23,085 Shares in NextEra Energy Partners, LP (NYSE:NEP) Purchased by Marshall Wace LLP

Marshall Wace LLP acquired a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 23,085 shares of the solar energy provider’s stock, valued at approximately $638,000.

Other hedge funds also recently bought and sold shares of the company. Ameritas Advisory Services LLC raised its holdings in shares of NextEra Energy Partners by 1.4% during the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after acquiring an additional 412 shares during the period. Arizona State Retirement System raised its stake in NextEra Energy Partners by 2.0% during the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after purchasing an additional 509 shares during the period. Newbridge Financial Services Group Inc. lifted its holdings in shares of NextEra Energy Partners by 46.0% in the fourth quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock valued at $51,000 after purchasing an additional 532 shares in the last quarter. Jaffetilchin Investment Partners LLC boosted its position in shares of NextEra Energy Partners by 4.6% in the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after buying an additional 581 shares during the period. Finally, Hexagon Capital Partners LLC grew its holdings in shares of NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after buying an additional 627 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Down 0.2 %

Shares of NEP stock opened at $25.33 on Wednesday. The stock’s 50 day simple moving average is $25.57 and its 200 day simple moving average is $28.07. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $35.15. 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 market capitalization of $2.37 billion, a price-to-earnings ratio of 8.30 and a beta of 1.06.

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, 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 net margin of 24.42% and a negative return on equity of 0.40%. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.53 earnings per share. As a group, research analysts predict that NextEra Energy Partners, LP will post 2.2 EPS for the current 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 issued a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a yield of 14.29%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is 118.69%.

Wall Street Analysts Forecast Growth

NEP has been the subject of a number of research reports. Royal Bank of Canada lowered NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. BMO Capital Markets cut their target price on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Jefferies Financial Group initiated coverage on shares of NextEra Energy Partners in a report on Thursday, September 19th. They set a “buy” rating and a $28.00 price target on the stock. Finally, Barclays reiterated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $30.08.

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.