NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Swedbank AB

Swedbank AB cut its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 23.1% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,382 shares of the solar energy provider’s stock after selling 73,301 shares during the period. Swedbank AB owned about 0.26% of NextEra Energy Partners worth $6,722,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in NEP. Brown Miller Wealth Management LLC lifted its holdings in shares of NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after buying an additional 433 shares during the period. Future Financial Wealth Managment LLC acquired a new position in NextEra Energy Partners in the third quarter valued at approximately $173,000. Strategic Wealth Partners Ltd. boosted its position in NextEra Energy Partners by 25.4% in the 3rd quarter. Strategic Wealth Partners Ltd. now owns 46,912 shares of the solar energy provider’s stock worth $1,296,000 after purchasing an additional 9,490 shares in the last quarter. Sanctuary Advisors LLC purchased a new stake in NextEra Energy Partners in the 2nd quarter worth approximately $639,000. Finally, Cetera Investment Advisers grew its stake in shares of NextEra Energy Partners by 10.6% during the 2nd quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock worth $1,948,000 after purchasing an additional 6,769 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Performance

NYSE:NEP opened at $26.19 on Friday. The company has a market cap of $2.45 billion, a P/E ratio of 8.59 and a beta of 1.06. NextEra Energy Partners, LP has a twelve month low of $21.83 and a twelve month high of $35.15. The company’s 50-day moving average price is $25.67 and its 200-day moving average price is $27.90. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36.

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

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Shareholders of record on Tuesday, August 6th were issued a $0.905 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 annualized dividend and a yield of 13.82%. The ex-dividend date of this dividend was Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on NEP shares. Wolfe Research cut shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Morgan Stanley lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. UBS Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Finally, Barclays restated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus price target of $29.54.

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.