NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by 1832 Asset Management L.P.

1832 Asset Management L.P. trimmed its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 5.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,811,811 shares of the solar energy provider’s stock after selling 96,772 shares during the quarter. 1832 Asset Management L.P. owned approximately 1.94% of NextEra Energy Partners worth $50,078,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. UBS Group AG raised its position in shares of NextEra Energy Partners by 12.9% in the fourth quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock worth $10,215,000 after acquiring an additional 38,363 shares during the period. Clearbridge Investments LLC acquired a new position in NextEra Energy Partners in the 4th quarter worth about $6,818,000. Trexquant Investment LP acquired a new position in NextEra Energy Partners in the 4th quarter worth about $1,852,000. Franklin Resources Inc. boosted its position in NextEra Energy Partners by 100.2% during the fourth quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock worth $948,000 after purchasing an additional 15,604 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in NextEra Energy Partners in the fourth quarter valued at approximately $267,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Performance

NYSE:NEP opened at $27.03 on Monday. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $48.89. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The company has a 50 day moving average price of $25.64 and a 200 day moving average price of $28.20. The stock has a market capitalization of $2.53 billion, a P/E ratio of 8.86 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping the consensus estimate 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 business had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same period last year, the business posted $0.53 earnings per share. The company’s quarterly revenue was up 22.9% on a year-over-year basis. Equities research analysts forecast that NextEra Energy Partners, LP will post 1.74 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a $0.905 dividend. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.39%. The ex-dividend date was Tuesday, August 6th. NextEra Energy Partners’s payout ratio is currently 118.69%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on NEP shares. BMO Capital Markets reduced their target price on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Wolfe Research downgraded shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Wednesday, June 12th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $32.67.

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.