Cetera Investment Advisers Grows Stake in NextEra Energy Partners, LP (NYSE:NEP)

Cetera Investment Advisers grew its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 10.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 70,491 shares of the solar energy provider’s stock after purchasing an additional 6,769 shares during the quarter. Cetera Investment Advisers’ holdings in NextEra Energy Partners were worth $1,948,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Granite Bay Wealth Management LLC acquired a new position in NextEra Energy Partners during the 2nd quarter worth approximately $418,000. Pathway Financial Advisers LLC raised its stake in shares of NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock valued at $1,336,000 after purchasing an additional 454 shares during the period. B. Riley Wealth Advisors Inc. lifted its position in shares of NextEra Energy Partners by 40.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock worth $294,000 after purchasing an additional 3,064 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Finally, Creative Planning lifted its position in shares of NextEra Energy Partners by 15.2% during the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after purchasing an additional 1,490 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Wolfe Research cut shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Morgan Stanley cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, BMO Capital Markets dropped their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $29.54.

NextEra Energy Partners Stock Up 1.8 %

NEP stock opened at $25.24 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. NextEra Energy Partners, LP has a 1-year low of $21.11 and a 1-year high of $35.15. The firm has a fifty day moving average price of $25.52 and a two-hundred day moving average price of $28.00. The firm has a market cap of $2.36 billion, a price-to-earnings ratio of 8.28 and a beta of 1.06.

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

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were given a dividend of $0.905 per share. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 annualized dividend and a dividend yield of 14.34%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is currently 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.