Clear Harbor Asset Management LLC Takes $1.51 Million Position in NextEra Energy Partners, LP (NYSE:NEP)

Clear Harbor Asset Management LLC bought a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) in the 4th quarter, Holdings Channel reports. The fund bought 84,762 shares of the solar energy provider’s stock, valued at approximately $1,509,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Wealthcare Advisory Partners LLC acquired a new position in shares of NextEra Energy Partners in the fourth quarter valued at approximately $211,000. Assenagon Asset Management S.A. increased its holdings in shares of NextEra Energy Partners by 59.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 173,251 shares of the solar energy provider’s stock worth $3,084,000 after purchasing an additional 64,673 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of NextEra Energy Partners in the fourth quarter valued at approximately $219,000. 180 Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners in the fourth quarter valued at approximately $368,000. Finally, FNY Investment Advisers LLC grew its position in NextEra Energy Partners by 309.6% during the fourth quarter. FNY Investment Advisers LLC now owns 23,022 shares of the solar energy provider’s stock worth $409,000 after buying an additional 17,402 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $17.09 on Tuesday. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $1.60 billion, a PE ratio of 7.84 and a beta of 1.06. The firm has a fifty day simple moving average of $17.53 and a 200 day simple moving average of $22.32. NextEra Energy Partners, LP has a twelve month low of $15.55 and a twelve month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last announced 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 the consensus estimate of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. On average, sell-side analysts forecast that NextEra Energy Partners, LP will post 2.06 EPS for the current year.

Wall Street Analyst Weigh In

NEP has been the subject of several analyst reports. Barclays reaffirmed an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Jefferies Financial Group cut 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. Evercore ISI decreased their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price target for the stock from $25.00 to $22.00 in a report on Thursday, October 24th. Finally, Guggenheim cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $37.00 to $22.00 in a research note on Monday, October 28th. Three research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has an average rating of “Hold” and a consensus price target of $24.64.

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.