NextEra Energy Partners, LP (NYSE:NEP) Shares Acquired by State of New Jersey Common Pension Fund D

State of New Jersey Common Pension Fund D lifted its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 38.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,302 shares of the solar energy provider’s stock after buying an additional 21,400 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.08% of NextEra Energy Partners worth $2,135,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. BNP Paribas Financial Markets lifted its position in NextEra Energy Partners by 716.5% during the 1st quarter. BNP Paribas Financial Markets now owns 30,145 shares of the solar energy provider’s stock worth $907,000 after acquiring an additional 26,453 shares during the period. Oppenheimer & Co. Inc. lifted its holdings in shares of NextEra Energy Partners by 28.3% during the first quarter. Oppenheimer & Co. Inc. now owns 12,610 shares of the solar energy provider’s stock worth $379,000 after purchasing an additional 2,783 shares during the period. Kingsview Wealth Management LLC purchased a new stake in NextEra Energy Partners in the first quarter valued at approximately $418,000. Blair William & Co. IL increased its holdings in NextEra Energy Partners by 42.5% in the 1st quarter. Blair William & Co. IL now owns 21,390 shares of the solar energy provider’s stock worth $643,000 after buying an additional 6,378 shares during the period. Finally, M&G Plc purchased a new position in NextEra Energy Partners during the 1st quarter worth approximately $83,069,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Stock Performance

NYSE NEP opened at $16.98 on Friday. The stock’s 50 day simple moving average is $23.73 and its 200-day simple moving average is $26.80. NextEra Energy Partners, LP has a 1-year low of $15.55 and a 1-year high of $35.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The company has a market cap of $1.59 billion, a PE ratio of 7.79 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The business had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. NextEra Energy Partners’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the previous year, the company earned $0.57 EPS. As a group, equities research analysts anticipate that NextEra Energy Partners, LP will post 1.41 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a yield of 21.61%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

Wall Street Analyst Weigh In

NEP has been the topic of a number of research reports. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price objective for the stock from $25.00 to $22.00 in a research note on Thursday, October 24th. UBS Group decreased their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $37.00 to $22.00 in a report on Monday, October 28th. Jefferies Financial Group dropped their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday, October 24th. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $26.69.

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, 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.