MONECO Advisors LLC Sells 1,100 Shares of NextEra Energy Partners, LP (NYSE:NEP)

MONECO Advisors LLC lessened its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 10.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,730 shares of the solar energy provider’s stock after selling 1,100 shares during the quarter. MONECO Advisors LLC’s holdings in NextEra Energy Partners were worth $269,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in NEP. ClearBridge Investments Ltd raised its position in NextEra Energy Partners by 6.4% during the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after acquiring an additional 250,456 shares in the last quarter. M&G Plc bought a new stake in NextEra Energy Partners during the first quarter worth $83,069,000. abrdn plc raised its position in NextEra Energy Partners by 6.2% during the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock worth $23,483,000 after acquiring an additional 49,400 shares in the last quarter. Raymond James & Associates raised its position in NextEra Energy Partners by 6.2% during the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock worth $22,172,000 after acquiring an additional 46,718 shares in the last quarter. Finally, Redwood Grove Capital LLC raised its position in NextEra Energy Partners by 0.9% during the first quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock worth $23,359,000 after acquiring an additional 7,200 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

Analysts Set New Price Targets

Several research firms have issued reports on NEP. Barclays reaffirmed an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $22.00 in a report on Monday. Evercore ISI decreased their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price objective for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $26.69.

NextEra Energy Partners Trading Down 0.5 %

NEP stock opened at $19.18 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The company’s 50-day simple moving average is $25.21 and its 200 day simple moving average is $27.53. NextEra Energy Partners, LP has a 52 week low of $19.16 and a 52 week high of $35.15. The company has a market capitalization of $1.79 billion, a PE ratio of 8.80 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. As a group, sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.77 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 19.13%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is presently 166.06%.

About NextEra Energy Partners

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.