Tortoise Capital Advisors L.L.C. lessened its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 5.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,205 shares of the solar energy provider’s stock after selling 2,701 shares during the quarter. Tortoise Capital Advisors L.L.C. owned approximately 0.08% of NextEra Energy Partners worth $1,741,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NextEra Energy Partners by 10.4% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the solar energy provider’s stock valued at $117,000 after acquiring an additional 298 shares in the last quarter. US Bancorp DE boosted its position in NextEra Energy Partners by 2,000.0% during the 2nd quarter. US Bancorp DE now owns 4,200 shares of the solar energy provider’s stock valued at $155,000 after acquiring an additional 4,000 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in NextEra Energy Partners by 14.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,800 shares of the solar energy provider’s stock valued at $178,000 after acquiring an additional 600 shares in the last quarter. Stratos Wealth Partners LTD. bought a new stake in NextEra Energy Partners during the 3rd quarter valued at $203,000. Finally, Stephens Inc. AR bought a new stake in NextEra Energy Partners during the 3rd quarter valued at $206,000. 83.49% of the stock is currently owned by institutional investors and hedge funds.
NextEra Energy Partners, LP (NEP) traded up $0.65 during trading hours on Friday, hitting $43.11. The stock had a trading volume of 156,324 shares, compared to its average volume of 284,751. NextEra Energy Partners, LP has a 52-week low of $25.17 and a 52-week high of $44.00. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.20 and a quick ratio of 3.20. The firm has a market cap of $2,303.50, a PE ratio of 31.24, a PEG ratio of 4.35 and a beta of 1.19.
NEP has been the subject of several analyst reports. TheStreet lowered NextEra Energy Partners from a “b” rating to a “c+” rating in a report on Thursday, October 26th. Morgan Stanley upgraded NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Tuesday, December 12th. Bank of America reiterated an “underperform” rating and set a $35.00 price objective on shares of NextEra Energy Partners in a report on Tuesday, October 24th. JPMorgan Chase & Co. decreased their price objective on NextEra Energy Partners from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Finally, Credit Suisse Group started coverage on NextEra Energy Partners in a research note on Thursday, December 7th. They issued an “outperform” rating and a $44.00 target price for the company. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have given a buy rating to the stock. NextEra Energy Partners has a consensus rating of “Hold” and an average price target of $40.03.
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NextEra Energy Partners Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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