Tiedemann Wealth Management LLC Raises Position in NextEra Energy Partners, LP (NEP)
Tiedemann Wealth Management LLC increased its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 5.5% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 275,804 shares of the solar energy provider’s stock after acquiring an additional 14,480 shares during the period. NextEra Energy Partners comprises about 1.3% of Tiedemann Wealth Management LLC’s portfolio, making the stock its 15th biggest position. Tiedemann Wealth Management LLC owned about 0.51% of NextEra Energy Partners worth $10,967,000 at the end of the most recent reporting period.
Other hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. lifted its holdings in NextEra Energy Partners by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 231,951 shares of the solar energy provider’s stock worth $7,685,000 after buying an additional 4,021 shares during the period. BlackRock Inc. lifted its holdings in NextEra Energy Partners by 11,623.3% during the 1st quarter. BlackRock Inc. now owns 2,968,450 shares of the solar energy provider’s stock worth $98,346,000 after buying an additional 2,943,129 shares during the period. Credit Suisse AG lifted its holdings in NextEra Energy Partners by 1.8% during the 1st quarter. Credit Suisse AG now owns 44,883 shares of the solar energy provider’s stock worth $1,487,000 after buying an additional 772 shares during the period. Bank of Montreal Can acquired a new position in NextEra Energy Partners during the 2nd quarter worth about $1,922,000. Finally, US Bancorp DE lifted its holdings in NextEra Energy Partners by 2,000.0% during the 2nd 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. Institutional investors and hedge funds own 83.48% of the company’s stock.
Several research analysts have commented on the company. ValuEngine downgraded NextEra Energy Partners from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Royal Bank Of Canada reaffirmed a “hold” rating and set a $39.00 target price on shares of NextEra Energy Partners in a report on Tuesday, October 10th. J P Morgan Chase & Co cut their target price on NextEra Energy Partners from $39.00 to $38.00 and set a “neutral” rating on the stock in a report on Thursday, October 12th. Zacks Investment Research downgraded NextEra Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, September 29th. Finally, TheStreet downgraded NextEra Energy Partners from a “b” rating to a “c+” rating in a report on Thursday, October 26th. Two analysts have rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $39.11.
Shares of NextEra Energy Partners, LP (NEP) traded down $0.29 during trading hours on Wednesday, hitting $38.00. The stock had a trading volume of 151,900 shares, compared to its average volume of 274,964. The firm has a market cap of $2,100.60, a P/E ratio of 28.06, a price-to-earnings-growth ratio of 3.96 and a beta of 1.22. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.20 and a quick ratio of 3.20. NextEra Energy Partners, LP has a 12 month low of $23.90 and a 12 month high of $44.00.
NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Thursday, October 26th. The solar energy provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.36). The business had revenue of $177.00 million during the quarter, compared to analyst estimates of $243.16 million. NextEra Energy Partners had a net margin of 10.38% and a return on equity of 3.57%. research analysts predict that NextEra Energy Partners, LP will post 0.91 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a $0.3925 dividend. This represents a $1.57 dividend on an annualized basis and a dividend yield of 4.13%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.38. The ex-dividend date of this dividend was Friday, November 3rd. NextEra Energy Partners’s payout ratio is currently 113.77%.
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NextEra Energy Partners 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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