Healthcare of Ontario Pension Plan Trust Fund Increases Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Healthcare of Ontario Pension Plan Trust Fund increased its position in NextEra Energy Partners, LP (NYSE:NEP) by 14.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 99,072 shares of the solar energy provider’s stock after purchasing an additional 12,412 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund’s holdings in NextEra Energy Partners were worth $2,980,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its holdings in shares of NextEra Energy Partners by 3.9% in the third quarter. Vanguard Group Inc. now owns 619,780 shares of the solar energy provider’s stock valued at $18,407,000 after acquiring an additional 23,008 shares in the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in shares of NextEra Energy Partners by 26.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 166,588 shares of the solar energy provider’s stock valued at $5,066,000 after purchasing an additional 34,553 shares in the last quarter. A. D. Beadell Investment Counsel Inc. increased its holdings in NextEra Energy Partners by 6.5% during the fourth quarter. A. D. Beadell Investment Counsel Inc. now owns 113,496 shares of the solar energy provider’s stock valued at $3,451,000 after buying an additional 6,956 shares during the period. Kaizen Financial Strategies bought a new position in NextEra Energy Partners in the fourth quarter worth approximately $252,000. Finally, Brown Miller Wealth Management LLC lifted its holdings in NextEra Energy Partners by 8.8% during the fourth quarter. Brown Miller Wealth Management LLC now owns 12,487 shares of the solar energy provider’s stock worth $380,000 after buying an additional 1,014 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on NEP. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Thursday, May 23rd. BMO Capital Markets decreased their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday. Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Wednesday, June 12th. Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday. Finally, Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and a consensus price target of $36.93.

NextEra Energy Partners Trading Down 5.7 %

Shares of NextEra Energy Partners stock opened at $25.92 on Friday. The firm has a 50-day simple moving average of $29.75 and a two-hundred day simple moving average of $29.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $57.29. The company has a market cap of $2.42 billion, a P/E ratio of 8.50 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The company had revenue of $360.00 million during 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%. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 EPS. As a group, equities analysts predict that NextEra Energy Partners, LP will post 1.85 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th will be paid a dividend of $0.905 per share. This represents a $3.62 annualized dividend and a dividend yield of 13.97%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. The ex-dividend date of this dividend is Tuesday, August 6th. NextEra Energy Partners’s dividend payout ratio is presently 117.05%.

NextEra Energy Partners Company 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.