Future Financial Wealth Managment LLC Buys New Position in NextEra Energy Partners, LP (NYSE:NEP)

Future Financial Wealth Managment LLC acquired a new stake in shares of NextEra Energy Partners, LP (NYSE:NEP) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,270 shares of the solar energy provider’s stock, valued at approximately $173,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. ClearBridge Investments Ltd raised its holdings in NextEra Energy Partners by 6.4% in the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after buying an additional 250,456 shares during the period. M&G Plc acquired a new stake in shares of NextEra Energy Partners in the first quarter worth $83,069,000. Raymond James & Associates increased its position 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 worth $22,172,000 after acquiring an additional 46,718 shares in the last quarter. Redwood Grove Capital LLC increased its position in shares of NextEra Energy Partners by 0.9% in the first quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock worth $23,359,000 after acquiring an additional 7,200 shares in the last quarter. Finally, Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 22,370 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently weighed in on NEP. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Jefferies Financial Group initiated coverage on shares of NextEra Energy Partners in a research note on Thursday, September 19th. They set a “buy” rating and a $28.00 price objective on the stock. UBS Group reduced their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Raymond James downgraded shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Finally, Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $30.08.

NextEra Energy Partners Trading Down 0.2 %

NextEra Energy Partners stock opened at $25.33 on Wednesday. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The firm has a 50-day moving average price of $25.57 and a two-hundred day moving average price of $28.07. The firm has a market capitalization of $2.37 billion, a price-to-earnings ratio of 8.30 and a beta of 1.06. NextEra Energy Partners, LP has a 52-week low of $20.17 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same period in the previous year, the business posted $0.53 EPS. NextEra Energy Partners’s revenue was up 22.9% on a year-over-year basis. Sell-side analysts expect that NextEra Energy Partners, LP will post 2.2 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were given a dividend of $0.905 per share. This represents a $3.62 dividend on an annualized basis and a dividend yield of 14.29%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date was Tuesday, August 6th. NextEra Energy Partners’s payout ratio is 118.69%.

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.