NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Public Employees Retirement Association of Colorado

Public Employees Retirement Association of Colorado trimmed its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 9.9% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 10,775 shares of the solar energy provider’s stock after selling 1,183 shares during the period. Public Employees Retirement Association of Colorado’s holdings in NextEra Energy Partners were worth $298,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the business. Garner Asset Management Corp grew its holdings in NextEra Energy Partners by 8.1% in the second quarter. Garner Asset Management Corp now owns 25,250 shares of the solar energy provider’s stock valued at $698,000 after purchasing an additional 1,900 shares during the period. Virtu Financial LLC acquired a new stake in NextEra Energy Partners in the second quarter valued at approximately $1,377,000. Quantbot Technologies LP grew its holdings in NextEra Energy Partners by 83.4% in the second quarter. Quantbot Technologies LP now owns 149,718 shares of the solar energy provider’s stock valued at $4,138,000 after purchasing an additional 68,084 shares during the period. Johnson Investment Counsel Inc. grew its holdings in NextEra Energy Partners by 18.8% in the second quarter. Johnson Investment Counsel Inc. now owns 39,827 shares of the solar energy provider’s stock valued at $1,101,000 after purchasing an additional 6,315 shares during the period. Finally, Headlands Technologies LLC grew its holdings in NextEra Energy Partners by 201.4% in the second quarter. Headlands Technologies LLC now owns 43,287 shares of the solar energy provider’s stock valued at $1,196,000 after purchasing an additional 28,923 shares during the period. 66.01% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $28.11 on Friday. NextEra Energy Partners, LP has a 52 week low of $20.17 and a 52 week high of $37.31. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.63 billion, a P/E ratio of 9.22 and a beta of 1.05. The stock’s fifty day moving average is $25.67 and its two-hundred day moving average is $28.16.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The company’s revenue for the quarter was up 22.9% on a year-over-year basis. Equities analysts expect that NextEra Energy Partners, LP will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a $0.905 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 12.88%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is currently 118.69%.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the company. Royal Bank of Canada lowered NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their price target for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Mizuho lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, June 12th. Morgan Stanley lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price target for the stock from $31.00 to $20.00 in a research note on Wednesday, July 31st. Finally, BMO Capital Markets lowered their price target on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research note on Monday, July 22nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and an average target price of $30.86.

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.