Brown Miller Wealth Management LLC Raises Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Brown Miller Wealth Management LLC boosted its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 44.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 18,033 shares of the solar energy provider’s stock after buying an additional 5,546 shares during the period. Brown Miller Wealth Management LLC’s holdings in NextEra Energy Partners were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of NEP. Ervin Investment Management LLC lifted its stake in shares of NextEra Energy Partners by 9.8% during the 1st quarter. Ervin Investment Management LLC now owns 27,136 shares of the solar energy provider’s stock worth $816,000 after purchasing an additional 2,429 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of NextEra Energy Partners during the first quarter valued at about $83,000. Counterpoint Mutual Funds LLC bought a new stake in shares of NextEra Energy Partners in the 1st quarter valued at about $305,000. &PARTNERS grew its position in shares of NextEra Energy Partners by 393.7% in the 1st quarter. &PARTNERS now owns 12,220 shares of the solar energy provider’s stock worth $368,000 after buying an additional 9,745 shares during the last quarter. Finally, Walnut Private Equity Partners LLC raised its stake in shares of NextEra Energy Partners by 13.0% during the 1st quarter. Walnut Private Equity Partners LLC now owns 130,000 shares of the solar energy provider’s stock worth $3,910,000 after acquiring an additional 15,000 shares in the last quarter. Institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

Shares of NYSE:NEP traded down $0.84 during midday trading on Friday, reaching $27.64. The company’s stock had a trading volume of 1,206,749 shares, compared to its average volume of 1,242,005. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $30.93 and a 200 day moving average of $29.52. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $59.90. The firm has a market capitalization of $2.59 billion, a PE ratio of 9.06 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the company earned ($0.17) earnings per share. On average, equities analysts expect that NextEra Energy Partners, LP will post 1.89 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were given a dividend of $0.8925 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 annualized dividend and a yield of 12.92%. The ex-dividend date of this dividend was Monday, May 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 117.05%.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the stock. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Raymond James decreased their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. restated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Finally, Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a research note on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $38.79.

About NextEra Energy Partners

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.