Barclays PLC Increases Position in NextEra Energy Partners, LP (NYSE:NEP)

Barclays PLC increased its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 41.1% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,315 shares of the solar energy provider’s stock after purchasing an additional 6,205 shares during the quarter. Barclays PLC’s holdings in NextEra Energy Partners were worth $589,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in NextEra Energy Partners by 3.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 37,281 shares of the solar energy provider’s stock valued at $1,030,000 after acquiring an additional 1,222 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of NextEra Energy Partners by 20.1% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 11,441 shares of the solar energy provider’s stock valued at $316,000 after purchasing an additional 1,916 shares during the last quarter. Arizona State Retirement System boosted its position in shares of NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after purchasing an additional 509 shares in the last quarter. Otter Creek Advisors LLC grew its stake in NextEra Energy Partners by 28.1% during the 2nd quarter. Otter Creek Advisors LLC now owns 105,923 shares of the solar energy provider’s stock worth $2,928,000 after buying an additional 23,239 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. increased its position in NextEra Energy Partners by 21.7% during 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 in the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 1.2 %

Shares of NYSE:NEP opened at $17.80 on Thursday. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The business has a 50 day moving average of $17.95 and a two-hundred day moving average of $23.23. The company has a market capitalization of $1.66 billion, a PE ratio of 8.17 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. As a group, analysts forecast that NextEra Energy Partners, LP will post 1.96 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were paid 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 annualized dividend and a dividend yield of 20.62%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio is presently 168.35%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NEP. Evercore ISI lowered their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. CIBC dropped their target price on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 22nd. Jefferies Financial Group cut their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Finally, BMO Capital Markets cut their target price on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $26.00.

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, 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.