NextEra Energy Partners, LP (NYSE:NEP) Shares Purchased by Bowen Hanes & Co. Inc.

Bowen Hanes & Co. Inc. boosted its stake in NextEra Energy Partners, LP (NYSE:NEP) by 3.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 343,250 shares of the solar energy provider’s stock after buying an additional 10,650 shares during the period. Bowen Hanes & Co. Inc.’s holdings in NextEra Energy Partners were worth $26,211,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Strategic Blueprint LLC raised its holdings in NextEra Energy Partners by 31.9% in the 2nd quarter. Strategic Blueprint LLC now owns 6,552 shares of the solar energy provider’s stock valued at $500,000 after buying an additional 1,583 shares during the period. Steelhead Partners LLC purchased a new stake in NextEra Energy Partners in the 2nd quarter valued at about $1,199,000. Commonwealth Equity Services LLC raised its holdings in NextEra Energy Partners by 10.8% in the 2nd quarter. Commonwealth Equity Services LLC now owns 17,528 shares of the solar energy provider’s stock valued at $1,338,000 after buying an additional 1,704 shares during the period. Great West Life Assurance Co. Can raised its holdings in NextEra Energy Partners by 99.2% in the 2nd quarter. Great West Life Assurance Co. Can now owns 8,904 shares of the solar energy provider’s stock valued at $680,000 after buying an additional 4,434 shares during the period. Finally, Otter Creek Advisors LLC raised its holdings in NextEra Energy Partners by 23.4% in the 2nd quarter. Otter Creek Advisors LLC now owns 64,390 shares of the solar energy provider’s stock valued at $4,917,000 after buying an additional 12,221 shares during the period. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Shares of NEP stock traded up $0.06 during trading hours on Thursday, reaching $79.13. 1,553 shares of the stock were exchanged, compared to its average volume of 601,743. The business’s fifty day moving average is $78.54 and its two-hundred day moving average is $74.30. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.42 and a quick ratio of 5.32. NextEra Energy Partners, LP has a 12-month low of $55.13 and a 12-month high of $88.29. The firm has a market capitalization of $6.06 billion, a P/E ratio of 23.86, a P/E/G ratio of 1.48 and a beta of 0.73.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Thursday, July 22nd. The solar energy provider reported ($0.96) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.58 by ($1.54). NextEra Energy Partners had a return on equity of 3.22% and a net margin of 26.18%. The firm had revenue of $253.00 million for the quarter, compared to analysts’ expectations of $335.19 million. During the same quarter in the previous year, the company posted $0.69 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. As a group, equities research analysts predict that NextEra Energy Partners, LP will post 2.92 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, August 5th were paid a dividend of $0.663 per share. This represents a $2.65 dividend on an annualized basis and a dividend yield of 3.35%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Wednesday, August 4th. NextEra Energy Partners’s dividend payout ratio is presently -327.16%.

Several brokerages recently issued reports on NEP. Zacks Investment Research lowered shares of NextEra Energy Partners from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a report on Wednesday, July 28th. KeyCorp assumed coverage on shares of NextEra Energy Partners in a research note on Monday. They set an “overweight” rating on the stock. Wells Fargo & Company reiterated an “overweight” rating and set a $74.03 price target (down from $92.00) on shares of NextEra Energy Partners in a research note on Monday, July 26th. Morgan Stanley boosted their price target on shares of NextEra Energy Partners from $63.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 20th. Finally, UBS Group assumed coverage on shares of NextEra Energy Partners in a research note on Thursday, August 26th. They set a “buy” rating and a $100.00 price target on the stock. Two equities research analysts have rated the stock with a sell rating, three have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $80.20.

About NextEra Energy Partners

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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

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