586,013 Shares in NextEra Energy Partners, LP (NYSE:NEP) Acquired by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans purchased a new stake in NextEra Energy Partners, LP (NYSE:NEP - Free Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 586,013 shares of the solar energy provider's stock, valued at approximately $16,186,000. Thrivent Financial for Lutherans owned 0.63% of NextEra Energy Partners at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. M&G PLC increased its position in shares of NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock worth $85,738,000 after purchasing an additional 496,383 shares during the last quarter. abrdn plc increased its stake in shares of NextEra Energy Partners by 6.2% during the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider's stock worth $23,483,000 after purchasing an additional 49,400 shares during the period. Raymond James & Associates lifted its holdings in shares of NextEra Energy Partners by 6.2% during the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider's stock worth $22,172,000 after buying an additional 46,718 shares in the last quarter. Redwood Grove Capital LLC raised its stake in 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 worth $23,359,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Vanguard Group Inc. boosted 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 buying an additional 22,370 shares during the period. Institutional investors own 66.01% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the company. Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from an "underweight" rating to a "neutral" rating and reduced their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, October 24th. Jefferies Financial Group dropped their target price 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. Barclays reissued an "underweight" rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th. Finally, Guggenheim downgraded NextEra Energy Partners from a "buy" rating to a "neutral" rating and reduced their target price for the company from $37.00 to $22.00 in a report on Monday, October 28th. Four equities 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's stock. According to data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of "Hold" and a consensus price target of $26.69.

NextEra Energy Partners Trading Up 0.6 %

Shares of NextEra Energy Partners stock traded up $0.09 during trading on Thursday, hitting $16.17. The company's stock had a trading volume of 67,120 shares, compared to its average volume of 1,565,479. The stock has a market cap of $1.51 billion, a price-to-earnings ratio of 7.38 and a beta of 1.10. NextEra Energy Partners, LP has a 52 week low of $15.55 and a 52 week high of $35.15. The stock has a 50-day moving average price of $22.90 and a two-hundred day moving average price of $26.34. 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 posted its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts' consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. NextEra Energy Partners's revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.57 earnings per share. Equities research analysts anticipate 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. Stockholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. The ex-dividend date of this dividend was Wednesday, November 6th. 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 22.70%. NextEra Energy Partners's dividend 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.