American Century Companies Inc. Decreases Stake in NextEra Energy Partners, LP (NYSE:NEP)

American Century Companies Inc. lessened its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 56.1% in the second quarter, Holdings Channel reports. The fund owned 37,046 shares of the solar energy provider’s stock after selling 47,333 shares during the quarter. American Century Companies Inc.’s holdings in NextEra Energy Partners were worth $1,024,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Richardson Financial Services Inc. purchased a new stake in NextEra Energy Partners during the fourth quarter valued at $27,000. Hexagon Capital Partners LLC increased its position in NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after acquiring an additional 627 shares during the last quarter. Central Pacific Bank Trust Division purchased a new stake in NextEra Energy Partners during the first quarter valued at $36,000. FinTrust Capital Advisors LLC purchased a new stake in NextEra Energy Partners during the first quarter valued at $45,000. Finally, Larson Financial Group LLC purchased a new stake in NextEra Energy Partners in the first quarter worth about $48,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on the company. BMO Capital Markets reduced their price target on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday, July 22nd. Raymond James cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. UBS Group reduced their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Finally, Barclays cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and an average target price of $31.36.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $27.61 on Tuesday. The firm has a market cap of $2.58 billion, a price-to-earnings ratio of 9.05 and a beta of 1.05. 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 business has a 50-day moving average price of $25.67 and a 200-day moving average price of $28.15. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly 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 during the quarter, compared to analyst estimates of $365.54 million. During the same period in the prior year, the company earned $0.53 earnings per share. The firm’s revenue was up 22.9% on a year-over-year basis. As a group, equities research analysts predict that NextEra Energy Partners, LP will post 2.2 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a dividend of $0.905 per share. The ex-dividend date was Tuesday, August 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a yield of 13.11%. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

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.