BlackRock Inc. Has $4.35 Million Holdings in Nextera Energy Partners LP (NYSE:NEP)

BlackRock Inc. cut its holdings in shares of Nextera Energy Partners LP (NYSE:NEP) by 95.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 90,238 shares of the solar energy provider’s stock after selling 2,066,068 shares during the quarter. BlackRock Inc. owned 0.16% of Nextera Energy Partners worth $4,354,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. FMR LLC boosted its stake in shares of Nextera Energy Partners by 20.8% in the first quarter. FMR LLC now owns 1,784,636 shares of the solar energy provider’s stock valued at $83,236,000 after purchasing an additional 307,378 shares during the period. First Trust Advisors LP boosted its stake in shares of Nextera Energy Partners by 4.0% in the first quarter. First Trust Advisors LP now owns 54,619 shares of the solar energy provider’s stock valued at $2,547,000 after purchasing an additional 2,079 shares during the period. Dividend Assets Capital LLC boosted its stake in shares of Nextera Energy Partners by 108.9% in the second quarter. Dividend Assets Capital LLC now owns 85,285 shares of the solar energy provider’s stock valued at $4,115,000 after purchasing an additional 44,460 shares during the period. Coastline Trust Co purchased a new position in shares of Nextera Energy Partners in the second quarter valued at approximately $625,000. Finally, Flagship Harbor Advisors LLC boosted its stake in shares of Nextera Energy Partners by 107.5% in the second quarter. Flagship Harbor Advisors LLC now owns 2,004 shares of the solar energy provider’s stock valued at $96,000 after purchasing an additional 1,038 shares during the period. Hedge funds and other institutional investors own 80.82% of the company’s stock.

Shares of Nextera Energy Partners stock opened at $52.14 on Friday. Nextera Energy Partners LP has a 52-week low of $39.35 and a 52-week high of $53.90. The company has a 50 day moving average of $51.59 and a 200 day moving average of $48.73. The company has a quick ratio of 1.38, a current ratio of 1.38 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $2.94 billion, a P/E ratio of 17.92, a P/E/G ratio of 14.83 and a beta of 0.91.

Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($1.61). Nextera Energy Partners had a negative return on equity of 2.55% and a negative net margin of 16.67%. The firm had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $354.51 million. During the same quarter in the prior year, the firm earned $0.58 EPS. As a group, research analysts anticipate that Nextera Energy Partners LP will post 0.38 earnings per share for the current fiscal year.

Several research firms have recently commented on NEP. Credit Suisse Group raised their price objective on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Co raised their price objective on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. ValuEngine lowered shares of Nextera Energy Partners from a “sell” rating to a “strong sell” rating in a research note on Thursday. Zacks Investment Research raised shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research note on Thursday, October 3rd. Finally, Barclays raised shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $52.00 to $61.00 in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, two have given a hold rating and five have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $54.00.

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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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Institutional Ownership by Quarter for Nextera Energy Partners (NYSE:NEP)

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