B. Riley Wealth Advisors Inc. Buys 3,064 Shares of NextEra Energy Partners, LP (NYSE:NEP)

B. Riley Wealth Advisors Inc. raised its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 40.4% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,648 shares of the solar energy provider’s stock after purchasing an additional 3,064 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in NextEra Energy Partners were worth $294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of NEP. Ameritas Advisory Services LLC raised its position in shares of NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after buying an additional 412 shares in the last quarter. Arizona State Retirement System lifted its stake in NextEra Energy Partners by 2.0% during the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares during the last quarter. Newbridge Financial Services Group Inc. increased its position in shares of NextEra Energy Partners by 46.0% during the 4th 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 during the last quarter. Jaffetilchin Investment Partners LLC raised its holdings in shares of NextEra Energy Partners by 4.6% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock valued at $362,000 after buying an additional 581 shares in the last quarter. Finally, Hexagon Capital Partners LLC lifted its position in NextEra Energy Partners by 208.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after buying an additional 627 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Wall Street Analyst Weigh In

NEP has been the topic of a number of recent research reports. Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Wednesday, June 12th. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. BMO Capital Markets reduced their price target on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Finally, Morgan Stanley downgraded 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. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $30.08.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $25.33 on Wednesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. NextEra Energy Partners, LP has a 1 year low of $20.17 and a 1 year high of $35.15. The company’s 50-day moving average is $25.57 and its 200 day moving average is $28.07. The stock has a market capitalization of $2.37 billion, a P/E ratio of 8.30 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $360.00 million during 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 business’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.53 EPS. On average, sell-side analysts expect that NextEra Energy Partners, LP will post 2.2 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed 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 annualized dividend and a yield of 14.29%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 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.