Nextera Energy Partners LP (NEP) Shares Bought by ETF Managers Group LLC

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ETF Managers Group LLC increased its stake in shares of Nextera Energy Partners LP (NYSE:NEP) by 17.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 3,308 shares of the solar energy provider’s stock after acquiring an additional 492 shares during the quarter. ETF Managers Group LLC’s holdings in Nextera Energy Partners were worth $142,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEP. Reaves W H & Co. Inc. lifted its stake in shares of Nextera Energy Partners by 2.1% in the third quarter. Reaves W H & Co. Inc. now owns 1,613,198 shares of the solar energy provider’s stock valued at $78,240,000 after buying an additional 33,503 shares in the last quarter. Beach Investment Counsel Inc. PA lifted its stake in shares of Nextera Energy Partners by 0.9% in the third quarter. Beach Investment Counsel Inc. PA now owns 1,294,807 shares of the solar energy provider’s stock valued at $62,798,000 after buying an additional 11,028 shares in the last quarter. Morgan Stanley lifted its stake in shares of Nextera Energy Partners by 29.6% in the third quarter. Morgan Stanley now owns 988,341 shares of the solar energy provider’s stock valued at $47,935,000 after buying an additional 225,797 shares in the last quarter. Eaton Vance Management lifted its stake in shares of Nextera Energy Partners by 11.3% in the third quarter. Eaton Vance Management now owns 721,429 shares of the solar energy provider’s stock valued at $34,989,000 after buying an additional 72,973 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its stake in shares of Nextera Energy Partners by 15.1% in the third quarter. Kayne Anderson Capital Advisors LP now owns 626,203 shares of the solar energy provider’s stock valued at $30,359,000 after buying an additional 82,128 shares in the last quarter. 82.29% of the stock is currently owned by institutional investors and hedge funds.

Shares of NEP stock opened at $41.62 on Tuesday. The stock has a market capitalization of $2.28 billion, a PE ratio of 14.30, a PEG ratio of 2.14 and a beta of 0.93. The company has a debt-to-equity ratio of 1.00, a current ratio of 5.54 and a quick ratio of 5.54. Nextera Energy Partners LP has a one year low of $37.31 and a one year high of $50.66.

Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Friday, January 25th. The solar energy provider reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.88). The firm had revenue of $155.00 million during the quarter, compared to analysts’ expectations of $276.40 million. Nextera Energy Partners had a net margin of 23.25% and a return on equity of 5.46%. During the same quarter in the prior year, the company earned $0.18 EPS. On average, equities research analysts anticipate that Nextera Energy Partners LP will post 2.11 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 14th. Investors of record on Wednesday, February 6th will be issued a dividend of $0.465 per share. This represents a $1.86 dividend on an annualized basis and a yield of 4.47%. The ex-dividend date is Tuesday, February 5th. This is an increase from Nextera Energy Partners’s previous quarterly dividend of $0.45. Nextera Energy Partners’s dividend payout ratio (DPR) is 63.92%.

A number of research analysts have weighed in on the stock. Bank of America lowered shares of Nextera Energy Partners from a “buy” rating to a “neutral” rating in a research note on Thursday, October 25th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, October 29th. TheStreet downgraded shares of Nextera Energy Partners from a “b-” rating to a “c+” rating in a report on Friday, January 25th. Macquarie upgraded shares of Nextera Energy Partners from a “neutral” rating to an “outperform” rating and lowered their target price for the company from $47.00 to $44.00 in a report on Monday, February 4th. Finally, Barclays started coverage on shares of Nextera Energy Partners in a report on Thursday, February 7th. They issued an “overweight” rating and a $49.00 target price for the company. Seven analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.65.

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Nextera Energy Partners Company 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.

Read More: Capital Gains

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Institutional Ownership by Quarter for Nextera Energy Partners (NYSE:NEP)

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