Sanctuary Advisors LLC Has $678,000 Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Sanctuary Advisors LLC lifted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 11.0% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 24,540 shares of the solar energy provider’s stock after acquiring an additional 2,437 shares during the period. Sanctuary Advisors LLC’s holdings in NextEra Energy Partners were worth $678,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Thrivent Financial for Lutherans acquired a new position in shares of NextEra Energy Partners during the 3rd quarter worth approximately $16,186,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners during the third quarter worth approximately $15,310,000. M&G PLC grew its position in NextEra Energy Partners by 19.3% during the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after buying an additional 496,383 shares in the last quarter. Fred Alger Management LLC bought a new position in NextEra Energy Partners during the 2nd quarter worth $5,452,000. Finally, Redwood Grove Capital LLC raised its holdings in NextEra Energy Partners by 19.7% in the 3rd quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock valued at $27,129,000 after acquiring an additional 161,436 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on NEP shares. Evercore ISI reduced their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. UBS Group decreased 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. BNP Paribas began coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target for the company. CIBC reduced their price target 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. Finally, Jefferies Financial Group lowered their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Three equities research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $26.00.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $17.78 on Wednesday. The firm has a market capitalization of $1.66 billion, a P/E ratio of 8.16 and a beta of 1.07. The firm’s 50-day moving average price is $18.98 and its 200-day moving average price is $23.83. 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 1-year low of $15.55 and a 1-year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same period last year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 3.6% compared to the same quarter last year. Equities research analysts anticipate that NextEra Energy Partners, LP will post 1.96 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were issued a $0.9175 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a dividend yield of 20.64%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 168.35%.

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.