Wealthcare Advisory Partners LLC Invests $211,000 in NextEra Energy Partners, LP (NYSE:NEP)

Wealthcare Advisory Partners LLC purchased a new stake in NextEra Energy Partners, LP (NYSE:NEPFree Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,841 shares of the solar energy provider’s stock, valued at approximately $211,000.

A number of other hedge funds have also modified their holdings of the company. M&G PLC increased its stake in NextEra Energy Partners by 19.3% in the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after purchasing an additional 496,383 shares in the last quarter. Franklin Resources Inc. increased its position in shares of NextEra Energy Partners by 89.4% in the 3rd quarter. Franklin Resources Inc. now owns 78,930 shares of the solar energy provider’s stock valued at $2,049,000 after buying an additional 37,265 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in NextEra Energy Partners by 59.6% during the 4th quarter. Assenagon Asset Management S.A. now owns 173,251 shares of the solar energy provider’s stock worth $3,084,000 after buying an additional 64,673 shares during the period. Thrivent Financial for Lutherans bought a new position in NextEra Energy Partners during the third quarter worth about $16,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its stake in NextEra Energy Partners by 158.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 255,754 shares of the solar energy provider’s stock valued at $7,064,000 after acquiring an additional 156,774 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Price Performance

Shares of NEP opened at $15.95 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The company’s fifty day simple moving average is $17.53 and its 200 day simple moving average is $22.21. NextEra Energy Partners, LP has a 1-year low of $15.55 and a 1-year high of $35.15. The company has a market cap of $1.49 billion, a price-to-earnings ratio of 7.32 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEPGet Free Report) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm 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 for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the business posted $0.57 earnings per share. On average, research analysts forecast that NextEra Energy Partners, LP will post 2.06 earnings per share for the current fiscal year.

Analyst Ratings Changes

NEP has been the topic of several recent analyst reports. BNP Paribas assumed coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective on the stock. Mizuho reduced their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Barclays restated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. UBS Group reduced their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. Finally, Evercore ISI dropped their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $24.64.

Check Out Our Latest Stock Report on NextEra Energy Partners

NextEra Energy Partners Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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