SeaCrest Wealth Management LLC Makes New Investment in NextEra Energy Partners, LP (NYSE:NEP)

SeaCrest Wealth Management LLC bought a new position in NextEra Energy Partners, LP (NYSE:NEP) during the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 12,319 shares of the solar energy provider’s stock, valued at approximately $219,000.

Several other institutional investors and hedge funds have also bought and sold shares of NEP. EverSource Wealth Advisors LLC purchased a new stake in NextEra Energy Partners in the 2nd quarter worth approximately $51,000. Marshall Wace LLP purchased a new stake in NextEra Energy Partners in the 2nd quarter worth approximately $638,000. Aristeia Capital L.L.C. purchased a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at $520,000. Fred Alger Management LLC purchased a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at $5,452,000. Finally, Creative Planning raised its position in shares of NextEra Energy Partners by 15.2% during the 2nd quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock valued at $313,000 after buying an additional 1,490 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEP has been the topic of several research reports. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $37.00 to $22.00 in a research report on Monday, October 28th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective on the stock. Evercore ISI lowered their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Scotiabank lowered their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 12th. Finally, CIBC lowered their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $24.64.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $17.09 on Friday. The firm has a market cap of $1.60 billion, a PE ratio of 7.84 and a beta of 1.06. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $17.53 and its two-hundred day simple moving average is $22.42.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. NextEra Energy Partners’s revenue was up 3.6% on a year-over-year basis. During the same period last year, the business earned $0.57 EPS. As a group, equities analysts expect that NextEra Energy Partners, LP will post 2.04 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a yield of 21.48%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

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.