Y Intercept Hong Kong Ltd Takes Position in NextEra Energy Partners, LP (NYSE:NEP)

Y Intercept Hong Kong Ltd purchased a new stake in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 34,601 shares of the solar energy provider's stock, valued at approximately $956,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of NEP. Northwestern Mutual Wealth Management Co. boosted its stake in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock valued at $46,000 after buying an additional 1,000 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners in the second quarter worth approximately $51,000. Eastern Bank bought a new position in NextEra Energy Partners during the third quarter valued at approximately $57,000. Central Bank & Trust Co. purchased a new position in NextEra Energy Partners in the 2nd quarter worth $99,000. Finally, International Assets Investment Management LLC bought a new stake in NextEra Energy Partners in the second quarter worth $104,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have commented on NEP. Evercore ISI decreased their price target on NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research note on Thursday, October 24th. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an "underweight" rating to a "neutral" rating and decreased their target price for the company from $25.00 to $22.00 in a report on Thursday, October 24th. 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 report on Thursday, October 24th. Scotiabank reduced their price target on NextEra Energy Partners from $26.00 to $15.00 and set a "sector perform" rating on the stock in a research note on Thursday. Finally, Guggenheim cut shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and lowered their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $26.00.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock traded up $0.27 during midday trading on Friday, hitting $17.91. 1,200,145 shares of the company were exchanged, compared to its average volume of 1,583,568. The firm has a market capitalization of $1.67 billion, a PE ratio of 8.08 and a beta of 1.07. NextEra Energy Partners, LP has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The business has a fifty day simple moving average of $20.06 and a two-hundred day simple moving average of $24.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.

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 the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million for the quarter, compared to analysts' expectations 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 quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the firm posted $0.57 earnings per share. On average, sell-side analysts forecast that NextEra Energy Partners, LP will post 1.96 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared 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. 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 dividend on an annualized basis and a dividend yield of 20.50%. 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.