OneAscent Wealth Management LLC Cuts Stake in NextEra Energy Partners, LP (NYSE:NEP)

OneAscent Wealth Management LLC cut its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 20.7% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,706 shares of the solar energy provider’s stock after selling 1,488 shares during the quarter. OneAscent Wealth Management LLC’s holdings in NextEra Energy Partners were worth $335,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the business. BlackRock Inc. increased its stake 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 period. Neuberger Berman Group LLC raised its holdings in NextEra Energy Partners by 2.4% during the 4th quarter. Neuberger Berman Group LLC now owns 4,270,253 shares of the solar energy provider’s stock valued at $299,301,000 after buying an additional 98,465 shares during the last quarter. Jennison Associates LLC boosted its position in NextEra Energy Partners by 0.4% during the 1st quarter. Jennison Associates LLC now owns 2,759,605 shares of the solar energy provider’s stock valued at $167,646,000 after buying an additional 11,346 shares during the period. Price T Rowe Associates Inc. MD grew its holdings in NextEra Energy Partners by 0.8% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 2,188,292 shares of the solar energy provider’s stock worth $162,284,000 after acquiring an additional 16,707 shares during the last quarter. Finally, Pictet Asset Management SA increased its position in shares of NextEra Energy Partners by 14.7% in the first quarter. Pictet Asset Management SA now owns 1,892,708 shares of the solar energy provider’s stock valued at $114,982,000 after acquiring an additional 243,285 shares during the period. 80.99% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Up 1.0 %

NextEra Energy Partners stock traded up $0.48 during mid-day trading on Friday, hitting $50.92. The company had a trading volume of 857,609 shares, compared to its average volume of 817,350. NextEra Energy Partners, LP has a 12 month low of $44.24 and a 12 month high of $83.53. The company has a market capitalization of $4.76 billion, a PE ratio of 30.13, a price-to-earnings-growth ratio of 3.21 and a beta of 0.86. The stock’s 50 day moving average price is $51.44 and its two-hundred day moving average price is $57.50. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, July 25th. The solar energy provider reported $0.53 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.19). The firm had revenue of $350.00 million during the quarter, compared to the consensus estimate of $392.92 million. NextEra Energy Partners had a return on equity of 1.06% and a net margin of 12.22%. During the same quarter in the previous year, the firm earned $2.61 EPS. As a group, sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.27 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were issued a $0.854 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.84. This represents a $3.42 dividend on an annualized basis and a yield of 6.71%. The ex-dividend date was Thursday, August 3rd. NextEra Energy Partners’s payout ratio is presently 202.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NEP shares. JPMorgan Chase & Co. cut their target price on NextEra Energy Partners from $72.00 to $69.00 in a research note on Wednesday, July 19th. Raymond James upgraded NextEra Energy Partners from a “market perform” rating to an “outperform” rating and set a $60.00 target price for the company in a report on Tuesday, August 29th. Oppenheimer reduced their price objective on shares of NextEra Energy Partners from $90.00 to $81.00 in a research report on Wednesday, July 26th. Bank of America upgraded shares of NextEra Energy Partners from an “underperform” rating to a “neutral” rating and upped their price objective for the stock from $53.00 to $60.00 in a report on Thursday, June 1st. Finally, Royal Bank of Canada cut their target price on shares of NextEra Energy Partners from $74.00 to $73.00 in a research note on Monday, May 22nd. One analyst has rated the stock with a sell rating, two have given a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $74.64.

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