NextEra Energy Partners, LP (NYSE:NEP) Shares Bought by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. raised its position in NextEra Energy Partners, LP (NYSE:NEP) by 59.6% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 173,251 shares of the solar energy provider’s stock after purchasing an additional 64,673 shares during the quarter. Assenagon Asset Management S.A. owned about 0.19% of NextEra Energy Partners worth $3,084,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the company. M&G PLC increased its stake in shares of NextEra Energy Partners by 19.3% in the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after purchasing an additional 496,383 shares during the period. Redwood Grove Capital LLC increased its stake in shares of NextEra Energy Partners by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock valued at $27,129,000 after purchasing an additional 161,436 shares during the period. abrdn plc increased its stake in shares of NextEra Energy Partners by 6.2% in the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock valued at $23,483,000 after purchasing an additional 49,400 shares during the period. Rockefeller Capital Management L.P. increased its stake in shares of NextEra Energy Partners by 8.0% in the third quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider’s stock valued at $17,417,000 after purchasing an additional 46,728 shares during the period. Finally, Thrivent Financial for Lutherans acquired a new stake in shares of NextEra Energy Partners in the third quarter valued at approximately $16,186,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Stock Down 1.8 %

Shares of NYSE:NEP opened at $16.75 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The company has a market cap of $1.57 billion, a PE ratio of 7.68 and a beta of 1.06. NextEra Energy Partners, LP has a 52 week low of $15.55 and a 52 week high of $35.15. The firm has a 50 day simple moving average of $17.53 and a 200 day simple moving average of $22.32.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly 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 analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same quarter last year, the company posted $0.57 EPS. As a group, research analysts expect that NextEra Energy Partners, LP will post 2.06 earnings per share for the current year.

Analyst Upgrades and Downgrades

NEP has been the subject of several recent analyst reports. 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. Mizuho decreased their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and decreased their price objective for the company from $25.00 to $22.00 in a report on Thursday, October 24th. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $22.00 in a report on Monday, October 28th. Finally, UBS Group decreased their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus 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.