NextEra Energy Partners, LP (NYSE:NEP) Shares Bought by Creative Planning

Creative Planning raised its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 15.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,307 shares of the solar energy provider’s stock after buying an additional 1,490 shares during the period. Creative Planning’s holdings in NextEra Energy Partners were worth $313,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Fred Alger Management LLC purchased a new stake in NextEra Energy Partners during the 2nd quarter worth about $5,452,000. Aristeia Capital L.L.C. acquired a new stake in shares of NextEra Energy Partners during the second quarter worth about $520,000. Marshall Wace LLP acquired a new stake in shares of NextEra Energy Partners during the second quarter worth about $638,000. EverSource Wealth Advisors LLC acquired a new stake in shares of NextEra Energy Partners during the second quarter worth about $51,000. Finally, Garner Asset Management Corp increased its position in shares of NextEra Energy Partners by 8.1% during the second quarter. Garner Asset Management Corp now owns 25,250 shares of the solar energy provider’s stock worth $698,000 after purchasing an additional 1,900 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. BMO Capital Markets dropped 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. Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. Barclays restated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. Finally, Mizuho dropped their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Five equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.54.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $26.02 on Friday. The firm has a market cap of $2.43 billion, a P/E ratio of 8.53 and a beta of 1.06. NextEra Energy Partners, LP has a twelve month low of $21.70 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 firm’s 50-day simple moving average is $25.62 and its 200-day simple moving average is $27.92.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping 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 during the quarter, compared to the consensus estimate of $365.54 million. During the same period in the previous year, the firm posted $0.53 earnings per share. NextEra Energy Partners’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, research analysts expect that NextEra Energy Partners, LP will post 2.2 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were issued a $0.905 dividend. This represents a $3.62 annualized dividend and a dividend yield of 13.91%. The ex-dividend date of this dividend was Tuesday, August 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. 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.