell Asset Management Co. bought a new position in shares of NextEra Energy Partners in the first quarter valued at approximately $393,000. Finally, Gamco Investors INC. ET AL raised its position in NextEra Energy Partners by 10.5% in the 1st quarter. Gamco Investors INC. ET AL now owns 239,655 shares of the solar energy provider's stock worth $7,209,000 after purchasing an additional 22,707 shares during the last quarter. 66.01% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have commented on the stock. BMO Capital Markets lowered their target price on shares of NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating for the company in a report on Monday, October 21st. StockNews.com raised shares of NextEra Energy Partners to a "sell" rating in a research report on Thursday, July 25th. CIBC dropped their target price on shares of NextEra Energy Partners from $34.00 to $32.00 and set a "neutral" rating on the stock in a report on Tuesday, October 22nd. UBS Group decreased their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley lowered shares of NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and decreased their target price for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $26.69.

NextEra Energy Partners Stock Up 1.8 %

NYSE:NEP traded up $0.29 on Thursday, reaching $16.37. 1,075,913 shares of the stock traded hands, compared to its average volume of 1,571,352. The company's fifty day simple moving average is $22.90 and its 200 day simple moving average is $26.34. NextEra Energy Partners, LP has a 12 month low of $15.55 and a 12 month high of $35.15. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 7.48 and a beta of 1.10. The company has a current ratio of 2.02, a quick ratio of 1.78 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 (EPS) for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business had revenue of $319.00 million during the quarter, compared to analysts' expectations of $332.25 million. During the same period in the previous year, the business posted $0.57 EPS. The business's quarterly revenue was up 3.6% compared to the same quarter last year. Equities analysts predict that NextEra Energy Partners, LP will post 1.36 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a yield of 22.41%. NextEra Energy Partners's payout ratio is 168.35%.

NextEra Energy Partners 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.