Ninety One UK Ltd Sells 27,824 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Ninety One UK Ltd lessened its stake in NextEra Energy Partners, LP (NYSE:NEP) by 11.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 210,263 shares of the solar energy provider’s stock after selling 27,824 shares during the period. Ninety One UK Ltd owned about 0.23% of NextEra Energy Partners worth $6,394,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of NEP. MV Capital Management Inc. bought a new stake in shares of NextEra Energy Partners in the 4th quarter valued at about $30,000. ORG Partners LLC lifted its stake in shares of NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 670 shares during the last quarter. Parkside Financial Bank & Trust lifted its stake in shares of NextEra Energy Partners by 60.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after acquiring an additional 454 shares during the last quarter. Global Wealth Management Investment Advisory Inc. bought a new stake in shares of NextEra Energy Partners in the 1st quarter valued at about $36,000. Finally, Lazard Asset Management LLC lifted its stake in shares of NextEra Energy Partners by 69.6% in the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after acquiring an additional 224 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Down 1.1 %

NEP stock opened at $27.07 on Friday. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $64.43. The business’s 50 day moving average price is $28.33 and its two-hundred day moving average price is $27.18. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33. The company has a market capitalization of $2.53 billion, a price-to-earnings ratio of 12.71 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.38). The company had revenue of $232.00 million during the quarter, compared to analysts’ expectations of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. As a group, analysts forecast that NextEra Energy Partners, LP will post 0.9 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were paid a $0.88 dividend. The ex-dividend date was Monday, February 5th. This represents a $3.52 annualized dividend and a dividend yield of 13.00%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. NextEra Energy Partners’s dividend payout ratio is presently 165.26%.

Wall Street Analysts Forecast Growth

A number of research firms have commented on NEP. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Raymond James lowered their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Barclays began coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price target for the company. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Finally, JPMorgan Chase & Co. upped their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $43.88.

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.