NN Investment Partners Holdings N.V. acquired a new stake in Nextera Energy Partners LP (NYSE:NEP) in the 2nd quarter, Holdings Channel reports. The firm acquired 3,012 shares of the solar energy provider’s stock, valued at approximately $154,000.
Other institutional investors and hedge funds have also bought and sold shares of the company. CWM LLC bought a new stake in shares of Nextera Energy Partners in the first quarter valued at approximately $31,000. Endurance Wealth Management Inc. bought a new stake in shares of Nextera Energy Partners in the second quarter valued at approximately $36,000. Financial Management Professionals Inc. bought a new stake in shares of Nextera Energy Partners in the second quarter valued at approximately $42,000. Ladenburg Thalmann Financial Services Inc. raised its stake in shares of Nextera Energy Partners by 36.0% in the fourth quarter. Ladenburg Thalmann Financial Services Inc. now owns 887 shares of the solar energy provider’s stock valued at $46,000 after purchasing an additional 235 shares in the last quarter. Finally, Spirit of America Management Corp NY acquired a new position in shares of Nextera Energy Partners in the second quarter valued at $51,000. 82.66% of the stock is owned by institutional investors.
A number of research analysts recently commented on NEP shares. ValuEngine lowered Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Thursday, April 23rd. TheStreet upgraded Nextera Energy Partners from a “c+” rating to a “b” rating in a research note on Friday, July 24th. Royal Bank of Canada restated a “hold” rating and issued a $50.00 target price on shares of Nextera Energy Partners in a research note on Wednesday, May 6th. Credit Suisse Group cut their target price on Nextera Energy Partners from $58.00 to $54.00 and set an “outperform” rating for the company in a research note on Tuesday, April 21st. Finally, Goldman Sachs Group upgraded Nextera Energy Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $63.00 to $65.00 in a research note on Tuesday, June 30th. Five investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $58.71.
Shares of NYSE:NEP opened at $62.20 on Friday. Nextera Energy Partners LP has a twelve month low of $29.01 and a twelve month high of $63.26. The firm has a market cap of $4.08 billion, a PE ratio of -18.24 and a beta of 1.11. The company has a debt-to-equity ratio of 0.69, a quick ratio of 1.55 and a current ratio of 1.46. The business has a fifty day moving average of $54.57 and a 200-day moving average of $51.67.
Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Friday, July 24th. The solar energy provider reported $0.69 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.36 by $0.33. Nextera Energy Partners had a negative return on equity of 2.11% and a negative net margin of 14.18%. The company had revenue of $253.00 million during the quarter, compared to analyst estimates of $337.58 million. During the same period last year, the company posted ($0.49) earnings per share. The firm’s quarterly revenue was up 15.5% compared to the same quarter last year. On average, analysts anticipate that Nextera Energy Partners LP will post -1.64 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, August 14th. Stockholders of record on Thursday, August 6th will be paid a $0.5775 dividend. The ex-dividend date is Wednesday, August 5th. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.56. This represents a $2.31 dividend on an annualized basis and a dividend yield of 3.71%. Nextera Energy Partners’s dividend payout ratio (DPR) is -147.02%.
About Nextera Energy Partners
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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