Pinnacle West Asset Management Inc. Raises Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Pinnacle West Asset Management Inc. lifted its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 27.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 11,075 shares of the solar energy provider’s stock after buying an additional 2,400 shares during the period. Pinnacle West Asset Management Inc.’s holdings in NextEra Energy Partners were worth $306,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Hexagon Capital Partners LLC raised its stake in shares of 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 buying an additional 627 shares in the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of NextEra Energy Partners during the 1st quarter worth approximately $36,000. FinTrust Capital Advisors LLC purchased a new position in shares of NextEra Energy Partners during the 1st quarter worth approximately $45,000. Larson Financial Group LLC acquired a new stake in shares of NextEra Energy Partners in the 1st quarter worth approximately $48,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings in shares of NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Trading Down 1.0 %

Shares of NEP traded down $0.21 during trading hours on Thursday, hitting $20.80. The stock had a trading volume of 2,828,914 shares, compared to its average volume of 1,443,757. The company’s fifty day simple moving average is $25.61 and its 200 day simple moving average is $27.77. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. NextEra Energy Partners, LP has a 12-month low of $20.69 and a 12-month high of $35.15. The firm has a market cap of $1.95 billion, a P/E ratio of 6.88 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. During the same period last year, the business earned $0.57 earnings per share. The company’s revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts forecast that NextEra Energy Partners, LP will post 2.2 EPS for the current fiscal year.

Analyst Ratings Changes

NEP has been the topic of a number of research reports. Jefferies Financial Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday. Evercore ISI lowered their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and lowered their price target for the stock from $25.00 to $22.00 in a report on Thursday. BNP Paribas began coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price on the stock. Finally, Barclays reiterated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $27.85.

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.