James Investment Research Inc. acquired a new position in shares of Nextera Energy Partners LP (NYSE:NEP) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 3,115 shares of the solar energy provider’s stock, valued at approximately $151,000.
Several other large investors have also added to or reduced their stakes in the company. Jennison Associates LLC boosted its position in shares of Nextera Energy Partners by 1.9% during the 2nd quarter. Jennison Associates LLC now owns 2,364,375 shares of the solar energy provider’s stock worth $110,345,000 after acquiring an additional 43,278 shares in the last quarter. Morgan Stanley boosted its position in shares of Nextera Energy Partners by 1.6% during the 2nd quarter. Morgan Stanley now owns 762,544 shares of the solar energy provider’s stock worth $35,589,000 after acquiring an additional 11,685 shares in the last quarter. Raymond James & Associates boosted its position in shares of Nextera Energy Partners by 694.9% in the 2nd quarter. Raymond James & Associates now owns 514,192 shares of the solar energy provider’s stock valued at $23,997,000 after purchasing an additional 449,505 shares during the period. CHURCHILL MANAGEMENT Corp acquired a new stake in shares of Nextera Energy Partners in the 2nd quarter valued at about $18,564,000. Finally, Doyle Wealth Management boosted its position in shares of Nextera Energy Partners by 2.7% in the 2nd quarter. Doyle Wealth Management now owns 254,783 shares of the solar energy provider’s stock valued at $11,891,000 after purchasing an additional 6,712 shares during the period. 80.73% of the stock is owned by institutional investors and hedge funds.
Nextera Energy Partners stock opened at $45.95 on Tuesday. Nextera Energy Partners LP has a twelve month low of $36.84 and a twelve month high of $50.66. The company has a quick ratio of 5.54, a current ratio of 5.54 and a debt-to-equity ratio of 1.00. The company has a market cap of $2.59 billion, a price-to-earnings ratio of 69.62, a P/E/G ratio of 1.65 and a beta of 1.17.
Nextera Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Tuesday, October 23rd. The solar energy provider reported $0.58 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.13. Nextera Energy Partners had a return on equity of 7.34% and a net margin of 13.55%. The company had revenue of $178.00 million during the quarter, compared to analysts’ expectations of $283.40 million. As a group, research analysts forecast that Nextera Energy Partners LP will post 3.11 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 14th. Shareholders of record on Tuesday, November 6th will be given a dividend of $0.45 per share. This represents a $1.80 dividend on an annualized basis and a yield of 3.92%. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend is Monday, November 5th. Nextera Energy Partners’s dividend payout ratio (DPR) is presently 265.15%.
A number of analysts recently issued reports on NEP shares. Morgan Stanley cut Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $50.00 target price for the company. in a research report on Monday, July 16th. Guggenheim reissued a “buy” rating and issued a $50.00 target price on shares of Nextera Energy Partners in a research report on Monday, July 23rd. Howard Weil reissued a “sector perform” rating on shares of Nextera Energy Partners in a research report on Tuesday, July 24th. TheStreet raised Nextera Energy Partners from a “c” rating to a “b-” rating in a research report on Wednesday, July 25th. Finally, Zacks Investment Research raised Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $53.00 target price for the company in a research report on Monday, July 30th. Seven research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $47.50.
Nextera Energy Partners Company 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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