Richardson Financial Services Inc. Takes Position in NextEra Energy Partners, LP (NYSE:NEP)

Richardson Financial Services Inc. acquired a new stake in shares of NextEra Energy Partners, LP (NYSE:NEP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 890 shares of the solar energy provider’s stock, valued at approximately $27,000.

Several other institutional investors also recently made changes to their positions in the stock. FMR LLC grew its stake in shares of NextEra Energy Partners by 18.9% during the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after buying an additional 774,665 shares during the period. ClearBridge Investments Ltd lifted its holdings in shares of NextEra Energy Partners by 9.1% during the 4th quarter. ClearBridge Investments Ltd now owns 3,910,977 shares of the solar energy provider’s stock valued at $118,933,000 after acquiring an additional 327,641 shares in the last quarter. M&G Investment Management Ltd. lifted its holdings in shares of NextEra Energy Partners by 27.1% during the 4th quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock valued at $91,322,000 after acquiring an additional 648,775 shares in the last quarter. 1832 Asset Management L.P. lifted its holdings in shares of NextEra Energy Partners by 599.4% during the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after acquiring an additional 2,230,374 shares in the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of NextEra Energy Partners by 18.7% during the 4th quarter. Kayne Anderson Capital Advisors LP now owns 1,663,736 shares of the solar energy provider’s stock valued at $50,594,000 after acquiring an additional 261,523 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 NYSE:NEP opened at $27.35 on Tuesday. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $62.58. The firm has a 50-day simple moving average of $30.88 and a 200 day simple moving average of $29.40. The company has a market cap of $2.56 billion, a PE ratio of 8.97 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The business had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. During the same quarter in the prior year, the firm earned ($0.17) EPS. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.89 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 13.05%. The ex-dividend date of this dividend was Monday, May 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio is currently 117.05%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEP. Raymond James reduced their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Wednesday, June 12th. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the stock from $32.00 to $25.00 in a report on Thursday, June 13th. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Three analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $38.79.

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.