Integrated Wealth Concepts LLC Boosts Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Integrated Wealth Concepts LLC raised its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 16.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,945 shares of the solar energy provider’s stock after purchasing an additional 2,084 shares during the quarter. Integrated Wealth Concepts LLC’s holdings in NextEra Energy Partners were worth $413,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in NEP. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners in the 2nd quarter valued at approximately $51,000. Eastern Bank purchased a new position in shares of NextEra Energy Partners in the 3rd quarter worth approximately $57,000. Central Bank & Trust Co. bought a new position in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $99,000. Finally, International Assets Investment Management LLC purchased a new stake in NextEra Energy Partners during the 2nd quarter valued at $104,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NEP opened at $17.91 on Thursday. The stock has a market capitalization of $1.67 billion, a PE ratio of 8.21 and a beta of 1.07. The company has a 50 day moving average price of $20.23 and a 200-day moving average price of $24.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. NextEra Energy Partners, LP has a fifty-two week low of $15.55 and a fifty-two week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm’s revenue was up 3.6% compared to the same quarter last year. During the same period last year, the business posted $0.57 EPS. Equities analysts predict that NextEra Energy Partners, LP will post 1.41 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were issued a $0.9175 dividend. The ex-dividend date was Wednesday, November 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a yield of 20.50%. NextEra Energy Partners’s payout ratio is currently 168.35%.

Analyst Ratings Changes

NEP has been the topic of a number of analyst reports. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their price objective for the company from $37.00 to $22.00 in a research report on Monday, October 28th. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $22.00 in a report on Thursday, October 24th. BMO Capital Markets decreased their price objective on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Evercore ISI cut their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, CIBC dropped their price objective on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a report on Tuesday, October 22nd. Three analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.85.

NextEra Energy Partners 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.