Pathway Financial Advisers LLC Acquires 1,747 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Pathway Financial Advisers LLC lifted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 3.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,110 shares of the solar energy provider’s stock after purchasing an additional 1,747 shares during the quarter. Pathway Financial Advisers LLC owned 0.05% of NextEra Energy Partners worth $1,384,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Assenagon Asset Management S.A. raised its position in NextEra Energy Partners by 7.4% in the 3rd quarter. Assenagon Asset Management S.A. now owns 108,578 shares of the solar energy provider’s stock worth $2,999,000 after buying an additional 7,501 shares during the last quarter. Pinnacle West Asset Management Inc. grew its stake in shares of NextEra Energy Partners by 27.7% in the third quarter. Pinnacle West Asset Management Inc. now owns 11,075 shares of the solar energy provider’s stock worth $306,000 after acquiring an additional 2,400 shares during the period. International Assets Investment Management LLC raised its holdings in shares of NextEra Energy Partners by 2,514.3% during the third quarter. International Assets Investment Management LLC now owns 98,142 shares of the solar energy provider’s stock valued at $2,711,000 after purchasing an additional 94,388 shares during the last quarter. Eastern Bank purchased a new position in shares of NextEra Energy Partners during the third quarter valued at approximately $57,000. Finally, Brown Miller Wealth Management LLC lifted its position 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 valued at $509,000 after purchasing an additional 433 shares during the period. 66.01% of the stock is owned by institutional investors.

NextEra Energy Partners Stock Up 0.5 %

NEP opened at $21.10 on Friday. NextEra Energy Partners, LP has a fifty-two week low of $20.28 and a fifty-two week high of $35.15. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 6.64 and a beta of 1.06. The firm’s fifty day moving average is $25.44 and its 200 day moving average is $27.65.

NextEra Energy Partners (NYSE:NEP) last announced 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). The business had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 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 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 earnings per share. On average, sell-side analysts forecast that NextEra Energy Partners, LP will post 2.2 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th will be issued a dividend of $0.9175 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a yield of 17.39%. The ex-dividend date is Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is 113.84%.

Analyst Ratings Changes

A number of equities research analysts have commented on the stock. Barclays reaffirmed an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research report on Friday, October 4th. Mizuho reduced their price objective on 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. Evercore ISI lowered their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group cut their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research note on Thursday. Finally, Wolfe Research cut shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target 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.