Envestnet Asset Management Inc. Purchases 1,918 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Envestnet Asset Management Inc. lifted its position in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 8.9% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 23,395 shares of the solar energy provider’s stock after acquiring an additional 1,918 shares during the quarter. Envestnet Asset Management Inc.’s holdings in NextEra Energy Partners were worth $1,735,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Benjamin F. Edwards & Company Inc. raised its holdings in shares of NextEra Energy Partners by 2.9% in the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 5,736 shares of the solar energy provider’s stock valued at $478,000 after acquiring an additional 162 shares in the last quarter. Advisory Services Network LLC boosted its position in shares of NextEra Energy Partners by 5.8% during the second quarter. Advisory Services Network LLC now owns 3,063 shares of the solar energy provider’s stock valued at $227,000 after purchasing an additional 167 shares in the last quarter. Dearborn Partners LLC raised its stake in NextEra Energy Partners by 0.9% during the first quarter. Dearborn Partners LLC now owns 20,332 shares of the solar energy provider’s stock valued at $1,695,000 after buying an additional 188 shares during the last quarter. Beacon Pointe Advisors LLC raised its stake in NextEra Energy Partners by 2.9% during the first quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock valued at $594,000 after buying an additional 200 shares during the last quarter. Finally, National Bank of Canada FI raised its stake in NextEra Energy Partners by 1.1% during the second quarter. National Bank of Canada FI now owns 19,355 shares of the solar energy provider’s stock valued at $1,436,000 after buying an additional 208 shares during the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NEP opened at $78.22 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.91 and a quick ratio of 1.80. NextEra Energy Partners, LP has a one year low of $61.31 and a one year high of $88.80. The firm has a market capitalization of $6.77 billion, a P/E ratio of 15.22, a PEG ratio of 1.49 and a beta of 0.87. The business has a fifty day moving average of $75.75 and a 200 day moving average of $75.71.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 14th. Shareholders of record on Friday, November 4th were issued a dividend of $0.788 per share. This represents a $3.15 annualized dividend and a yield of 4.03%. The ex-dividend date was Thursday, November 3rd. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.76. NextEra Energy Partners’s payout ratio is currently 61.28%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on NEP. StockNews.com assumed coverage on NextEra Energy Partners in a research note on Wednesday, October 12th. They set a “hold” rating for the company. Credit Suisse Group decreased their price target on NextEra Energy Partners from $90.00 to $87.00 and set an “outperform” rating for the company in a research note on Wednesday, November 2nd. KeyCorp decreased their price target on NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating for the company in a research note on Thursday, October 20th. Morgan Stanley boosted their price target on NextEra Energy Partners from $86.00 to $88.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 25th. Finally, The Goldman Sachs Group decreased their price target on NextEra Energy Partners from $102.00 to $88.00 and set a “buy” rating for the company in a research note on Thursday, September 22nd. Two analysts have rated the stock with a sell rating, three have issued a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and an average price target of $84.89.

About NextEra Energy Partners

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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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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