Creative Planning Has $313,000 Position in NextEra Energy Partners, LP (NYSE:NEP)

Creative Planning grew its position in NextEra Energy Partners, LP (NYSE:NEP) by 15.2% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 11,307 shares of the solar energy provider’s stock after purchasing an additional 1,490 shares during the quarter. Creative Planning’s holdings in NextEra Energy Partners were worth $313,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. M&G Plc bought a new stake in shares of NextEra Energy Partners during the 1st quarter valued at approximately $83,069,000. Commerce Bank bought a new stake in shares of NextEra Energy Partners during the 1st quarter valued at approximately $15,597,000. Swedbank AB bought a new stake in shares of NextEra Energy Partners during the 1st quarter valued at approximately $9,927,000. ClearBridge Investments Ltd grew its holdings in shares of NextEra Energy Partners by 6.4% during the 1st quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock valued at $125,176,000 after purchasing an additional 250,456 shares during the last quarter. Finally, Fred Alger Management LLC bought a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $5,452,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on NEP. Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and reduced their target price for the stock from $38.00 to $30.00 in a report on Monday, July 1st. UBS Group reduced their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Wolfe Research downgraded shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Finally, Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $29.54.

NextEra Energy Partners Trading Down 1.6 %

Shares of NYSE:NEP opened at $26.02 on Friday. The stock has a 50 day moving average of $25.62 and a 200 day moving average of $27.92. The company has a market cap of $2.43 billion, a PE ratio of 8.53 and a beta of 1.06. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. NextEra Energy Partners, LP has a 12-month low of $21.70 and a 12-month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.53 EPS. As a group, equities research analysts expect that NextEra Energy Partners, LP will post 2.2 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a yield of 13.91%. The ex-dividend date of this dividend was Tuesday, August 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is presently 118.69%.

NextEra Energy Partners Profile

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.