First Mercantile Trust Co. Decreases Stake in NextEra Energy Partners, LP (NEP)
First Mercantile Trust Co. lowered its stake in NextEra Energy Partners, LP (NYSE:NEP) by 32.6% during the second quarter, Holdings Channel reports. The institutional investor owned 26,062 shares of the solar energy provider’s stock after selling 12,585 shares during the period. First Mercantile Trust Co.’s holdings in NextEra Energy Partners, were worth $964,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently modified their holdings of the company. BNP Paribas Arbitrage SA purchased a new position in shares of NextEra Energy Partners, during the first quarter valued at about $139,000. US Bancorp DE boosted its position in NextEra Energy Partners, by 2,000.0% in the second quarter. US Bancorp DE now owns 4,200 shares of the solar energy provider’s stock worth $155,000 after buying an additional 4,000 shares during the period. Aveo Capital Partners LLC bought a new position in NextEra Energy Partners, during the first quarter worth $202,000. Venturi Wealth Management LLC bought a new position in NextEra Energy Partners, during the first quarter worth $207,000. Finally, Gilman Hill Asset Management LLC bought a new position in NextEra Energy Partners, during the second quarter worth $259,000. 85.26% of the stock is owned by hedge funds and other institutional investors.
NextEra Energy Partners, LP (NYSE NEP) opened at 38.30 on Friday. NextEra Energy Partners, LP has a 1-year low of $23.90 and a 1-year high of $41.49. The company has a 50-day moving average price of $38.70 and a 200 day moving average price of $34.26. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of 21.09 and a beta of 1.26.
NextEra Energy Partners, (NYSE:NEP) last released its earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.19. The business had revenue of $204 million during the quarter, compared to analysts’ expectations of $232.03 million. NextEra Energy Partners, had a net margin of 13.77% and a return on equity of 4.74%. Equities analysts anticipate that NextEra Energy Partners, LP will post $1.58 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Stockholders of record on Monday, August 7th will be issued a $0.38 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.97%. This is a positive change from NextEra Energy Partners,’s previous quarterly dividend of $0.37. NextEra Energy Partners,’s dividend payout ratio is presently 76.38%.
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A number of equities analysts have recently weighed in on NEP shares. Vetr raised NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $37.00 price target for the company in a report on Monday, May 15th. BidaskClub cut NextEra Energy Partners, from a “strong-buy” rating to a “buy” rating in a report on Saturday, July 1st. Barclays PLC reissued an “overweight” rating and issued a $39.00 price target (up from $34.00) on shares of NextEra Energy Partners, in a report on Sunday, April 23rd. Zacks Investment Research cut NextEra Energy Partners, from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Finally, Royal Bank Of Canada reissued a “hold” rating and issued a $38.00 price target (up from $34.00) on shares of NextEra Energy Partners, in a report on Friday, July 7th. Five research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $38.57.
In other news, EVP Mark E. Hickson acquired 1,350 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was acquired at an average cost of $37.51 per share, for a total transaction of $50,638.50. Following the completion of the acquisition, the executive vice president now owns 4,780 shares in the company, valued at $179,297.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Armando Pimentel, Jr. acquired 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 14th. The shares were purchased at an average price of $38.23 per share, with a total value of $191,150.00. Following the completion of the acquisition, the insider now owns 20,000 shares of the company’s stock, valued at approximately $764,600. The disclosure for this purchase can be found here. 0.46% of the stock is owned by corporate insiders.
NextEra Energy Partners, Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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