22,103 Shares in NextEra Energy Partners, LP (NYSE:NEP) Acquired by Sanctuary Advisors LLC

Sanctuary Advisors LLC bought a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 22,103 shares of the solar energy provider’s stock, valued at approximately $639,000.

A number of other large investors have also recently made changes to their positions in the company. Richardson Financial Services Inc. purchased a new position in NextEra Energy Partners in the fourth quarter valued at approximately $27,000. B. Riley Wealth Advisors Inc. increased its stake in NextEra Energy Partners by 15.5% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 8,763 shares of the solar energy provider’s stock valued at $266,000 after purchasing an additional 1,179 shares during the last quarter. Newbridge Financial Services Group Inc. increased its stake in NextEra Energy Partners by 46.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock valued at $51,000 after purchasing an additional 532 shares during the last quarter. Walnut Private Equity Partners LLC increased its stake in NextEra Energy Partners by 13.0% in the first quarter. Walnut Private Equity Partners LLC now owns 130,000 shares of the solar energy provider’s stock valued at $3,910,000 after purchasing an additional 15,000 shares during the last quarter. Finally, &PARTNERS increased its stake in NextEra Energy Partners by 393.7% in the first quarter. &PARTNERS now owns 12,220 shares of the solar energy provider’s stock valued at $368,000 after purchasing an additional 9,745 shares during the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

NEP has been the topic of a number of research reports. Mizuho lowered their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Barclays restated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research report on Friday, October 4th. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Finally, Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $29.54.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $25.94 on Tuesday. NextEra Energy Partners, LP has a 1-year low of $21.57 and a 1-year high of $35.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The stock has a fifty day moving average price of $25.52 and a 200 day moving average price of $28.00. The company has a market cap of $2.43 billion, a PE ratio of 8.51 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $365.54 million. During the same quarter last year, the company earned $0.53 earnings per share. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. Sell-side analysts forecast that NextEra Energy Partners, LP will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a $0.905 dividend. The ex-dividend date was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 13.96%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio (DPR) 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.