NextEra Energy Partners, LP (NYSE:NEP) Shares Purchased by LPL Financial LLC

Posted by MarketBeat News on May 22nd, 2023

LPL Financial LLC increased its stake in shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 33.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 31,872 shares of the solar energy provider’s stock after purchasing an additional 7,929 shares during the quarter. LPL Financial LLC’s holdings in NextEra Energy Partners were worth $2,234,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of NEP. ClearBridge Investments Ltd lifted its holdings in NextEra Energy Partners by 94.8% during the 1st quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock worth $128,470,000 after buying an additional 750,144 shares during the last quarter. Marshall Wace LLP purchased a new stake in NextEra Energy Partners during the 3rd quarter valued at approximately $42,935,000. International Assets Investment Management LLC raised its stake in NextEra Energy Partners by 18,031.2% during the 4th quarter. International Assets Investment Management LLC now owns 568,593 shares of the solar energy provider’s stock valued at $834,000 after acquiring an additional 565,457 shares during the last quarter. Encompass Capital Advisors LLC purchased a new stake in NextEra Energy Partners during the 3rd quarter valued at approximately $27,116,000. Finally, BlackRock Inc. raised its stake in NextEra Energy Partners by 4.9% during the 1st quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock valued at $634,357,000 after acquiring an additional 356,265 shares during the last quarter. 83.05% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Down 2.5 %

Shares of NYSE NEP opened at $57.91 on Monday. NextEra Energy Partners, LP has a 1 year low of $51.58 and a 1 year high of $86.06. The firm has a market cap of $5.15 billion, a price-to-earnings ratio of 15.36, a PEG ratio of 4.10 and a beta of 0.89. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.33 and a current ratio of 1.39. The stock’s 50-day simple moving average is $60.24 and its 200-day simple moving average is $68.83.

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NextEra Energy Partners (NYSE:NEP – Get Rating) last posted its earnings results on Tuesday, April 25th. The solar energy provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.31 by ($0.48). The company had revenue of $301.00 million for the quarter, compared to the consensus estimate of $355.92 million. NextEra Energy Partners had a net margin of 25.91% and a return on equity of 2.38%. The firm’s revenue for the quarter was up 7.1% compared to the same quarter last year. During the same period last year, the company posted $1.72 earnings per share. As a group, equities analysts anticipate that NextEra Energy Partners, LP will post 1.35 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, May 15th. Stockholders of record on Friday, May 5th were issued a dividend of $0.8425 per share. The ex-dividend date of this dividend was Thursday, May 4th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.81. This represents a $3.37 annualized dividend and a dividend yield of 5.82%. NextEra Energy Partners’s dividend payout ratio is 89.39%.

Insider Activity

In other NextEra Energy Partners news, Director Peter H. Kind acquired 1,750 shares of NextEra Energy Partners stock in a transaction dated Thursday, April 27th. The stock was acquired at an average cost of $56.89 per share, for a total transaction of $99,557.50. Following the completion of the transaction, the director now owns 32,340 shares in the company, valued at approximately $1,839,822.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on the company. CIBC upgraded NextEra Energy Partners from a “sector perform” rating to a “sector outperform” rating in a research report on Monday, May 8th. JPMorgan Chase & Co. upgraded NextEra Energy Partners from a “neutral” rating to an “overweight” rating and lowered their price target for the stock from $81.00 to $73.00 in a report on Friday, April 21st. Royal Bank of Canada lowered their target price on NextEra Energy Partners from $89.00 to $87.00 and set an “outperform” rating on the stock in a report on Monday, January 30th. Guggenheim lowered their target price on NextEra Energy Partners from $81.00 to $74.00 in a report on Tuesday, May 9th. Finally, KeyCorp reduced their price target on NextEra Energy Partners from $83.00 to $72.00 in a research note on Tuesday, April 18th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, NextEra Energy Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $80.00.

NextEra Energy Partners Company 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 and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.