Glenmede Trust Co. NA trimmed its stake in shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 8.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 46,710 shares of the solar energy provider's stock after selling 4,080 shares during the period. Glenmede Trust Co. NA owned about 0.05% of NextEra Energy Partners worth $3,377,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. NewEdge Wealth LLC raised its holdings in shares of NextEra Energy Partners by 24.2% during the second quarter. NewEdge Wealth LLC now owns 8,143 shares of the solar energy provider's stock worth $604,000 after acquiring an additional 1,589 shares during the period. TPG Financial Advisors LLC boosted its position in NextEra Energy Partners by 29.0% during the second quarter. TPG Financial Advisors LLC now owns 3,411 shares of the solar energy provider's stock valued at $253,000 after purchasing an additional 766 shares during the last quarter. Pacific Center for Financial Services boosted its position in NextEra Energy Partners by 56.5% during the second quarter. Pacific Center for Financial Services now owns 5,484 shares of the solar energy provider's stock valued at $407,000 after purchasing an additional 1,979 shares during the last quarter. Abundance Wealth Counselors boosted its position in NextEra Energy Partners by 5.6% during the second quarter. Abundance Wealth Counselors now owns 9,557 shares of the solar energy provider's stock valued at $709,000 after purchasing an additional 506 shares during the last quarter. Finally, Vestmark Advisory Solutions Inc. boosted its position in NextEra Energy Partners by 31.4% during the third quarter. Vestmark Advisory Solutions Inc. now owns 4,916 shares of the solar energy provider's stock valued at $355,000 after purchasing an additional 1,174 shares during the last quarter. 83.05% of the stock is currently owned by institutional investors and hedge funds.
Get NextEra Energy Partners alerts:NextEra Energy Partners Stock Down 0.7 %
Shares of NEP traded down $0.50 during trading hours on Friday, reaching $72.89. The stock had a trading volume of 620,980 shares, compared to its average volume of 606,152. The company has a current ratio of 1.91, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. The firm has a 50-day simple moving average of $74.92 and a 200 day simple moving average of $77.05. NextEra Energy Partners, LP has a 12 month low of $61.31 and a 12 month high of $86.06. The company has a market capitalization of $6.31 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 2.45 and a beta of 0.92.
NextEra Energy Partners (NYSE:NEP – Get Rating) last issued its quarterly earnings data on Wednesday, January 25th. The solar energy provider reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.12). The company had revenue of $266.00 million for the quarter, compared to the consensus estimate of $336.74 million. NextEra Energy Partners had a net margin of 39.39% and a return on equity of 4.00%. NextEra Energy Partners's revenue was up 14.7% on a year-over-year basis. During the same quarter last year, the business posted ($0.12) earnings per share. Equities research analysts predict that NextEra Energy Partners, LP will post 3 earnings per share for the current fiscal year.NextEra Energy Partners Increases Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, February 14th. Stockholders of record on Monday, February 6th will be paid a dividend of $0.8125 per share. This represents a $3.25 dividend on an annualized basis and a dividend yield of 4.46%. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.79. The ex-dividend date of this dividend is Friday, February 3rd. NextEra Energy Partners's payout ratio is presently 55.65%.
Analyst Upgrades and Downgrades
A number of analysts have recently issued reports on NEP shares. Morgan Stanley cut their price objective on NextEra Energy Partners from $88.00 to $86.00 and set an "equal weight" rating for the company in a research report on Monday, January 23rd. KeyCorp lowered their price objective on NextEra Energy Partners from $89.00 to $83.00 and set an "overweight" rating on the stock in a research note on Thursday, October 20th. Raymond James upgraded NextEra Energy Partners from an "underperform" rating to a "market perform" rating in a research note on Wednesday, January 4th. StockNews.com lowered NextEra Energy Partners from a "hold" rating to a "sell" rating in a research note on Thursday. Finally, Oppenheimer raised their price objective on NextEra Energy Partners from $88.00 to $94.00 and gave the stock an "outperform" rating in a research note on Thursday. Two analysts have rated the stock with a sell rating, three have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target of $85.60.
NextEra Energy Partners Profile
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NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
Further Reading
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