Duality Advisers LP Cuts Stake in NextEra Energy Partners, LP (NYSE:NEP)

Duality Advisers LP lowered its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 59.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,501 shares of the solar energy provider’s stock after selling 10,919 shares during the quarter. Duality Advisers LP’s holdings in NextEra Energy Partners were worth $228,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in NEP. ClearBridge Investments Ltd boosted its position in NextEra Energy Partners by 64.4% during the third quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock valued at $106,425,000 after purchasing an additional 1,404,318 shares in the last quarter. FMR LLC boosted its position 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. Redwood Grove Capital LLC boosted its position in NextEra Energy Partners by 231.3% during the third quarter. Redwood Grove Capital LLC now owns 541,592 shares of the solar energy provider’s stock valued at $16,085,000 after purchasing an additional 378,095 shares in the last quarter. Advisors Capital Management LLC boosted its holdings in NextEra Energy Partners by 278.3% in the third quarter. Advisors Capital Management LLC now owns 449,442 shares of the solar energy provider’s stock worth $13,348,000 after acquiring an additional 330,639 shares in the last quarter. Finally, EP Wealth Advisors LLC boosted its holdings in NextEra Energy Partners by 1,557.8% in the third quarter. EP Wealth Advisors LLC now owns 319,287 shares of the solar energy provider’s stock worth $9,483,000 after acquiring an additional 300,027 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Down 0.9 %

NextEra Energy Partners stock opened at $28.93 on Friday. The stock has a market capitalization of $2.71 billion, a PE ratio of 9.49 and a beta of 1.00. NextEra Energy Partners, LP has a 12 month low of $20.17 and a 12 month high of $63.89. The business has a 50 day simple moving average of $28.32 and a 200-day simple moving average of $27.37. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.28.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. The business had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The business’s revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.17) earnings per share. On average, analysts anticipate that NextEra Energy Partners, LP will post 1.33 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a $0.8925 dividend. The ex-dividend date is Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 dividend on an annualized basis and a dividend yield of 12.34%. NextEra Energy Partners’s payout ratio is currently 115.41%.

Wall Street Analyst Weigh In

NEP has been the subject of several recent analyst reports. Barclays initiated coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price target for the company. Evercore ISI initiated coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price target for the company. Raymond James decreased their target price on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, April 3rd. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. lifted their target price on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $43.88.

About NextEra Energy Partners

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.