BNP Paribas Financial Markets Boosts Position in NextEra Energy Partners, LP (NYSE:NEP)

BNP Paribas Financial Markets boosted its position in NextEra Energy Partners, LP (NYSE:NEP) by 20.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 25,543 shares of the solar energy provider’s stock after purchasing an additional 4,384 shares during the period. BNP Paribas Financial Markets’ holdings in NextEra Energy Partners were worth $705,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Ameritas Advisory Services LLC lifted its position 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 valued at $807,000 after purchasing an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC lifted its position in shares of NextEra Energy Partners by 2.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after buying an additional 433 shares in the last quarter. Pathway Financial Advisers LLC grew its stake in shares of NextEra Energy Partners by 0.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock valued at $1,336,000 after acquiring an additional 454 shares during the period. 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 acquiring an additional 509 shares in the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its holdings in NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after acquiring an additional 581 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

NEP has been the topic of several research analyst reports. UBS Group lowered their price objective on 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. Scotiabank lowered their price target on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday. CIBC cut their price objective on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Barclays reissued an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Finally, Evercore ISI cut their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy Partners presently has an average rating of “Hold” and an average price target of $26.00.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock opened at $17.63 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. NextEra Energy Partners, LP has a one year low of $15.55 and a one year high of $35.15. The stock’s 50 day moving average price is $20.06 and its 200 day moving average price is $24.73. The firm has a market capitalization of $1.65 billion, a PE ratio of 8.08 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. NextEra Energy Partners’s revenue was up 3.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.57 EPS. As a group, sell-side analysts expect that NextEra Energy Partners, LP will post 1.41 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a yield of 20.82%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is presently 168.35%.

NextEra Energy Partners 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.