Miller Howard Investments Inc. NY Decreases Position in NextEra Energy Partners, LP (NYSE:NEP)

Miller Howard Investments Inc. NY cut its position in NextEra Energy Partners, LP (NYSE:NEP) by 4.6% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 57,520 shares of the solar energy provider’s stock after selling 2,774 shares during the period. Miller Howard Investments Inc. NY owned approximately 0.06% of NextEra Energy Partners worth $1,730,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Clearbridge Investments LLC purchased a new position in shares of NextEra Energy Partners during the fourth quarter valued at approximately $6,818,000. Benjamin F. Edwards & Company Inc. grew its position in NextEra Energy Partners by 13.2% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 9,720 shares of the solar energy provider’s stock valued at $296,000 after buying an additional 1,130 shares during the period. Otter Creek Advisors LLC bought a new stake in NextEra Energy Partners during the fourth quarter valued at approximately $3,061,000. Tudor Investment Corp Et Al grew its position in NextEra Energy Partners by 477.2% during the third quarter. Tudor Investment Corp Et Al now owns 238,288 shares of the solar energy provider’s stock valued at $7,077,000 after buying an additional 197,002 shares during the period. Finally, Caxton Associates LP bought a new stake in NextEra Energy Partners during the fourth quarter valued at approximately $1,509,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on NEP. Raymond James cut their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a research report on Wednesday, June 12th. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Finally, StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $38.79.

NextEra Energy Partners Stock Performance

Shares of NYSE:NEP opened at $28.23 on Tuesday. NextEra Energy Partners, LP has a 52 week low of $20.17 and a 52 week high of $59.90. The stock has a market capitalization of $2.64 billion, a P/E ratio of 9.26 and a beta of 1.07. The firm has a fifty day simple moving average of $30.85 and a two-hundred day simple moving average of $29.49. 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 (NYSE:NEP) last issued its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, topping 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 analysts’ expectations of $331.78 million. During the same period last year, the company posted ($0.17) EPS. The business’s revenue was up 4.9% on a year-over-year basis. On average, analysts expect that NextEra Energy Partners, LP will post 1.89 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 Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were issued a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 12.65%. The ex-dividend date was Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio (DPR) is 117.05%.

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.