Fmr LLC increased its holdings in shares of Nextera Energy Partners LP (NYSE:NEP) by 20.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,477,258 shares of the solar energy provider’s stock after purchasing an additional 248,216 shares during the quarter. Fmr LLC’s holdings in Nextera Energy Partners were worth $63,596,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Ecofin Ltd. boosted its holdings in Nextera Energy Partners by 46.4% in the 4th quarter. Ecofin Ltd. now owns 287,405 shares of the solar energy provider’s stock worth $12,373,000 after acquiring an additional 91,070 shares during the period. Nordea Investment Management AB boosted its holdings in Nextera Energy Partners by 5.8% in the 4th quarter. Nordea Investment Management AB now owns 104,283 shares of the solar energy provider’s stock worth $4,489,000 after acquiring an additional 5,678 shares during the period. Millennium Management LLC boosted its holdings in Nextera Energy Partners by 5.2% in the 4th quarter. Millennium Management LLC now owns 135,372 shares of the solar energy provider’s stock worth $5,828,000 after acquiring an additional 6,697 shares during the period. Legal & General Group Plc boosted its holdings in Nextera Energy Partners by 136.2% in the 4th quarter. Legal & General Group Plc now owns 1,424 shares of the solar energy provider’s stock worth $61,000 after acquiring an additional 821 shares during the period. Finally, Wexford Capital LP boosted its holdings in Nextera Energy Partners by 28.6% in the 4th quarter. Wexford Capital LP now owns 172,384 shares of the solar energy provider’s stock worth $7,421,000 after acquiring an additional 38,363 shares during the period. 82.03% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have weighed in on NEP shares. Macquarie upgraded Nextera Energy Partners from a “neutral” rating to an “outperform” rating and decreased their price target for the stock from $47.00 to $44.00 in a report on Monday, February 4th. Barclays started coverage on Nextera Energy Partners in a report on Thursday, February 7th. They issued an “overweight” rating and a $49.00 price target for the company. TheStreet cut Nextera Energy Partners from a “b-” rating to a “c+” rating in a report on Friday, January 25th. Goldman Sachs Group upgraded Nextera Energy Partners from a “neutral” rating to a “buy” rating and upped their price target for the stock from $45.00 to $49.00 in a report on Sunday, March 31st. Finally, ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $47.45.
Nextera Energy Partners stock opened at $47.80 on Tuesday. The company has a market cap of $2.67 billion, a PE ratio of 16.79, a price-to-earnings-growth ratio of 2.59 and a beta of 0.96. The company has a debt-to-equity ratio of 0.55, a current ratio of 0.40 and a quick ratio of 0.40. Nextera Energy Partners LP has a 52 week low of $38.24 and a 52 week high of $50.66.
Nextera Energy Partners (NYSE:NEP) last released its earnings results on Friday, January 25th. The solar energy provider reported ($0.39) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.88). The business had revenue of $155.00 million for the quarter, compared to analysts’ expectations of $276.40 million. Nextera Energy Partners had a net margin of 23.25% and a return on equity of 4.83%. During the same quarter last year, the company posted $0.18 earnings per share. As a group, analysts forecast that Nextera Energy Partners LP will post 2.04 earnings per share for the current year.
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Nextera Energy Partners Company 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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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