22,103 Shares in NextEra Energy Partners, LP (NYSE:NEP) Purchased by Sanctuary Advisors LLC

Sanctuary Advisors LLC acquired a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 22,103 shares of the solar energy provider’s stock, valued at approximately $639,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Cetera Investment Advisers grew its holdings in NextEra Energy Partners by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock valued at $1,948,000 after buying an additional 6,769 shares during the period. Granite Bay Wealth Management LLC purchased a new stake in NextEra Energy Partners in the 2nd quarter valued at about $418,000. Pathway Financial Advisers LLC grew its holdings in NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock valued at $1,336,000 after buying an additional 454 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in NextEra Energy Partners by 40.4% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock valued at $294,000 after buying an additional 3,064 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock opened at $25.94 on Tuesday. The stock’s 50 day moving average price is $25.52 and its 200 day moving average price is $28.00. The firm has a market capitalization of $2.43 billion, a PE ratio of 8.51 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. NextEra Energy Partners, LP has a one year low of $21.57 and a one year high of $35.15.

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

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were paid a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a yield of 13.96%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is 118.69%.

Wall Street Analysts Forecast Growth

Several research firms have commented on NEP. BMO Capital Markets lowered their price target on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Morgan Stanley lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. UBS Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Finally, Barclays reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th. Five analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $29.54.

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.