State of New Jersey Common Pension Fund D Has $3.31 Million Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

State of New Jersey Common Pension Fund D raised its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 99.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 108,899 shares of the solar energy provider’s stock after buying an additional 54,274 shares during the quarter. State of New Jersey Common Pension Fund D owned 0.12% of NextEra Energy Partners worth $3,312,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. CWM LLC grew its holdings in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. MV Capital Management Inc. acquired a new stake in shares of NextEra Energy Partners in the 4th quarter valued at $30,000. Parkside Financial Bank & Trust increased its stake in shares of NextEra Energy Partners by 60.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 454 shares during the period. ORG Partners LLC increased its stake in shares of NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 670 shares during the period. Finally, CI Investments Inc. grew its stake in shares of NextEra Energy Partners by 1,418.2% during the third quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock worth $55,000 after purchasing an additional 1,716 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NextEra Energy Partners stock opened at $28.93 on Friday. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The business has a 50-day moving average price of $28.33 and a two-hundred day moving average price of $27.43. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $63.89. The company has a market cap of $2.71 billion, a P/E ratio of 9.49 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The company had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. During the same period last year, the business posted ($0.17) EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, analysts anticipate that NextEra Energy Partners, LP will post 1.33 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be given a $0.8925 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. This represents a $3.57 annualized dividend and a yield of 12.34%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 115.41%.

Wall Street Analysts Forecast Growth

NEP has been the topic of several recent analyst reports. Evercore ISI initiated coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 target price on the stock. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Barclays initiated coverage on NextEra Energy Partners in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 target price for the company. Finally, CIBC cut NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a research note on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners has an average rating of “Hold” and a consensus price target of $43.88.

NextEra Energy Partners 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.