NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by FSM Wealth Advisors LLC

FSM Wealth Advisors LLC lessened its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 7.8% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,723 shares of the solar energy provider’s stock after selling 400 shares during the period. FSM Wealth Advisors LLC’s holdings in NextEra Energy Partners were worth $274,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of NextEra Energy Partners in the 1st quarter valued at $36,000. Lazard Asset Management LLC boosted its holdings in shares of NextEra Energy Partners by 69.6% in the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after buying an additional 224 shares in the last quarter. HBC Financial Services PLLC acquired a new position in shares of NextEra Energy Partners in the 1st quarter valued at $46,000. Quintet Private Bank Europe S.A. acquired a new position in shares of NextEra Energy Partners in the 1st quarter valued at $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 in the last quarter. Institutional investors and hedge funds own 80.99% of the company’s stock.

NextEra Energy Partners Price Performance

Shares of NEP traded down $0.51 during trading hours on Monday, reaching $50.41. The company had a trading volume of 409,118 shares, compared to its average volume of 908,591. The firm has a 50 day simple moving average of $51.44 and a 200-day simple moving average of $57.39. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The company has a market capitalization of $4.71 billion, a price-to-earnings ratio of 30.13, a PEG ratio of 3.21 and a beta of 0.86. NextEra Energy Partners, LP has a 12-month low of $44.24 and a 12-month high of $83.53.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data 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 net margin of 12.22% and a return on equity of 1.06%. The business had revenue of $350.00 million during the quarter, compared to analyst estimates of $392.92 million. During the same period in the previous year, the company posted $2.61 earnings per share. Research analysts expect that NextEra Energy Partners, LP will post 1.27 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Friday, August 4th were issued a dividend of $0.854 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.84. This represents a $3.42 annualized dividend and a dividend yield of 6.78%. The ex-dividend date of this dividend was Thursday, August 3rd. NextEra Energy Partners’s dividend payout ratio is presently 201.78%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on NEP. Raymond James upgraded shares of 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. Royal Bank of Canada reduced their price target on shares of NextEra Energy Partners from $74.00 to $73.00 in a research report on Monday, May 22nd. JPMorgan Chase & Co. reduced their price target on shares of NextEra Energy Partners from $72.00 to $69.00 in a research report on Wednesday, July 19th. Oppenheimer reduced their price target on shares of NextEra Energy Partners from $90.00 to $81.00 in a research report on Wednesday, July 26th. Finally, Bank of America upgraded shares of NextEra Energy Partners from an “underperform” rating to a “neutral” rating and upped their price target for the company from $53.00 to $60.00 in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and ten have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price 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.