Canton Hathaway LLC Sells 3,700 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Canton Hathaway LLC decreased its position in NextEra Energy Partners, LP (NYSE:NEP) by 48.1% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 4,000 shares of the solar energy provider’s stock after selling 3,700 shares during the period. Canton Hathaway LLC’s holdings in NextEra Energy Partners were worth $122,000 as of its most recent filing with the SEC.

Other institutional investors have also recently bought and sold shares of the company. MV Capital Management Inc. bought a new stake in NextEra Energy Partners in the 4th quarter valued at approximately $30,000. ORG Partners LLC increased its position in shares of NextEra Energy Partners by 120.3% during the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 670 shares during the last quarter. Parkside Financial Bank & Trust increased its position in shares of NextEra Energy Partners by 60.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 454 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of NextEra Energy Partners during the 1st quarter worth approximately $36,000. Finally, Lazard Asset Management LLC increased its position in shares of NextEra Energy Partners by 69.6% during the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock worth $45,000 after purchasing an additional 224 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

Shares of NYSE:NEP traded down $0.48 during trading on Monday, reaching $27.07. 1,819,820 shares of the company traded hands, compared to its average volume of 1,365,682. The company’s 50 day moving average is $28.41 and its two-hundred day moving average is $27.22. The firm has a market capitalization of $2.53 billion, a PE ratio of 12.65 and a beta of 1.00. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a 52 week low of $20.17 and a 52 week high of $64.43.

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

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 13.00%. The ex-dividend date was Monday, February 5th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is presently 165.26%.

Analyst Upgrades and Downgrades

NEP has been the topic of several recent analyst reports. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price on the stock. in a report on Tuesday, January 9th. Barclays assumed coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. 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 stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $45.53.

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, 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.