abrdn plc Boosts Holdings in NextEra Energy Partners, LP (NYSE:NEP)

abrdn plc raised its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 55.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 785,174 shares of the solar energy provider’s stock after purchasing an additional 278,940 shares during the period. abrdn plc owned 0.84% of NextEra Energy Partners worth $23,877,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. FMR LLC lifted its holdings in NextEra Energy Partners by 18.9% during the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after purchasing an additional 774,665 shares in the last quarter. ClearBridge Investments Ltd lifted its stake in shares of NextEra Energy Partners by 64.4% in the third quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock worth $106,425,000 after buying an additional 1,404,318 shares in the last quarter. Electron Capital Partners LLC lifted its stake in shares of NextEra Energy Partners by 7.9% in the third quarter. Electron Capital Partners LLC now owns 1,493,087 shares of the solar energy provider’s stock worth $44,345,000 after buying an additional 108,799 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of NextEra Energy Partners by 31.0% in the third quarter. Bank of New York Mellon Corp now owns 1,044,197 shares of the solar energy provider’s stock worth $31,013,000 after buying an additional 246,908 shares in the last quarter. Finally, HighTower Advisors LLC lifted its stake in shares of NextEra Energy Partners by 14.1% in the third quarter. HighTower Advisors LLC now owns 839,956 shares of the solar energy provider’s stock worth $24,911,000 after buying an additional 104,055 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NEP opened at $28.71 on Wednesday. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $64.43. The stock has a market cap of $2.68 billion, a PE ratio of 13.48 and a beta of 1.00. The firm has a 50-day simple moving average of $28.27 and a two-hundred day simple moving average of $27.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.58. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The business had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. During the same period last year, the business earned ($0.17) earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, analysts forecast that NextEra Energy Partners, LP will post 0.83 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Barclays assumed coverage on shares of NextEra Energy Partners in a research note on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price target on the stock. Raymond James decreased their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 3rd. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Finally, CIBC cut shares of 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 report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $43.88.

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