Nordea Investment Management AB cut its stake in NextEra Energy Partners, LP by 7.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,810 shares of the solar energy provider’s stock after selling 6,700 shares during the quarter. Nordea Investment Management AB owned approximately 0.09% of NextEra Energy Partners worth $4,708,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in NextEra Energy Partners by 2.8% in the 1st quarter. JPMorgan Chase & Co. now owns 29,854 shares of the solar energy provider’s stock valued at $2,488,000 after acquiring an additional 800 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in shares of NextEra Energy Partners by 43.2% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock worth $790,000 after buying an additional 2,858 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of NextEra Energy Partners by 123.8% during the 1st quarter. Private Advisor Group LLC now owns 5,466 shares of the solar energy provider’s stock worth $456,000 after buying an additional 3,024 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of NextEra Energy Partners by 8.7% during the 1st quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the solar energy provider’s stock worth $406,000 after buying an additional 390 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of NextEra Energy Partners by 0.6% during the 1st quarter. Bank of Montreal Can now owns 65,199 shares of the solar energy provider’s stock worth $5,488,000 after buying an additional 402 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy Partners Trading Down 1.4 %
Shares of NEP opened at $57.83 on Wednesday. The firm’s 50-day moving average is $59.56 and its two-hundred day moving average is $64.96. The firm has a market capitalization of $5.14 billion, a P/E ratio of 15.34, a PEG ratio of 3.49 and a beta of 0.86. NextEra Energy Partners, LP has a twelve month low of $51.58 and a twelve month high of $86.06. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 0.37.
NextEra Energy Partners (NYSE:NEP – Free Report) last released its quarterly earnings results on Tuesday, April 25th. The solar energy provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.48). The business had revenue of $301.00 million during the quarter, compared to analyst estimates of $355.92 million. NextEra Energy Partners had a net margin of 25.91% and a return on equity of 2.38%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.72 earnings per share. On average, research analysts predict that NextEra Energy Partners, LP will post 1.34 earnings per share for the current fiscal year.
NextEra Energy Partners Increases Dividend
The firm also recently declared a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, May 5th were given a $0.8425 dividend. The ex-dividend date was Thursday, May 4th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.81. This represents a $3.37 annualized dividend and a dividend yield of 5.83%. NextEra Energy Partners’s dividend payout ratio is currently 89.39%.
Analyst Ratings Changes
A number of analysts have recently issued reports on NEP shares. TheStreet downgraded shares of NextEra Energy Partners from a “b-” rating to a “c+” rating in a report on Tuesday, March 7th. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from a “neutral” rating to an “overweight” rating and cut their price target for the stock from $81.00 to $73.00 in a report on Friday, April 21st. CIBC upgraded shares of NextEra Energy Partners from a “sector perform” rating to a “sector outperform” rating in a report on Monday, May 8th. KeyCorp dropped their target price on shares of NextEra Energy Partners from $83.00 to $72.00 in a report on Tuesday, April 18th. Finally, Royal Bank of Canada dropped their price target on shares of NextEra Energy Partners from $74.00 to $73.00 in a research note on Monday, May 22nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $77.80.
Insider Activity
In other NextEra Energy Partners news, Director Peter H. Kind purchased 1,750 shares of the stock in a transaction dated Thursday, April 27th. The shares were acquired at an average cost of $56.89 per share, for a total transaction of $99,557.50. Following the completion of the transaction, the director now directly owns 32,340 shares of the company’s stock, valued at $1,839,822.60. The purchase was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.10% of the company’s stock.
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, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.