Lehman Financial Resources Inc. reduced its position in Nextera Energy Partners LP (NYSE:NEP) by 11.2% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 440,083 shares of the solar energy provider’s stock after selling 55,281 shares during the period. Nextera Energy Partners accounts for approximately 10.4% of Lehman Financial Resources Inc.’s portfolio, making the stock its 2nd largest holding. Lehman Financial Resources Inc. owned approximately 0.81% of Nextera Energy Partners worth $20,538,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in the stock. Global X Management Co. LLC grew its holdings in Nextera Energy Partners by 58.5% during the 1st quarter. Global X Management Co. LLC now owns 39,134 shares of the solar energy provider’s stock valued at $1,565,000 after buying an additional 14,447 shares in the last quarter. Wells Fargo & Company MN grew its holdings in Nextera Energy Partners by 1.6% during the 1st quarter. Wells Fargo & Company MN now owns 183,741 shares of the solar energy provider’s stock valued at $7,348,000 after buying an additional 2,925 shares in the last quarter. Kayne Anderson Capital Advisors LP grew its holdings in Nextera Energy Partners by 36.1% during the 1st quarter. Kayne Anderson Capital Advisors LP now owns 653,075 shares of the solar energy provider’s stock valued at $26,103,000 after buying an additional 173,081 shares in the last quarter. Trexquant Investment LP purchased a new position in Nextera Energy Partners during the 1st quarter valued at about $263,000. Finally, Massachusetts Financial Services Co. MA grew its holdings in Nextera Energy Partners by 0.4% during the 1st quarter. Massachusetts Financial Services Co. MA now owns 2,252,813 shares of the solar energy provider’s stock valued at $90,090,000 after buying an additional 10,037 shares in the last quarter. Institutional investors and hedge funds own 83.68% of the company’s stock.
Shares of NYSE NEP traded up $0.15 during midday trading on Wednesday, hitting $48.54. 9,935 shares of the company’s stock were exchanged, compared to its average volume of 234,079. Nextera Energy Partners LP has a 12-month low of $36.42 and a 12-month high of $50.66. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 1.05. The firm has a market capitalization of $2.63 billion, a price-to-earnings ratio of 73.54, a PEG ratio of 1.95 and a beta of 1.20.
Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, July 25th. The solar energy provider reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.95. Nextera Energy Partners had a return on equity of 6.86% and a net margin of 8.88%. The company had revenue of $225.00 million during the quarter, compared to analyst estimates of $278.31 million. analysts predict that Nextera Energy Partners LP will post 2.77 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, August 14th. Stockholders of record on Monday, August 6th were issued a dividend of $0.4375 per share. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.42. The ex-dividend date was Friday, August 3rd. This represents a $1.75 annualized dividend and a dividend yield of 3.61%. Nextera Energy Partners’s payout ratio is presently 265.15%.
A number of research analysts have weighed in on NEP shares. Raymond James lowered Nextera Energy Partners from an “outperform” rating to a “market perform” rating and set a $35.00 target price for the company. in a report on Thursday, July 5th. ValuEngine lowered Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Nextera Energy Partners from a “hold” rating to a “strong-buy” rating and set a $53.00 target price for the company in a report on Wednesday, June 27th. Howard Weil reaffirmed a “sector perform” rating on shares of Nextera Energy Partners in a report on Tuesday, July 24th. Finally, Morgan Stanley lowered Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a report on Monday, July 16th. Seven equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $45.39.
Nextera Energy Partners Profile
NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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