InTrack Investment Management Inc Increases Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

InTrack Investment Management Inc grew its stake in NextEra Energy Partners, LP (NYSE:NEP) by 23.1% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,275 shares of the solar energy provider’s stock after purchasing an additional 2,114 shares during the period. InTrack Investment Management Inc’s holdings in NextEra Energy Partners were worth $339,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the stock. CWM LLC grew its position in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. Richardson Financial Services Inc. acquired a new stake in shares of NextEra Energy Partners in the 4th quarter worth $27,000. Hexagon Capital Partners LLC boosted its holdings in shares of NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after acquiring an additional 627 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of NextEra Energy Partners during the fourth quarter worth about $30,000. Finally, Heritage Wealth Advisors purchased a new position in NextEra Energy Partners during the fourth quarter worth about $33,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on NEP. Barclays lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $32.00 to $25.00 in a report on Thursday, June 13th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research report on Wednesday, June 12th. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Finally, Oppenheimer reaffirmed a “market perform” rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $38.20.

NextEra Energy Partners Price Performance

NEP stock traded up $0.09 during trading on Tuesday, hitting $25.30. The stock had a trading volume of 2,701,048 shares, compared to its average volume of 1,451,684. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 8.30 and a beta of 1.04. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36. The company’s 50 day moving average price is $30.82 and its two-hundred day moving average price is $29.45. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $59.90.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same quarter in the previous year, the business posted ($0.17) earnings per share. The company’s revenue was up 4.9% on a year-over-year basis. On average, sell-side analysts forecast that NextEra Energy Partners, LP will post 1.89 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th were paid a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 14.11%. The ex-dividend date of this dividend was Monday, May 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s dividend payout ratio is currently 117.05%.

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.