FNY Investment Advisers LLC Raises Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

FNY Investment Advisers LLC grew its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 309.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,022 shares of the solar energy provider’s stock after buying an additional 17,402 shares during the quarter. FNY Investment Advisers LLC’s holdings in NextEra Energy Partners were worth $409,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in NEP. Thrivent Financial for Lutherans acquired a new stake in shares of NextEra Energy Partners in the third quarter worth approximately $16,186,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners during the 3rd quarter worth $15,310,000. M&G PLC grew its holdings in shares of NextEra Energy Partners by 19.3% during 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 in the last quarter. Fred Alger Management LLC acquired a new stake in shares of NextEra Energy Partners in the second quarter valued at about $5,452,000. Finally, Redwood Grove Capital LLC lifted its stake in shares of NextEra Energy Partners by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after buying an additional 161,436 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Wall Street Analyst Weigh In

NEP has been the topic of a number of research reports. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and decreased their target price for the stock from $25.00 to $22.00 in a research note on Thursday, October 24th. BMO Capital Markets restated a “market perform” rating and issued a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a report on Monday. Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Monday, December 2nd. Evercore ISI cut their price objective on shares of 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. Finally, Scotiabank decreased their target price on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $24.64.

NextEra Energy Partners Stock Performance

NYSE:NEP opened at $17.39 on Tuesday. The company has a market cap of $1.63 billion, a price-to-earnings ratio of 7.98 and a beta of 1.06. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners, LP has a 52 week low of $15.55 and a 52 week high of $35.15. The company has a fifty day simple moving average of $17.74 and a two-hundred day simple moving average of $22.73.

NextEra Energy Partners (NYSE:NEP) last released its 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 negative return on equity of 1.07% and a net margin of 17.47%. The firm had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. During the same quarter in the previous year, the company posted $0.57 earnings per share. The firm’s quarterly revenue was up 3.6% on a year-over-year basis. As a group, equities analysts anticipate that NextEra Energy Partners, LP will post 1.96 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were issued a $0.9175 dividend. This represents a $3.67 annualized dividend and a yield of 21.10%. 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 dividend payout ratio is 168.35%.

NextEra Energy Partners 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.