Miller Howard Investments Inc. NY cut its stake in Nextera Energy Partners LP (NYSE:NEP) by 22.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 56,694 shares of the solar energy provider’s stock after selling 16,815 shares during the period. Miller Howard Investments Inc. NY owned about 0.10% of Nextera Energy Partners worth $2,750,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James & Associates grew its holdings in Nextera Energy Partners by 694.9% during the 2nd quarter. Raymond James & Associates now owns 514,192 shares of the solar energy provider’s stock worth $23,997,000 after acquiring an additional 449,505 shares in the last quarter. CHURCHILL MANAGEMENT Corp bought a new position in Nextera Energy Partners during the 2nd quarter worth about $18,564,000. Millennium Management LLC grew its holdings in Nextera Energy Partners by 90.1% during the 1st quarter. Millennium Management LLC now owns 323,364 shares of the solar energy provider’s stock worth $12,931,000 after acquiring an additional 153,275 shares in the last quarter. Bank of Montreal Can grew its holdings in Nextera Energy Partners by 140.8% during the 2nd quarter. Bank of Montreal Can now owns 158,950 shares of the solar energy provider’s stock worth $7,418,000 after acquiring an additional 92,950 shares in the last quarter. Finally, Renaissance Technologies LLC bought a new position in Nextera Energy Partners during the 2nd quarter worth about $3,440,000. Hedge funds and other institutional investors own 83.68% of the company’s stock.
Several research analysts have issued reports on the stock. TheStreet upgraded shares of Nextera Energy Partners from a “c” rating to a “b-” rating in a report on Wednesday, July 25th. Bank of America cut shares of Nextera Energy Partners from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Zacks Investment Research cut shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Monday. Howard Weil reiterated a “sector perform” rating on shares of Nextera Energy Partners in a report on Tuesday, July 24th. Finally, Guggenheim reissued a “buy” rating and set a $50.00 price target on shares of Nextera Energy Partners in a research report on Monday, July 23rd. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Nextera Energy Partners has a consensus rating of “Hold” and a consensus target price of $47.50.
Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, October 23rd. The solar energy provider reported $0.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.45 by $0.13. The business had revenue of $178.00 million during the quarter, compared to analyst estimates of $283.40 million. Nextera Energy Partners had a net margin of 13.55% and a return on equity of 7.34%. Analysts predict that Nextera Energy Partners LP will post 3.11 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Tuesday, November 6th will be given a dividend of $0.45 per share. This represents a $1.80 annualized dividend and a dividend yield of 4.03%. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, November 5th. Nextera Energy Partners’s dividend payout ratio is presently 265.15%.
Nextera Energy Partners Company Profile
NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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