GSA Capital Partners LLP Boosts Position in NextEra Energy Partners, LP (NYSE:NEP)

GSA Capital Partners LLP lifted its position in NextEra Energy Partners, LP (NYSE:NEP) by 266.8% during the third quarter, HoldingsChannel reports. The institutional investor owned 45,856 shares of the solar energy provider’s stock after purchasing an additional 33,353 shares during the period. GSA Capital Partners LLP’s holdings in NextEra Energy Partners were worth $1,267,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. M&G Plc purchased a new stake in NextEra Energy Partners in the 1st quarter worth approximately $83,069,000. M&G PLC raised its position in shares of NextEra Energy Partners by 19.3% in the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after buying an additional 496,383 shares in the last quarter. Swedbank AB bought a new stake in NextEra Energy Partners during the first quarter valued at $9,927,000. ClearBridge Investments Ltd grew its position in NextEra Energy Partners by 6.4% during the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after buying an additional 250,456 shares in the last quarter. Finally, Fred Alger Management LLC bought a new position in NextEra Energy Partners in the 2nd quarter worth about $5,452,000. 66.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEP. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. CIBC decreased their price target on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Mizuho dropped their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.69.

NextEra Energy Partners Trading Up 1.9 %

Shares of NEP stock opened at $16.98 on Friday. The business has a 50-day moving average of $23.73 and a 200 day moving average of $26.80. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. NextEra Energy Partners, LP has a 1-year low of $15.55 and a 1-year high of $35.15. The stock has a market capitalization of $1.59 billion, a PE ratio of 7.79 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. During the same period last year, the company posted $0.57 EPS. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.41 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a yield of 21.61%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

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.