Bank of New York Mellon Corp lowered its holdings in Nextera Energy Partners LP (NYSE:NEP) by 12.3% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 955,790 shares of the solar energy provider’s stock after selling 133,797 shares during the period. Bank of New York Mellon Corp owned approximately 1.76% of Nextera Energy Partners worth $44,608,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Morgan Stanley raised its holdings in shares of Nextera Energy Partners by 1.6% in the 2nd quarter. Morgan Stanley now owns 762,544 shares of the solar energy provider’s stock valued at $35,589,000 after acquiring an additional 11,685 shares in the last quarter. Jane Street Group LLC purchased a new stake in shares of Nextera Energy Partners in the 2nd quarter valued at about $228,000. First Republic Investment Management Inc. purchased a new stake in shares of Nextera Energy Partners in the 2nd quarter valued at about $836,000. Natixis raised its holdings in shares of Nextera Energy Partners by 35.0% in the 2nd quarter. Natixis now owns 82,527 shares of the solar energy provider’s stock valued at $3,852,000 after acquiring an additional 21,394 shares in the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in shares of Nextera Energy Partners in the 2nd quarter valued at about $1,948,000. 80.21% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Nextera Energy Partners stock opened at $46.64 on Tuesday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 5.54 and a current ratio of 5.54. The stock has a market cap of $2.66 billion, a PE ratio of 70.67, a PEG ratio of 1.69 and a beta of 1.17. Nextera Energy Partners LP has a 12 month low of $36.84 and a 12 month high of $50.66.

Nextera Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Tuesday, October 23rd. The solar energy provider reported $0.58 EPS for the quarter, beating the consensus estimate of $0.45 by $0.13. The firm had revenue of $178.00 million for the quarter, compared to analyst estimates of $283.40 million. Nextera Energy Partners had a return on equity of 7.34% and a net margin of 13.55%. Research analysts forecast that Nextera Energy Partners LP will post 3.11 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Tuesday, November 6th were given a dividend of $0.45 per share. The ex-dividend date was Monday, November 5th. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.44. This represents a $1.80 annualized dividend and a dividend yield of 3.86%. Nextera Energy Partners’s dividend payout ratio is 272.73%.

Several research firms have weighed in on NEP. Zacks Investment Research cut Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, October 29th. Bank of America cut Nextera Energy Partners from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Wells Fargo & Co raised their price target on Nextera Energy Partners from $50.00 to $55.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Morgan Stanley raised their price target on Nextera Energy Partners from $50.00 to $51.00 and gave the company a “hold” rating in a report on Tuesday, September 11th. Finally, Mizuho began coverage on Nextera Energy Partners in a report on Monday, August 13th. They issued a “buy” rating and a $54.50 price target on the stock. Seven investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $47.50.

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About Nextera Energy Partners

NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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Institutional Ownership by Quarter for Nextera Energy Partners (NYSE:NEP)

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