Rockefeller Capital Management L.P. Raises Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Rockefeller Capital Management L.P. increased its position in NextEra Energy Partners, LP (NYSE:NEP) by 8.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 630,588 shares of the solar energy provider’s stock after buying an additional 46,728 shares during the quarter. Rockefeller Capital Management L.P. owned about 0.67% of NextEra Energy Partners worth $17,417,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. M&G PLC raised its position in shares of NextEra Energy Partners by 19.3% in the 3rd 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 during the period. Thrivent Financial for Lutherans acquired a new stake in NextEra Energy Partners in the 3rd quarter valued at $16,186,000. International Assets Investment Management LLC increased its holdings in NextEra Energy Partners by 2,514.3% in the 3rd quarter. International Assets Investment Management LLC now owns 98,142 shares of the solar energy provider’s stock valued at $2,711,000 after purchasing an additional 94,388 shares in the last quarter. Vanguard Group Inc. increased its holdings in NextEra Energy Partners by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after purchasing an additional 22,370 shares in the last quarter. Finally, Marshall Wace LLP acquired a new stake in NextEra Energy Partners in the 2nd quarter valued at $638,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $17.47 on Monday. The company has a market capitalization of $1.63 billion, a price-to-earnings ratio of 8.01 and a beta of 1.10. NextEra Energy Partners, LP has a one year low of $15.55 and a one year high of $35.15. The stock has a 50-day simple moving average of $21.67 and a 200 day simple moving average of $25.59. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. Sell-side analysts predict that NextEra Energy Partners, LP will post 1.36 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a yield of 21.01%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 168.35%.

Analyst Ratings Changes

Several analysts recently issued reports on NEP shares. Jefferies Financial Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 24th. BNP Paribas started coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target for the company. Mizuho lowered their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. BMO Capital Markets lowered their price target on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Finally, CIBC lowered their price target on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $26.69.

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.