Truist Financial Corp lowered its position in NextEra Energy Partners, LP (NYSE:NEP – Free Report) by 55.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 3,533 shares of the solar energy provider’s stock after selling 4,425 shares during the period. Truist Financial Corp’s holdings in NextEra Energy Partners were worth $207,000 at the end of the most recent quarter.
A number of other institutional investors have also bought and sold shares of NEP. Beacon Pointe Advisors LLC boosted its stake in shares of NextEra Energy Partners by 2.9% in the first quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock worth $594,000 after acquiring an additional 200 shares during the period. Lazard Asset Management LLC boosted its stake in NextEra Energy Partners by 69.6% in the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock worth $45,000 after purchasing an additional 224 shares during the period. Brown Miller Wealth Management LLC grew its holdings in NextEra Energy Partners by 5.2% during the 2nd quarter. Brown Miller Wealth Management LLC now owns 5,061 shares of the solar energy provider’s stock valued at $296,000 after buying an additional 249 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in shares of NextEra Energy Partners by 2.7% during the second quarter. Gilman Hill Asset Management LLC now owns 9,675 shares of the solar energy provider’s stock valued at $567,000 after buying an additional 250 shares during the last quarter. Finally, Csenge Advisory Group lifted its holdings in shares of NextEra Energy Partners by 5.8% in the first quarter. Csenge Advisory Group now owns 4,579 shares of the solar energy provider’s stock worth $278,000 after buying an additional 251 shares in the last quarter. Hedge funds and other institutional investors own 80.99% of the company’s stock.
Analyst Ratings Changes
Several equities analysts recently weighed in on the stock. JPMorgan Chase & Co. cut their target price on shares of NextEra Energy Partners from $40.00 to $24.00 in a research note on Monday, October 9th. Morgan Stanley reduced their target price on NextEra Energy Partners from $65.00 to $31.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 3rd. Wells Fargo & Company lowered NextEra Energy Partners from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $80.00 to $33.00 in a research note on Monday, October 2nd. Mizuho reduced their price objective on NextEra Energy Partners from $86.00 to $40.00 and set a “buy” rating on the stock in a research note on Thursday, September 28th. Finally, Raymond James upgraded NextEra Energy Partners from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a research report on Tuesday, August 29th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $50.20.
View Our Latest Stock Report on NEP
NextEra Energy Partners Price Performance
NextEra Energy Partners stock opened at $24.35 on Wednesday. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $81.32. The company has a current ratio of 0.61, a quick ratio of 0.57 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $32.16 and a 200-day moving average price of $47.67. The firm has a market capitalization of $2.28 billion, a PE ratio of 18.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.99.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last announced its quarterly earnings data on Tuesday, October 24th. The solar energy provider reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.09. The business had revenue of $367.00 million during the quarter, compared to the consensus estimate of $414.16 million. NextEra Energy Partners had a net margin of 9.58% and a return on equity of 0.85%. The firm’s quarterly revenue was up 21.5% compared to the same quarter last year. During the same quarter last year, the firm earned $0.93 earnings per share. As a group, equities research analysts forecast that NextEra Energy Partners, LP will post 1.2 EPS for the current year.
NextEra Energy Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Investors of record on Monday, November 6th were issued a dividend of $0.8675 per share. The ex-dividend date of this dividend was Friday, November 3rd. This represents a $3.47 dividend on an annualized basis and a yield of 14.25%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.85. NextEra Energy Partners’s payout ratio is presently 260.90%.
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, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.
Read More
Want to see what other hedge funds are holding NEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy Partners, LP (NYSE:NEP – Free Report).
Receive News & Ratings for NextEra Energy Partners Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for NextEra Energy Partners and related companies with MarketBeat.com’s FREE daily email newsletter.
Source: defenseworld.net
