nVerses Capital LLC Buys 2,600 Shares of NextEra Energy Partners, LP (NYSE:NEP)

nVerses Capital LLC boosted its position in NextEra Energy Partners, LP (NYSE:NEP) by 44.8% during the second quarter, Holdings Channel reports. The fund owned 8,400 shares of the solar energy provider’s stock after acquiring an additional 2,600 shares during the period. nVerses Capital LLC’s holdings in NextEra Energy Partners were worth $232,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in the company. M&G Plc bought a new position in shares of NextEra Energy Partners during the 1st quarter valued at about $83,069,000. 1832 Asset Management L.P. raised its stake in shares of NextEra Energy Partners by 599.4% during the fourth quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock worth $79,142,000 after acquiring an additional 2,230,374 shares in the last quarter. M&G Investment Management Ltd. raised its stake in shares of NextEra Energy Partners by 27.1% during the fourth quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock worth $91,322,000 after acquiring an additional 648,775 shares in the last quarter. Commerce Bank bought a new stake in shares of NextEra Energy Partners in the 1st quarter worth approximately $15,597,000. Finally, Verition Fund Management LLC purchased a new stake in shares of NextEra Energy Partners in the 4th quarter valued at $14,269,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Down 0.8 %

Shares of NEP opened at $25.05 on Monday. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $51.28. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average price is $26.19 and its 200-day moving average price is $28.48. The firm has a market capitalization of $2.34 billion, a price-to-earnings ratio of 8.21 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating the consensus estimate of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. During the same period in the previous year, the firm posted $0.53 EPS. The business’s revenue was up 22.9% on a year-over-year basis. Sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.74 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.905 dividend. This represents a $3.62 annualized dividend and a yield of 14.45%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Analyst Ratings Changes

A number of equities analysts recently commented on NEP shares. Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. BMO Capital Markets dropped their target price on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Barclays cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $32.00 to $25.00 in a research note on Thursday, June 13th. Finally, Mizuho lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Wednesday, June 12th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $33.00.

NextEra Energy Partners 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.