UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Purchases 53,221 Shares of NextEra Energy Partners, LP (NYSE:NEP)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 14.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 419,245 shares of the solar energy provider's stock after acquiring an additional 53,221 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned approximately 0.45% of NextEra Energy Partners worth $11,580,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. M&G PLC increased its holdings 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 acquiring an additional 496,383 shares during the last quarter. abrdn plc raised its position in shares of NextEra Energy Partners by 6.2% in the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider's stock valued at $23,483,000 after purchasing an additional 49,400 shares during the period. Raymond James & Associates lifted its stake in shares of 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 worth $22,172,000 after buying an additional 46,718 shares during the last quarter. Vanguard Group Inc. boosted its holdings in shares of NextEra Energy Partners by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider's stock worth $19,127,000 after buying an additional 22,370 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new position in NextEra Energy Partners in the 3rd quarter valued at about $16,186,000. Institutional investors own 66.01% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEP. CIBC reduced their price objective on NextEra Energy Partners from $34.00 to $32.00 and set a "neutral" rating for the company in a report on Tuesday, October 22nd. Guggenheim downgraded NextEra Energy Partners from a "buy" rating to a "neutral" rating and reduced their price target for the company from $37.00 to $22.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. raised NextEra Energy Partners from an "underweight" rating to a "neutral" rating and decreased their price objective for the company from $25.00 to $22.00 in a report on Thursday, October 24th. Jefferies Financial Group reduced 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. Finally, BMO Capital Markets lowered their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating on the stock in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average price target of $26.85.

NextEra Energy Partners Price Performance

NEP stock traded down $0.58 during trading on Friday, reaching $17.62. 1,825,247 shares of the company were exchanged, compared to its average volume of 2,181,460. NextEra Energy Partners, LP has a twelve month low of $15.55 and a twelve month 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. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 8.08 and a beta of 1.07. The company has a 50-day moving average of $20.77 and a two-hundred day moving average of $25.11.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released 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). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same period last year, the business earned $0.57 EPS. The company's revenue was up 3.6% compared to the same quarter last year. As a group, equities analysts predict that NextEra Energy Partners, LP will post 1.41 earnings per share 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 paid a $0.9175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 annualized dividend and a dividend yield of 20.83%. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.91. NextEra Energy Partners's dividend payout ratio is currently 168.35%.

About NextEra Energy Partners

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.