Wealthcare Advisory Partners LLC Takes $211,000 Position in NextEra Energy Partners, LP (NYSE:NEP)

Wealthcare Advisory Partners LLC bought a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 11,841 shares of the solar energy provider’s stock, valued at approximately $211,000.

A number of other institutional investors and hedge funds have also bought and sold shares of NEP. Northwestern Mutual Wealth Management Co. boosted its position in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the period. EverSource Wealth Advisors LLC bought a new stake in NextEra Energy Partners in the 2nd quarter valued at about $51,000. Eastern Bank acquired a new position in shares of NextEra Energy Partners during the 3rd quarter worth approximately $57,000. McIlrath & Eck LLC acquired a new stake in shares of NextEra Energy Partners in the third quarter valued at approximately $63,000. Finally, Central Pacific Bank Trust Division raised its position in shares of NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after buying an additional 3,750 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on NEP. Barclays reissued an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a research report on Friday, October 4th. UBS Group decreased their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $37.00 to $22.00 in a research report on Monday, October 28th. Mizuho decreased their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Monday, December 2nd. Three analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $24.64.

NextEra Energy Partners Price Performance

Shares of NEP opened at $15.95 on Thursday. The business has a 50-day simple moving average of $17.53 and a two-hundred day simple moving average of $22.21. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The stock has a market cap of $1.49 billion, a PE ratio of 7.32 and a beta of 1.06. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results 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 for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.57 earnings per share. Analysts anticipate that NextEra Energy Partners, LP will post 2.06 earnings per share for the current fiscal year.

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.