Abundance Wealth Counselors Sells 2,148 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Abundance Wealth Counselors decreased its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 3.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 64,558 shares of the solar energy provider’s stock after selling 2,148 shares during the quarter. Abundance Wealth Counselors’ holdings in NextEra Energy Partners were worth $1,149,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. M&G PLC raised its holdings 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 valued at $85,738,000 after buying an additional 496,383 shares during the last quarter. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT bought a new position in shares of NextEra Energy Partners in the fourth quarter worth about $21,449,000. Redwood Grove Capital LLC raised its stake in shares of NextEra Energy Partners by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after acquiring an additional 161,436 shares during the last quarter. abrdn plc lifted its position in shares of NextEra Energy Partners by 6.2% during the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock worth $23,483,000 after purchasing an additional 49,400 shares in the last quarter. Finally, Rockefeller Capital Management L.P. grew its stake in shares of NextEra Energy Partners by 8.0% during the third quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider’s stock valued at $17,417,000 after purchasing an additional 46,728 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEP. Scotiabank dropped their price objective on shares of NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Wednesday. Morgan Stanley upgraded NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research report on Monday, December 2nd. Barclays reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. BMO Capital Markets reissued a “market perform” rating and set a $18.00 price objective (down from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Finally, CIBC reduced their target price on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $22.07.

NextEra Energy Partners Trading Up 1.1 %

NEP opened at $10.56 on Friday. The company has a fifty day simple moving average of $17.07 and a 200 day simple moving average of $21.56. 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, LP has a 12 month low of $9.98 and a 12 month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a positive return on equity of 1.34% and a negative net margin of 0.73%. On average, analysts predict that NextEra Energy Partners, LP will post 1.54 EPS for the current fiscal year.

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.