NextEra Energy Partners, LP (NYSE:NEP) Shares Acquired by Pathway Financial Advisers LLC

Pathway Financial Advisers LLC lifted its stake in NextEra Energy Partners, LP (NYSE:NEP) by 3.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 50,110 shares of the solar energy provider’s stock after purchasing an additional 1,747 shares during the quarter. Pathway Financial Advisers LLC’s holdings in NextEra Energy Partners were worth $1,384,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. ClearBridge Investments Ltd increased its holdings in shares of NextEra Energy Partners by 6.4% in the first 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. M&G Plc purchased a new position in NextEra Energy Partners in the first quarter worth approximately $83,069,000. abrdn plc grew its position in NextEra Energy Partners by 6.2% in the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock worth $23,483,000 after acquiring an additional 49,400 shares during the period. Raymond James & Associates grew its position in NextEra Energy Partners by 6.2% in the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock worth $22,172,000 after acquiring an additional 46,718 shares during the period. Finally, Redwood Grove Capital LLC grew its position in NextEra Energy Partners by 0.9% in the first quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock worth $23,359,000 after acquiring an additional 7,200 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Trading Down 0.5 %

NYSE:NEP opened at $19.18 on Thursday. The firm has a market cap of $1.79 billion, a PE ratio of 8.80 and a beta of 1.06. The stock has a fifty day moving average price of $25.21 and a 200 day moving average price of $27.53. NextEra Energy Partners, LP has a 12-month low of $19.16 and a 12-month high of $35.15. 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 (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 net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. Sell-side analysts anticipate that NextEra Energy Partners, LP will post 1.77 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.9175 per share. The ex-dividend date is Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 19.13%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is 166.06%.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on NEP. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Jefferies Financial Group lowered their price objective on 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. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and lowered their price objective for the stock from $25.00 to $22.00 in a research report on Thursday, October 24th. BNP Paribas started coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target for the company. Finally, CIBC lowered their price target on NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday, October 22nd. Four equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.69.

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.