M&G Plc Purchases 496,383 Shares of NextEra Energy Partners, LP (NYSE:NEP)

M&G Plc boosted its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 19.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,062,083 shares of the solar energy provider’s stock after purchasing an additional 496,383 shares during the quarter. M&G Plc owned about 3.27% of NextEra Energy Partners worth $85,738,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEP. Private Advisor Group LLC bought a new stake in NextEra Energy Partners during the 1st quarter worth about $679,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in NextEra Energy Partners by 22.2% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,644 shares of the solar energy provider’s stock worth $1,223,000 after purchasing an additional 7,372 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in NextEra Energy Partners by 716.5% during the 1st quarter. BNP Paribas Financial Markets now owns 30,145 shares of the solar energy provider’s stock worth $907,000 after purchasing an additional 26,453 shares during the last quarter. Central Pacific Bank Trust Division bought a new stake in NextEra Energy Partners during the 1st quarter worth about $36,000. Finally, Larson Financial Group LLC bought a new stake in NextEra Energy Partners during the 1st quarter worth about $48,000. 66.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently issued reports on NEP. Barclays restated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research report on Friday, October 4th. Evercore ISI decreased their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. BNP Paribas began coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price for the company. Jefferies Financial Group decreased their target price 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. Finally, CIBC decreased their target price 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 analysts have rated the stock with a sell rating, ten have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $26.69.

NextEra Energy Partners Trading Down 6.0 %

NYSE:NEP opened at $18.52 on Thursday. NextEra Energy Partners, LP has a twelve month low of $17.94 and a twelve month high of $35.15. 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 business has a 50 day moving average price of $24.51 and a two-hundred day moving average price of $27.20. The company has a market cap of $1.73 billion, a P/E ratio of 8.50 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. During the same quarter in the prior year, the company earned $0.57 EPS. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts expect that NextEra Energy Partners, LP will post 1.45 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be paid a dividend of $0.9175 per share. The ex-dividend date of this dividend is Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 19.82%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio is currently 166.06%.

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.