Apollon Wealth Management LLC Has $340,000 Stake in NextEra Energy Partners, LP (NYSE:NEP)

Apollon Wealth Management LLC increased its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 5.7% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 12,306 shares of the solar energy provider’s stock after buying an additional 667 shares during the period. Apollon Wealth Management LLC’s holdings in NextEra Energy Partners were worth $340,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in NEP. M&G PLC increased its holdings in NextEra Energy Partners by 19.3% during the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after buying an additional 496,383 shares during the last quarter. Swedbank AB bought a new stake in shares of NextEra Energy Partners in the first quarter valued at about $9,927,000. Fred Alger Management LLC bought a new stake in shares of NextEra Energy Partners in the second quarter valued at about $5,452,000. DekaBank Deutsche Girozentrale boosted its position in shares of NextEra Energy Partners by 390.9% in the third quarter. DekaBank Deutsche Girozentrale now owns 127,971 shares of the solar energy provider’s stock valued at $3,732,000 after acquiring an additional 101,900 shares during the period. Finally, Assenagon Asset Management S.A. bought a new stake in shares of NextEra Energy Partners in the second quarter valued at about $2,794,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on NEP shares. Mizuho reduced their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. UBS Group cut their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $22.00 in a research report on Monday, October 28th. Finally, Jefferies Financial Group cut their price objective on shares of 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 investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $26.69.

NextEra Energy Partners Price Performance

Shares of NEP opened at $16.43 on Monday. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The business’s fifty day moving average is $23.42 and its 200 day moving average is $26.61. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The stock has a market cap of $1.54 billion, a P/E ratio of 7.54 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. During the same quarter last year, the business posted $0.57 earnings per share. NextEra Energy Partners’s revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.36 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced 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. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 22.34%. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 168.35%.

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.