NextEra Energy Partners, LP (NYSE:NEP) Position Lowered by Commerce Bank

Commerce Bank trimmed its position in NextEra Energy Partners, LP (NYSE:NEP) by 77.3% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 117,995 shares of the solar energy provider’s stock after selling 400,828 shares during the period. Commerce Bank owned 0.13% of NextEra Energy Partners worth $3,259,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEP. Ameritas Advisory Services LLC grew its position in shares of NextEra Energy Partners by 1.4% in the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after acquiring an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC lifted its stake in NextEra Energy Partners by 2.4% during the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after purchasing an additional 433 shares during the last quarter. Pathway Financial Advisers LLC boosted its holdings in NextEra Energy Partners by 0.9% in the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares during the period. Arizona State Retirement System increased its stake in NextEra Energy Partners by 2.0% during the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after purchasing an additional 509 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC raised its holdings in shares of NextEra Energy Partners by 4.6% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after purchasing an additional 581 shares during the period. 66.01% of the stock is owned by institutional investors.

NextEra Energy Partners Stock Performance

Shares of NEP opened at $16.79 on Friday. The firm has a market capitalization of $1.57 billion, a PE ratio of 7.70 and a beta of 1.10. 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 firm has a 50-day moving average price of $22.72 and a 200 day moving average price of $26.27. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted 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 net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same quarter last year, the business earned $0.57 earnings per share. The company’s revenue was up 3.6% on a year-over-year basis. On average, 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 company also recently declared 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 boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 annualized dividend and a dividend yield of 21.86%. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

Analyst Ratings Changes

Several research analysts have recently commented on NEP shares. BMO Capital Markets decreased their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday, October 21st. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $22.00 in a report on Monday, October 28th. Barclays reiterated an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. CIBC reduced their price objective on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Finally, UBS Group dropped their target price 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. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $26.69.

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.