Adell Harriman & Carpenter Inc. Sells 72,568 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Adell Harriman & Carpenter Inc. cut its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 87.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 10,581 shares of the solar energy provider’s stock after selling 72,568 shares during the quarter. Adell Harriman & Carpenter Inc.’s holdings in NextEra Energy Partners were worth $322,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ClearBridge Investments Ltd grew its holdings in NextEra Energy Partners by 64.4% during the third quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock worth $106,425,000 after buying an additional 1,404,318 shares in the last quarter. FMR LLC grew its position in NextEra Energy Partners by 18.9% in the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock worth $144,506,000 after purchasing an additional 774,665 shares in the last quarter. Redwood Grove Capital LLC increased its stake in NextEra Energy Partners by 231.3% in the 3rd quarter. Redwood Grove Capital LLC now owns 541,592 shares of the solar energy provider’s stock valued at $16,085,000 after buying an additional 378,095 shares during the last quarter. Advisors Capital Management LLC lifted its position in shares of NextEra Energy Partners by 278.3% during the 3rd quarter. Advisors Capital Management LLC now owns 449,442 shares of the solar energy provider’s stock worth $13,348,000 after buying an additional 330,639 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its stake in shares of NextEra Energy Partners by 1,557.8% in the 3rd quarter. EP Wealth Advisors LLC now owns 319,287 shares of the solar energy provider’s stock worth $9,483,000 after buying an additional 300,027 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock traded down $0.15 during mid-day trading on Tuesday, reaching $29.03. 227,099 shares of the company’s stock traded hands, compared to its average volume of 1,368,797. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $63.89. The stock has a 50 day moving average of $28.34 and a two-hundred day moving average of $27.56. The company has a market cap of $2.72 billion, a price-to-earnings ratio of 9.57 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.63. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) earnings per share. Equities analysts forecast that NextEra Energy Partners, LP will post 1.54 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. The ex-dividend date is Monday, May 6th. This represents a $3.57 dividend on an annualized basis and a yield of 12.30%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is 115.41%.

Analyst Ratings Changes

A number of brokerages have issued reports on NEP. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Evercore ISI assumed coverage on shares of NextEra Energy Partners in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price objective for the company. Raymond James reduced their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. Finally, Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price target for the company. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $41.60.

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.