Future Financial Wealth Managment LLC Makes New Investment in NextEra Energy Partners, LP (NYSE:NEP)

Future Financial Wealth Managment LLC acquired a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 6,270 shares of the solar energy provider’s stock, valued at approximately $173,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC raised its holdings in NextEra Energy Partners by 1.4% during the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after purchasing an additional 412 shares in the last quarter. Pathway Financial Advisers LLC raised its holdings in NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares in the last quarter. Arizona State Retirement System raised its holdings in NextEra Energy Partners by 2.0% during the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares in the last quarter. Newbridge Financial Services Group Inc. raised its holdings in NextEra Energy Partners by 46.0% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after purchasing an additional 532 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its holdings in NextEra Energy Partners by 4.6% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after purchasing an additional 581 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on NEP. UBS Group lowered their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Wednesday, June 12th. BMO Capital Markets lowered their target price on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Finally, BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective on the stock. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and an average price target of $30.08.

NextEra Energy Partners Trading Down 0.2 %

NYSE:NEP opened at $25.33 on Wednesday. The company has a market capitalization of $2.37 billion, a PE ratio of 8.30 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. NextEra Energy Partners, LP has a 52-week low of $20.17 and a 52-week high of $35.15. The stock has a fifty day simple moving average of $25.57 and a 200-day simple moving average of $28.07.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million during the quarter, compared to the consensus estimate of $365.54 million. During the same quarter in the previous year, the company posted $0.53 EPS. The firm’s revenue for the quarter was up 22.9% on a year-over-year basis. On average, equities research analysts expect that NextEra Energy Partners, LP will post 2.2 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. Investors of record on Tuesday, August 6th were paid a $0.905 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 annualized dividend and a yield of 14.29%. NextEra Energy Partners’s payout ratio is presently 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.