Significant Wealth Partners LLC Takes $338,000 Position in NextEra Energy Partners, LP (NYSE:NEP)

Significant Wealth Partners LLC acquired a new stake in shares of NextEra Energy Partners, LP (NYSE:NEP) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 11,112 shares of the solar energy provider’s stock, valued at approximately $338,000.

Other institutional investors have also recently made changes to their positions in the company. CWM LLC grew its position in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after acquiring an additional 511 shares in the last quarter. MV Capital Management Inc. bought a new stake in shares of NextEra Energy Partners during the fourth quarter valued at approximately $30,000. ORG Partners LLC raised its stake in shares of NextEra Energy Partners by 120.3% during the third quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 670 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in shares of NextEra Energy Partners by 60.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 454 shares in the last quarter. Finally, CI Investments Inc. raised its stake in NextEra Energy Partners by 1,418.2% in the third quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock worth $55,000 after buying an additional 1,716 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 1.3 %

Shares of NextEra Energy Partners stock opened at $27.48 on Tuesday. The firm has a 50-day simple moving average of $28.31 and a two-hundred day simple moving average of $27.26. The company has a market cap of $2.57 billion, a P/E ratio of 12.90 and a beta of 1.00. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $64.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). The firm had revenue of $232.00 million during the quarter, compared to analyst estimates of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. As a group, equities analysts predict that NextEra Energy Partners, LP will post 0.9 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a dividend yield of 12.81%. The ex-dividend date of this dividend was Monday, February 5th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is 165.26%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Evercore ISI initiated coverage on shares of NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price objective on the stock. Barclays initiated coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price objective on the stock. Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Finally, Raymond James dropped their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, NextEra Energy Partners has an average rating of “Hold” and an average target price of $43.88.

NextEra Energy Partners Company Profile

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.