Barclays PLC Has $589,000 Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Barclays PLC boosted its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 41.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 21,315 shares of the solar energy provider’s stock after buying an additional 6,205 shares during the period. Barclays PLC’s holdings in NextEra Energy Partners were worth $589,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its position in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $51,000. Eastern Bank bought a new stake in shares of NextEra Energy Partners during the 3rd quarter valued at approximately $57,000. McIlrath & Eck LLC acquired a new position in NextEra Energy Partners during the 3rd quarter worth approximately $63,000. Finally, Future Financial Wealth Managment LLC bought a new position in NextEra Energy Partners in the 3rd quarter valued at approximately $173,000. 66.01% of the stock is owned by institutional investors.

NextEra Energy Partners Price Performance

NEP stock opened at $16.88 on Friday. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $17.54 and its 200 day simple moving average is $22.49. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The firm has a market cap of $1.58 billion, a price-to-earnings ratio of 7.74 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The firm’s revenue for the quarter was up 3.6% compared to the same quarter last year. On average, analysts expect that NextEra Energy Partners, LP will post 2.04 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 21.75%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is presently 168.35%.

Analyst Upgrades and Downgrades

NEP has been the topic of a number of research reports. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, October 24th. Mizuho dropped their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. BNP Paribas assumed coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target on the stock. Finally, Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Monday, December 2nd. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and an average price target of $24.64.

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.