Daiwa Securities Group Inc. Sells 10,750 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Daiwa Securities Group Inc. trimmed its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 45.3% in the 3rd quarter, HoldingsChannel reports. The firm owned 13,000 shares of the solar energy provider’s stock after selling 10,750 shares during the quarter. Daiwa Securities Group Inc.’s holdings in NextEra Energy Partners were worth $359,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in NEP. M&G PLC grew its holdings in NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after buying an additional 496,383 shares in the last quarter. abrdn plc boosted its position in shares of NextEra Energy Partners by 6.2% during the 3rd quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock valued at $23,483,000 after acquiring an additional 49,400 shares during the last quarter. Raymond James & Associates grew its holdings in shares of NextEra Energy Partners by 6.2% in the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after purchasing an additional 46,718 shares in the last quarter. Vanguard Group Inc. increased its position in NextEra Energy Partners by 3.6% in the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock worth $19,127,000 after purchasing an additional 22,370 shares during the last quarter. Finally, Thrivent Financial for Lutherans purchased a new stake in NextEra Energy Partners during the third quarter valued at $16,186,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NEP stock opened at $17.47 on Monday. The stock has a market capitalization of $1.63 billion, a price-to-earnings ratio of 8.01 and a beta of 1.10. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. NextEra Energy Partners, LP has a twelve month low of $15.55 and a twelve month high of $35.15. The stock has a fifty day simple moving average of $21.67 and a two-hundred day simple moving average of $25.59.

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). The business had revenue of $319.00 million during the quarter, compared to the consensus estimate 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 for the quarter was up 3.6% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.57 EPS. On average, analysts predict that NextEra Energy Partners, LP will post 1.36 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a dividend yield of 21.01%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is presently 168.35%.

Analysts Set New Price Targets

A number of brokerages recently commented on NEP. Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $22.00 in a report on Monday, October 28th. CIBC lowered their price objective on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a research note on Tuesday, October 22nd. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their target price for the company from $25.00 to $22.00 in a research report on Thursday, October 24th. Barclays restated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. Finally, Mizuho cut their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $26.69.

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.