Ninety One UK Ltd Sells 27,824 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Ninety One UK Ltd decreased its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 11.7% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 210,263 shares of the solar energy provider’s stock after selling 27,824 shares during the quarter. Ninety One UK Ltd’s holdings in NextEra Energy Partners were worth $6,394,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Global Wealth Management Investment Advisory Inc. bought a new position in NextEra Energy Partners in the first quarter worth approximately $36,000. Lazard Asset Management LLC raised its stake in NextEra Energy Partners by 69.6% in the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock worth $45,000 after buying an additional 224 shares in the last quarter. Parkside Financial Bank & Trust raised its stake in NextEra Energy Partners by 40.1% in the second quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider’s stock worth $44,000 after buying an additional 216 shares in the last quarter. MV Capital Management Inc. bought a new position in NextEra Energy Partners in the fourth quarter worth approximately $30,000. Finally, State of Wyoming raised its stake in NextEra Energy Partners by 28.2% in the second quarter. State of Wyoming now owns 1,137 shares of the solar energy provider’s stock worth $67,000 after buying an additional 250 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

Shares of NEP opened at $27.07 on Friday. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $64.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. The firm has a market capitalization of $2.53 billion, a PE ratio of 12.71 and a beta of 1.00. The company’s fifty day moving average price is $28.33 and its 200-day moving average price is $27.18.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.38). NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The business had revenue of $232.00 million during the quarter, compared to analysts’ expectations of $360.03 million. On average, equities research analysts predict that NextEra Energy Partners, LP will post 0.9 EPS for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 13.00%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.87. The ex-dividend date of this dividend was Monday, February 5th. NextEra Energy Partners’s dividend payout ratio is presently 165.26%.

Analysts Set New Price Targets

A number of equities analysts recently commented on NEP shares. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. CIBC lowered shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a report on Tuesday, January 9th. Barclays initiated coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price target on the stock. Finally, Raymond James cut their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $43.88.

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.