Central Pacific Bank Trust Division Acquires 3,750 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Central Pacific Bank Trust Division lifted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 153.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,200 shares of the solar energy provider’s stock after buying an additional 3,750 shares during the period. Central Pacific Bank Trust Division’s holdings in NextEra Energy Partners were worth $110,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Northwestern Mutual Wealth Management Co. increased its stake in 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 acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC bought a new position in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $51,000. Eastern Bank bought a new position in shares of NextEra Energy Partners during the 3rd quarter valued at approximately $57,000. McIlrath & Eck LLC purchased a new stake in NextEra Energy Partners during the 3rd quarter valued at $63,000. Finally, Future Financial Wealth Managment LLC bought a new stake in NextEra Energy Partners in the third quarter worth $173,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Up 2.9 %

Shares of NextEra Energy Partners stock opened at $18.70 on Friday. 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 stock has a market cap of $1.75 billion, a price-to-earnings ratio of 8.58 and a beta of 1.06. The firm’s 50-day moving average is $17.84 and its two-hundred day moving average is $23.14. NextEra Energy Partners, LP has a 1 year low of $15.55 and a 1 year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The business had revenue of $319.00 million for 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%. NextEra Energy Partners’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.57 earnings per share. As a group, research analysts expect that NextEra Energy Partners, LP will post 1.96 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a dividend yield of 19.63%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is 168.35%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEP shares. Mizuho reduced their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, October 24th. UBS Group dropped their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Scotiabank reduced their price target on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th. Finally, Evercore ISI decreased their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.00.

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.