Thrivent Financial for Lutherans Invests $16.19 Million in NextEra Energy Partners, LP (NYSE:NEP)

Thrivent Financial for Lutherans bought a new position in NextEra Energy Partners, LP (NYSE:NEP) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 586,013 shares of the solar energy provider’s stock, valued at approximately $16,186,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameritas Advisory Services LLC raised its position in NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after purchasing an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC increased its position in shares of NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after acquiring an additional 433 shares during the period. Pathway Financial Advisers LLC grew its stake in NextEra Energy Partners by 0.9% during 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 purchasing an additional 454 shares during the last quarter. Arizona State Retirement System increased its holdings in NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after buying an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC boosted its holdings in shares of NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock valued at $362,000 after acquiring an additional 581 shares during the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Up 1.3 %

NEP opened at $16.08 on Thursday. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 7.38 and a beta of 1.10. NextEra Energy Partners, LP has a 12 month low of $15.55 and a 12 month high of $35.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The business has a 50-day moving average of $22.90 and a two-hundred day moving average of $26.34.

NextEra Energy Partners (NYSE:NEP) last posted 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). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. During the same quarter in the previous year, the business posted $0.57 EPS. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that NextEra Energy Partners, LP will post 1.36 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 22.82%. The ex-dividend date was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. BNP Paribas initiated coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective for the company. UBS Group reduced their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Mizuho reduced their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $31.00 to $20.00 in a report on Wednesday, July 31st. Finally, BMO Capital Markets lowered their price objective on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $26.69.

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.