NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by JPMorgan Chase & Co.

JPMorgan Chase & Co. decreased its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 87.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 109,544 shares of the solar energy provider’s stock after selling 753,413 shares during the quarter. JPMorgan Chase & Co. owned about 0.12% of NextEra Energy Partners worth $3,026,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NEP. Northwestern Mutual Wealth Management Co. grew its holdings in shares of NextEra Energy Partners by 150.4% during 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 buying an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners during the 2nd quarter valued at about $51,000. Eastern Bank purchased a new stake in NextEra Energy Partners during the 3rd quarter valued at about $57,000. McIlrath & Eck LLC acquired a new position in shares of NextEra Energy Partners in the third quarter valued at about $63,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of NextEra Energy Partners in the third quarter worth about $173,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $17.09 on Monday. The stock has a market capitalization of $1.60 billion, a P/E ratio of 7.84 and a beta of 1.06. The company’s fifty day moving average price is $17.53 and its 200 day moving average price is $22.39. 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 1 year low of $15.55 and a 1 year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. As a group, equities research analysts anticipate that NextEra Energy Partners, LP will post 2.04 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were issued a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 21.48%. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s payout ratio is currently 168.35%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Scotiabank cut their price target on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th. Guggenheim lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Mizuho decreased their target price on shares of 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. BMO Capital Markets reaffirmed a “market perform” rating and issued a $18.00 price target (down from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Finally, UBS Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $24.64.

About NextEra Energy Partners

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.