NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale reduced its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 79.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 26,071 shares of the solar energy provider’s stock after selling 101,900 shares during the period. DekaBank Deutsche Girozentrale’s holdings in NextEra Energy Partners were worth $755,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in NEP. Johnson Investment Counsel Inc. lifted its position in NextEra Energy Partners by 18.8% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 39,827 shares of the solar energy provider’s stock worth $1,101,000 after acquiring an additional 6,315 shares during the period. Headlands Technologies LLC lifted its holdings in shares of NextEra Energy Partners by 201.4% during the second quarter. Headlands Technologies LLC now owns 43,287 shares of the solar energy provider’s stock worth $1,196,000 after purchasing an additional 28,923 shares during the period. Pinnacle West Asset Management Inc. boosted its position in NextEra Energy Partners by 21.7% in the second quarter. Pinnacle West Asset Management Inc. now owns 8,675 shares of the solar energy provider’s stock valued at $240,000 after buying an additional 1,545 shares during the last quarter. Otter Creek Advisors LLC increased its holdings in NextEra Energy Partners by 28.1% in the 2nd quarter. Otter Creek Advisors LLC now owns 105,923 shares of the solar energy provider’s stock worth $2,928,000 after buying an additional 23,239 shares during the period. Finally, Arizona State Retirement System increased its holdings in NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after buying an additional 509 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts have recently commented on NEP shares. Barclays downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $32.00 to $25.00 in a report on Thursday, June 13th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. Finally, Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $32.67.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $26.79 on Friday. The firm has a 50-day simple moving average of $25.67 and a 200-day simple moving average of $28.22. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.51 billion, a price-to-earnings ratio of 8.78 and a beta of 1.05. NextEra Energy Partners, LP has a 52 week low of $20.17 and a 52 week high of $49.86.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. During the same period in the prior year, the business earned $0.53 EPS. The firm’s quarterly revenue was up 22.9% on a year-over-year basis. On average, equities analysts predict that NextEra Energy Partners, LP will post 1.74 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.905 per share. The ex-dividend date was Tuesday, August 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a yield of 13.51%. NextEra Energy Partners’s payout ratio is 118.69%.

NextEra Energy Partners Company Profile

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. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.