Bank of America Corp DE reduced its stake in NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 0.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,079,408 shares of the solar energy provider’s stock after selling 9,704 shares during the quarter. Bank of America Corp DE owned 1.25% of NextEra Energy Partners worth $75,656,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in NEP. JPMorgan Chase & Co. lifted its position 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 in the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in NextEra Energy Partners by 43.2% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock valued at $790,000 after acquiring an additional 2,858 shares in the last quarter. Private Advisor Group LLC increased its stake in NextEra Energy Partners by 123.8% in the 1st quarter. Private Advisor Group LLC now owns 5,466 shares of the solar energy provider’s stock valued at $456,000 after buying an additional 3,024 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in NextEra Energy Partners by 8.7% in the 1st quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the solar energy provider’s stock valued at $406,000 after buying an additional 390 shares during the last quarter. Finally, Bank of Montreal Can increased its stake in NextEra Energy Partners by 0.6% in the 1st quarter. Bank of Montreal Can now owns 65,199 shares of the solar energy provider’s stock valued at $5,488,000 after buying an additional 402 shares during the last quarter. 83.05% of the stock is owned by institutional investors.
NextEra Energy Partners Stock Up 1.7 %
Shares of NEP opened at $62.47 on Monday. NextEra Energy Partners, LP has a 52 week low of $51.58 and a 52 week high of $86.06. The firm has a market cap of $5.55 billion, a P/E ratio of 16.57, a price-to-earnings-growth ratio of 3.77 and a beta of 0.89. The firm’s 50-day simple moving average is $59.88 and its 200 day simple moving average is $67.62. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.33 and a current ratio of 1.39.
NextEra Energy Partners (NYSE:NEP – Get Rating) last announced its quarterly earnings results on Tuesday, April 25th. The solar energy provider reported ($0.17) EPS for the quarter, missing analysts’ consensus estimates of $0.31 by ($0.48). NextEra Energy Partners had a net margin of 25.91% and a return on equity of 2.38%. The company had revenue of $301.00 million during the quarter, compared to analyst estimates of $355.92 million. During the same quarter last year, the company posted $1.72 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. On average, analysts forecast that NextEra Energy Partners, LP will post 1.34 earnings per share for the current year.
NextEra Energy Partners Increases Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, May 15th. Shareholders of record on Friday, May 5th were issued a $0.8425 dividend. The ex-dividend date was Thursday, May 4th. This represents a $3.37 dividend on an annualized basis and a yield of 5.39%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.81. NextEra Energy Partners’s payout ratio is currently 89.39%.
Wall Street Analyst Weigh In
NEP has been the topic of several recent research reports. Wells Fargo & Company lowered their price target on shares of NextEra Energy Partners from $85.00 to $80.00 in a research note on Wednesday, May 17th. Bank of America upgraded shares of NextEra Energy Partners from an “underperform” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $60.00 in a research note on Thursday. Royal Bank of Canada lowered their price target on shares of NextEra Energy Partners from $74.00 to $73.00 in a research note on Monday, May 22nd. Guggenheim lowered their price target on shares of NextEra Energy Partners from $81.00 to $74.00 in a research note on Tuesday, May 9th. Finally, KeyCorp lowered their price objective on shares of NextEra Energy Partners from $83.00 to $72.00 in a research note on Tuesday, April 18th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat, NextEra Energy Partners presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.92.
Insider Buying and Selling at NextEra Energy Partners
In other NextEra Energy Partners news, Director Peter H. Kind acquired 1,750 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was purchased at an average price of $56.89 per share, with a total value of $99,557.50. Following the acquisition, the director now directly owns 32,340 shares of the company’s stock, valued at approximately $1,839,822.60. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.10% of the company’s stock.
About NextEra Energy Partners
NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
Further Reading
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