Two Sigma Advisers LP Purchases New Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners, LP (NYSE:NEP - Free Report) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 554,300 shares of the solar energy provider's stock, valued at approximately $15,310,000. Two Sigma Advisers LP owned about 0.59% of NextEra Energy Partners at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in 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 valued at $19,127,000 after purchasing an additional 22,370 shares during the last quarter. Cetera Investment Advisers grew its position in NextEra Energy Partners by 574.0% in the first quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider's stock worth $1,917,000 after acquiring an additional 54,267 shares during the period. Monetary Management Group Inc. increased its stake in NextEra Energy Partners by 6.2% during the second quarter. Monetary Management Group Inc. now owns 35,765 shares of the solar energy provider's stock worth $989,000 after acquiring an additional 2,100 shares during the last quarter. Aurora Private Wealth Inc. raised its position in NextEra Energy Partners by 55.9% in the second quarter. Aurora Private Wealth Inc. now owns 11,713 shares of the solar energy provider's stock valued at $324,000 after purchasing an additional 4,201 shares during the period. Finally, Abundance Wealth Counselors lifted its stake in shares of NextEra Energy Partners by 14.8% in the 2nd quarter. Abundance Wealth Counselors now owns 58,279 shares of the solar energy provider's stock valued at $1,611,000 after purchasing an additional 7,526 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on NEP. CIBC reduced their price objective 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. Jefferies Financial Group reduced their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. Barclays reaffirmed an "underweight" rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Morgan Stanley raised NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 target price on the stock in a research report on Monday, December 2nd. Finally, BNP Paribas started coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an "underperform" rating and a $15.00 price target for the company. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners presently has an average rating of "Hold" and a consensus target price of $26.85.

NextEra Energy Partners Stock Up 2.0 %

NextEra Energy Partners stock traded up $0.35 during trading on Monday, reaching $17.97. The stock had a trading volume of 1,124,226 shares, compared to its average volume of 1,589,653. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15. The business has a 50 day moving average price of $20.77 and a 200 day moving average price of $25.04. The stock has a market cap of $1.68 billion, a PE ratio of 8.08 and a beta of 1.07. 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 announced its quarterly 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). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same period last year, the company earned $0.57 earnings per share. The business's revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts predict that NextEra Energy Partners, LP will post 1.41 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 20.42%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. 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.