Naples Global Advisors LLC Sells 5,735 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Naples Global Advisors LLC lowered its stake in NextEra Energy Partners, LP (NYSE:NEPFree Report) by 12.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 39,820 shares of the solar energy provider’s stock after selling 5,735 shares during the period. Naples Global Advisors LLC’s holdings in NextEra Energy Partners were worth $1,211,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NEP. ORG Partners LLC raised its position in shares of NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock worth $36,000 after acquiring an additional 670 shares in the last quarter. Parkside Financial Bank & Trust lifted its position in NextEra Energy Partners by 60.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 454 shares during the period. Global Wealth Management Investment Advisory Inc. purchased a new position in NextEra Energy Partners during the first quarter valued at $36,000. Lazard Asset Management LLC boosted its holdings in shares of 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 valued at $45,000 after buying an additional 224 shares in the last quarter. Finally, Kayne Anderson Rudnick Investment Management LLC purchased a new stake in shares of NextEra Energy Partners in the 2nd quarter worth about $47,000. 80.99% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Trading Down 0.6 %

Shares of NEP stock opened at $27.10 on Thursday. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $64.43. The stock has a market capitalization of $2.53 billion, a P/E ratio of 12.72, a P/E/G ratio of 2.07 and a beta of 1.00. The firm’s 50 day moving average is $28.27 and its 200 day moving average is $29.65.

NextEra Energy Partners (NYSE:NEPGet Free Report) last released its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.38). NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The firm had revenue of $232.00 million during the quarter, compared to analysts’ expectations of $360.03 million. Research analysts expect that NextEra Energy Partners, LP will post 0.89 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were paid a dividend of $0.88 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a dividend yield of 12.99%. The ex-dividend date was Monday, February 5th. NextEra Energy Partners’s payout ratio is currently 165.26%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Evercore ISI initiated coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target for the company. JPMorgan Chase & Co. lifted their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Guggenheim dropped their price target on NextEra Energy Partners from $42.00 to $37.00 and set a “buy” rating on the stock in a research report on Wednesday, December 6th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday. Finally, CIBC cut NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Tuesday, January 9th. One analyst has rated the stock with a sell rating, eight have given a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $47.31.

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About NextEra Energy Partners

(Free Report)

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. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.

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Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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