EP Wealth Advisors LLC Has $9.08 Million Stake in NextEra Energy Partners, LP (NYSE:NEP)

EP Wealth Advisors LLC lowered its stake in NextEra Energy Partners, LP (NYSE:NEP) by 0.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 328,395 shares of the solar energy provider’s stock after selling 1,904 shares during the period. EP Wealth Advisors LLC owned 0.35% of NextEra Energy Partners worth $9,077,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Richardson Financial Services Inc. bought a new stake in shares of NextEra Energy Partners during the fourth quarter worth $27,000. Hexagon Capital Partners LLC lifted its position in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares during the period. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners during the 1st quarter valued at about $36,000. FinTrust Capital Advisors LLC bought a new position in shares of NextEra Energy Partners in the 1st quarter valued at about $45,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after buying an additional 1,000 shares during the period. Institutional investors own 66.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. BMO Capital Markets cut their price objective on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. UBS Group decreased 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. Barclays downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $32.00 to $25.00 in a report on Thursday, June 13th. Finally, Jefferies Financial Group initiated coverage on NextEra Energy Partners in a report on Thursday, September 19th. They set a “buy” rating and a $28.00 target price on the stock. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $31.36.

NextEra Energy Partners Trading Down 1.8 %

Shares of NYSE:NEP opened at $27.61 on Tuesday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 9.05 and a beta of 1.05. NextEra Energy Partners, LP has a 12 month low of $20.17 and a 12 month high of $35.15. The company’s fifty day simple moving average is $25.67 and its 200 day simple moving average is $28.15. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.53 earnings per share. As a group, research analysts forecast that NextEra Energy Partners, LP will post 2.2 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.905 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 13.11%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is 118.69%.

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.