Financial Management Professionals Inc. grew its position in shares of NextEra Energy Partners, LP (NYSE:NEP – Free Report) by 9.9% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,721 shares of the solar energy provider’s stock after acquiring an additional 335 shares during the quarter. Financial Management Professionals Inc.’s holdings in NextEra Energy Partners were worth $218,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. acquired a new position in NextEra Energy Partners during the 1st quarter worth approximately $36,000. Lazard Asset Management LLC boosted its position in NextEra Energy Partners by 69.6% during the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock worth $45,000 after acquiring an additional 224 shares during the last quarter. HBC Financial Services PLLC acquired a new stake in shares of NextEra Energy Partners in the 1st quarter valued at approximately $46,000. Quintet Private Bank Europe S.A. acquired a new stake in shares of NextEra Energy Partners in the 1st quarter valued at approximately $55,000. Finally, Exchange Traded Concepts LLC boosted its holdings in shares of NextEra Energy Partners by 20.3% in the 1st quarter. Exchange Traded Concepts LLC now owns 1,084 shares of the solar energy provider’s stock valued at $66,000 after buying an additional 183 shares during the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.
Wall Street Analysts Forecast Growth
NEP has been the subject of several recent analyst reports. Oppenheimer cut their price objective on NextEra Energy Partners from $90.00 to $81.00 in a report on Wednesday, July 26th. Bank of America raised NextEra Energy Partners from an “underperform” rating to a “neutral” rating and increased their price objective for the company from $53.00 to $60.00 in a report on Thursday, June 1st. Royal Bank of Canada cut their price objective on NextEra Energy Partners from $74.00 to $73.00 in a report on Monday, May 22nd. JPMorgan Chase & Co. cut their price objective on NextEra Energy Partners from $72.00 to $69.00 in a report on Wednesday, July 19th. Finally, Raymond James raised NextEra Energy Partners from a “market perform” rating to an “outperform” rating and set a $60.00 price objective for the company in a report on Tuesday, August 29th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.64.
NextEra Energy Partners Stock Up 1.0 %
Shares of NYSE NEP opened at $50.92 on Friday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 1.16 and a current ratio of 1.22. NextEra Energy Partners, LP has a 52 week low of $44.24 and a 52 week high of $83.53. The stock has a market capitalization of $4.76 billion, a P/E ratio of 30.13, a PEG ratio of 3.21 and a beta of 0.86. The stock’s fifty day moving average is $51.44 and its 200 day moving average is $57.44.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last issued its quarterly earnings results on Tuesday, July 25th. The solar energy provider reported $0.53 EPS for the quarter, missing analysts’ consensus estimates of $0.72 by ($0.19). NextEra Energy Partners had a return on equity of 1.06% and a net margin of 12.22%. The company had revenue of $350.00 million during the quarter, compared to the consensus estimate of $392.92 million. During the same quarter in the previous year, the business posted $2.61 EPS. Sell-side analysts forecast that NextEra Energy Partners, LP will post 1.27 earnings per share for the current fiscal year.
NextEra Energy Partners Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Investors of record on Friday, August 4th were given a $0.854 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $3.42 dividend on an annualized basis and a dividend yield of 6.71%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.84. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 202.37%.
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.
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