Truist Financial Corp Has $678,000 Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Truist Financial Corp trimmed its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 5.8% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 9,373 shares of the solar energy provider’s stock after selling 573 shares during the period. Truist Financial Corp’s holdings in NextEra Energy Partners were worth $678,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the business. ClearBridge Investments Ltd increased its position in NextEra Energy Partners by 94.8% in the 1st quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock worth $128,470,000 after purchasing an additional 750,144 shares during the last quarter. M&G Investment Management Ltd. increased its position in NextEra Energy Partners by 41.3% in the 2nd quarter. M&G Investment Management Ltd. now owns 1,306,181 shares of the solar energy provider’s stock worth $96,657,000 after purchasing an additional 382,039 shares during the last quarter. BlackRock Inc. increased its position in NextEra Energy Partners by 4.9% in the 1st quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock worth $634,357,000 after purchasing an additional 356,265 shares during the last quarter. abrdn plc acquired a new position in NextEra Energy Partners in the 2nd quarter worth about $18,818,000. Finally, Eaton Vance Management increased its position in NextEra Energy Partners by 46.2% in the 1st quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider’s stock worth $60,939,000 after purchasing an additional 231,102 shares during the last quarter. 83.05% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Trading Up 0.3 %

Shares of NEP stock opened at $74.25 on Friday. The firm’s fifty day simple moving average is $75.36 and its 200 day simple moving average is $77.12. The company has a current ratio of 1.91, a quick ratio of 1.80 and a debt-to-equity ratio of 0.38. NextEra Energy Partners, LP has a 1 year low of $61.31 and a 1 year high of $86.06. The firm has a market capitalization of $6.43 billion, a P/E ratio of 14.45, a price-to-earnings-growth ratio of 2.54 and a beta of 0.92.

NextEra Energy Partners (NYSE:NEP – Get Rating) last released its earnings results on Friday, October 28th. The solar energy provider reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.30. NextEra Energy Partners had a net margin of 36.70% and a return on equity of 3.71%. The company had revenue of $302.00 million for the quarter, compared to the consensus estimate of $394.15 million. As a group, sell-side analysts predict that NextEra Energy Partners, LP will post 5.76 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, November 14th. Stockholders of record on Friday, November 4th were issued a dividend of $0.788 per share. The ex-dividend date of this dividend was Thursday, November 3rd. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.25%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.76. NextEra Energy Partners’s payout ratio is 61.28%.

Wall Street Analysts Forecast Growth

NEP has been the topic of several research reports. Credit Suisse Group dropped their target price on NextEra Energy Partners from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. Wells Fargo & Company reduced their target price on NextEra Energy Partners from $93.00 to $90.00 and set an “overweight” rating for the company in a report on Wednesday, October 19th. StockNews.com started coverage on NextEra Energy Partners in a report on Wednesday, October 12th. They set a “hold” rating on the stock. Morgan Stanley lifted their price target on shares of NextEra Energy Partners from $86.00 to $88.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 25th. Finally, Raymond James upgraded shares of NextEra Energy Partners from an “underperform” rating to a “market perform” rating in a research note on Wednesday, January 4th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $84.89.

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.