NextEra Energy Partners, LP (NYSE:NEP) Shares Purchased by Quantbot Technologies LP

Quantbot Technologies LP raised its position in NextEra Energy Partners, LP (NYSE:NEP) by 83.4% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 149,718 shares of the solar energy provider’s stock after buying an additional 68,084 shares during the quarter. Quantbot Technologies LP owned about 0.16% of NextEra Energy Partners worth $4,138,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the company. Johnson Investment Counsel Inc. raised its holdings in NextEra Energy Partners by 18.8% during the second quarter. Johnson Investment Counsel Inc. now owns 39,827 shares of the solar energy provider’s stock worth $1,101,000 after purchasing an additional 6,315 shares in the last quarter. Headlands Technologies LLC lifted its holdings in shares of NextEra Energy Partners by 201.4% in the 2nd quarter. Headlands Technologies LLC now owns 43,287 shares of the solar energy provider’s stock valued at $1,196,000 after buying an additional 28,923 shares during the period. Pinnacle West Asset Management Inc. lifted its holdings in shares of NextEra Energy Partners by 21.7% in the 2nd quarter. Pinnacle West Asset Management Inc. now owns 8,675 shares of the solar energy provider’s stock valued at $240,000 after buying an additional 1,545 shares during the period. Otter Creek Advisors LLC boosted its stake in shares of NextEra Energy Partners by 28.1% in the second quarter. Otter Creek Advisors LLC now owns 105,923 shares of the solar energy provider’s stock valued at $2,928,000 after buying an additional 23,239 shares in the last quarter. Finally, Arizona State Retirement System raised its position in NextEra Energy Partners by 2.0% in the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after acquiring an additional 509 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have commented on NEP. Barclays lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. Royal Bank of Canada lowered NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Finally, Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $33.00.

NextEra Energy Partners Stock Performance

NYSE:NEP opened at $25.78 on Tuesday. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $51.04. The firm has a 50 day simple moving average of $25.70 and a 200-day simple moving average of $28.27. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The firm has a market cap of $2.41 billion, a PE ratio of 8.45 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly 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. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm had revenue of $360.00 million during the quarter, compared to the consensus estimate of $365.54 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities analysts expect that NextEra Energy Partners, LP will post 1.74 EPS for the current year.

NextEra Energy Partners Increases Dividend

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