NextEra Energy Partners, LP (NYSE:NEP) Position Decreased by Commerce Bank

Commerce Bank reduced its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 77.3% during the third quarter, Holdings Channel reports. The firm owned 117,995 shares of the solar energy provider’s stock after selling 400,828 shares during the period. Commerce Bank’s holdings in NextEra Energy Partners were worth $3,259,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. M&G PLC grew its position in NextEra Energy Partners by 19.3% in 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 during the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of NextEra Energy Partners in the 3rd quarter worth $16,186,000. International Assets Investment Management LLC grew its holdings in shares of NextEra Energy Partners by 2,514.3% in the 3rd quarter. International Assets Investment Management LLC now owns 98,142 shares of the solar energy provider’s stock worth $2,711,000 after acquiring an additional 94,388 shares during the last quarter. Vanguard Group Inc. raised its position in shares of NextEra Energy Partners by 3.6% during the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock worth $19,127,000 after purchasing an additional 22,370 shares during the period. Finally, Marshall Wace LLP purchased a new stake in shares of NextEra Energy Partners during the second quarter valued at $638,000. 66.01% of the stock is currently owned by institutional investors.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $16.79 on Friday. NextEra Energy Partners, LP has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The stock’s 50-day moving average is $22.72 and its two-hundred day moving average is $26.27. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The firm has a market cap of $1.57 billion, a P/E ratio of 7.70 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. Analysts predict that NextEra Energy Partners, LP will post 1.36 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a $0.9175 dividend. This represents a $3.67 annualized dividend and a dividend yield of 21.86%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is presently 168.35%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. BNP Paribas assumed coverage on NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target on the stock. Morgan Stanley downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Mizuho reduced their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and decreased their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, October 24th. Finally, Jefferies Financial Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus target price 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.