Aristeia Capital L.L.C. Takes $520,000 Position in NextEra Energy Partners, LP (NYSE:NEP)

Aristeia Capital L.L.C. acquired a new position in NextEra Energy Partners, LP (NYSE:NEP) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 18,828 shares of the solar energy provider’s stock, valued at approximately $520,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. ClearBridge Investments Ltd lifted its position in shares of NextEra Energy Partners by 6.4% during the 1st quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after buying an additional 250,456 shares in the last quarter. M&G Plc purchased a new position in NextEra Energy Partners during the first quarter valued at approximately $83,069,000. 1832 Asset Management L.P. increased its stake in shares of NextEra Energy Partners by 599.4% in the fourth quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock worth $79,142,000 after purchasing an additional 2,230,374 shares in the last quarter. Cbre Investment Management Listed Real Assets LLC increased its stake in shares of NextEra Energy Partners by 23.2% in the fourth quarter. Cbre Investment Management Listed Real Assets LLC now owns 1,087,066 shares of the solar energy provider’s stock worth $33,058,000 after purchasing an additional 204,845 shares in the last quarter. Finally, Raymond James & Associates lifted its stake in shares of NextEra Energy Partners by 6.2% during the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after buying an additional 46,718 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Analysts Set New Price Targets

NEP has been the subject of a number of analyst reports. Morgan Stanley lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the stock from $31.00 to $20.00 in a research note on Wednesday, July 31st. Raymond James downgraded NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Jefferies Financial Group began coverage on shares of NextEra Energy Partners in a research report on Thursday, September 19th. They set a “buy” rating and a $28.00 price objective on the stock. Finally, Royal Bank of Canada downgraded shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their target price for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Four analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and an average target price of $32.67.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $27.12 on Tuesday. The firm has a market capitalization of $2.54 billion, a price-to-earnings ratio of 8.89 and a beta of 1.05. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The business has a 50 day simple moving average of $25.64 and a 200-day simple moving average of $28.19. NextEra Energy Partners, LP has a 1 year low of $20.17 and a 1 year high of $48.89.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. Equities 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 disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a $0.905 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a yield of 13.35%. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is 118.69%.

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.