Rockefeller Capital Management L.P. Grows Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Rockefeller Capital Management L.P. lifted its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 73.0% in the 2nd quarter, Holdings Channel.com reports. The firm owned 109,471 shares of the solar energy provider’s stock after purchasing an additional 46,197 shares during the quarter. Rockefeller Capital Management L.P.’s holdings in NextEra Energy Partners were worth $8,359,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Certified Advisory Corp purchased a new position in shares of NextEra Energy Partners in the 1st quarter valued at about $29,000. Sandy Spring Bank purchased a new position in shares of NextEra Energy Partners in the 2nd quarter valued at about $30,000. Perkins Coie Trust Co purchased a new position in shares of NextEra Energy Partners in the 2nd quarter valued at about $31,000. Ameritas Investment Company LLC purchased a new position in shares of NextEra Energy Partners in the 1st quarter valued at about $40,000. Finally, Quadrant Capital Group LLC increased its stake in shares of NextEra Energy Partners by 361.9% in the 1st quarter. Quadrant Capital Group LLC now owns 582 shares of the solar energy provider’s stock valued at $42,000 after purchasing an additional 456 shares in the last quarter. Hedge funds and other institutional investors own 83.80% of the company’s stock.

Shares of NYSE NEP opened at $79.60 on Wednesday. The firm has a market cap of $6.10 billion, a price-to-earnings ratio of 24.12, a PEG ratio of 1.49 and a beta of 0.73. The company has a quick ratio of 5.32, a current ratio of 5.42 and a debt-to-equity ratio of 0.47. NextEra Energy Partners, LP has a 52-week low of $55.13 and a 52-week high of $88.29. The business’s 50 day moving average is $78.09 and its two-hundred day moving average is $73.97.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Thursday, July 22nd. The solar energy provider reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.58 by ($1.54). The firm had revenue of $253.00 million during the quarter, compared to analysts’ expectations of $335.19 million. NextEra Energy Partners had a net margin of 26.18% and a return on equity of 3.22%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.69 EPS. Analysts anticipate that NextEra Energy Partners, LP will post 2.91 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, August 13th. Shareholders of record on Thursday, August 5th were given a $0.663 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.64. The ex-dividend date was Wednesday, August 4th. This represents a $2.65 dividend on an annualized basis and a yield of 3.33%. NextEra Energy Partners’s payout ratio is presently -327.16%.

Several equities research analysts recently issued reports on the company. UBS Group assumed coverage on NextEra Energy Partners in a report on Thursday, August 26th. They issued a “buy” rating and a $100.00 price objective on the stock. Wells Fargo & Company reiterated an “overweight” rating and issued a $74.03 price objective (down from $92.00) on shares of NextEra Energy Partners in a report on Monday, July 26th. Zacks Investment Research cut NextEra Energy Partners from a “hold” rating to a “sell” rating and set a $80.00 price objective on the stock. in a report on Wednesday, July 28th. Seaport Global Securities restated a “neutral” rating on shares of NextEra Energy Partners in a report on Monday, May 24th. Finally, Morgan Stanley boosted their target price on NextEra Energy Partners from $63.00 to $69.00 and gave the stock an “equal weight” rating in a report on Tuesday, July 20th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and a consensus target price of $80.20.

NextEra Energy Partners Company Profile

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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