NextEra Energy Partners, LP (NYSE:NEP) Position Increased by Quantbot Technologies LP

Quantbot Technologies LP boosted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 83.4% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 149,718 shares of the solar energy provider’s stock after buying an additional 68,084 shares during the quarter. Quantbot Technologies LP’s holdings in NextEra Energy Partners were worth $4,138,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in shares of NextEra Energy Partners in the fourth quarter worth about $27,000. Hexagon Capital Partners LLC grew its position in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares in the last quarter. Heritage Wealth Advisors acquired a new stake in NextEra Energy Partners during the 4th quarter valued at $33,000. Central Pacific Bank Trust Division purchased a new stake in shares of NextEra Energy Partners in the first quarter valued at $36,000. Finally, FinTrust Capital Advisors LLC acquired a new stake in shares of NextEra Energy Partners in the first quarter worth $45,000. Institutional investors own 66.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on NEP shares. Raymond James downgraded NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. BMO Capital Markets decreased their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a report on Monday, July 22nd. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Finally, Wolfe Research cut shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $33.00.

NextEra Energy Partners Stock Up 1.8 %

Shares of NextEra Energy Partners stock opened at $25.78 on Tuesday. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $51.04. The stock has a market capitalization of $2.41 billion, a P/E ratio of 8.45 and a beta of 1.05. 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 stock has a 50 day moving average price of $25.70 and a two-hundred day moving average price of $28.27.

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. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. NextEra Energy Partners’s revenue was up 22.9% compared to the same quarter last year. During the same period last year, the business posted $0.53 EPS. Equities analysts expect that NextEra Energy Partners, LP will post 1.74 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were given a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a dividend yield of 14.04%. The ex-dividend date of this dividend was Tuesday, August 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s payout ratio is currently 118.69%.

About NextEra Energy Partners

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.