Reaves W H & Co. Inc. reduced its stake in shares of NextEra Energy Partners (NYSE:NEP) by 13.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,660,370 shares of the solar energy provider’s stock after selling 255,053 shares during the quarter. NextEra Energy Partners accounts for 2.3% of Reaves W H & Co. Inc.’s portfolio, making the stock its 16th largest position. Reaves W H & Co. Inc. owned about 3.06% of NextEra Energy Partners worth $66,398,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in the business. Swiss National Bank raised its stake in NextEra Energy Partners by 3.3% during the first quarter. Swiss National Bank now owns 94,400 shares of the solar energy provider’s stock worth $3,775,000 after acquiring an additional 3,000 shares in the last quarter. Massachusetts Financial Services Co. MA raised its stake in NextEra Energy Partners by 0.4% during the first quarter. Massachusetts Financial Services Co. MA now owns 2,252,813 shares of the solar energy provider’s stock worth $90,090,000 after acquiring an additional 10,037 shares in the last quarter. Trexquant Investment LP acquired a new position in NextEra Energy Partners during the first quarter worth $263,000. Kayne Anderson Capital Advisors LP raised its stake in NextEra Energy Partners by 36.1% during the first quarter. Kayne Anderson Capital Advisors LP now owns 653,075 shares of the solar energy provider’s stock worth $26,103,000 after acquiring an additional 173,081 shares in the last quarter. Finally, Texas Yale Capital Corp. raised its stake in NextEra Energy Partners by 19.2% during the first quarter. Texas Yale Capital Corp. now owns 68,005 shares of the solar energy provider’s stock worth $2,720,000 after acquiring an additional 10,960 shares in the last quarter. Hedge funds and other institutional investors own 83.44% of the company’s stock.
Several research analysts have issued reports on NEP shares. Zacks Investment Research lowered NextEra Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, April 11th. Bank of America upgraded NextEra Energy Partners from an “underperform” rating to a “buy” rating and increased their price objective for the stock from $39.12 to $43.00 in a research note on Friday, March 16th. JPMorgan Chase dropped their price objective on NextEra Energy Partners from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. Finally, ValuEngine upgraded NextEra Energy Partners from a “hold” rating to a “buy” rating in a report on Monday, April 2nd. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $43.12.
NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Tuesday, April 24th. The solar energy provider reported $1.21 EPS for the quarter, topping the consensus estimate of $0.40 by $0.81. The company had revenue of $212.00 million for the quarter, compared to analysts’ expectations of $273.98 million. NextEra Energy Partners had a positive return on equity of 4.38% and a negative net margin of 0.51%. equities analysts predict that NextEra Energy Partners will post 1.82 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, May 15th. Investors of record on Monday, May 7th were issued a $0.42 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.41. The ex-dividend date of this dividend was Friday, May 4th. This represents a $1.68 annualized dividend and a yield of 3.88%. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 254.55%.
NextEra Energy Partners Profile
NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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