NextEra Energy Partners, LP (NYSE:NEP) Shares Purchased by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D increased its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 38.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 77,302 shares of the solar energy provider’s stock after purchasing an additional 21,400 shares during the period. State of New Jersey Common Pension Fund D’s holdings in NextEra Energy Partners were worth $2,135,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of NEP. M&G Plc purchased a new stake in shares of NextEra Energy Partners during the 1st quarter valued at approximately $83,069,000. M&G PLC raised its position 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 during the period. Swedbank AB acquired a new position in shares of NextEra Energy Partners in the 1st quarter valued at $9,927,000. ClearBridge Investments Ltd raised its holdings in NextEra Energy Partners by 6.4% in the 1st 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. Finally, Fred Alger Management LLC acquired a new position in NextEra Energy Partners in the second quarter valued at about $5,452,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NEP opened at $16.98 on Friday. The firm has a market capitalization of $1.59 billion, a price-to-earnings ratio of 7.79 and a beta of 1.10. The firm’s fifty day simple moving average is $23.73 and its 200-day simple moving average is $26.80. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. NextEra Energy Partners, LP has a twelve month low of $15.55 and a twelve month 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 the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same period in the prior year, the company posted $0.57 earnings per share. The company’s revenue was up 3.6% compared to the same quarter last year. Equities analysts forecast that NextEra Energy Partners, LP will post 1.41 EPS 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. Stockholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 annualized dividend and a dividend yield of 21.61%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is currently 168.35%.

Analyst Upgrades and Downgrades

NEP has been the subject of a number of recent analyst reports. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and dropped their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. Mizuho decreased their price target on 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 NextEra Energy Partners from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. CIBC decreased their target price on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 22nd. Finally, Jefferies Financial Group dropped their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Four analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $26.69.

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.