NextEra Energy Partners, LP (NYSE:NEP) Shares Bought by Quantbot Technologies LP

Quantbot Technologies LP grew its stake in NextEra Energy Partners, LP (NYSE:NEP) by 1,092.3% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 81,634 shares of the solar energy provider’s stock after purchasing an additional 74,787 shares during the quarter. Quantbot Technologies LP owned approximately 0.09% of NextEra Energy Partners worth $2,456,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of NEP. CWM LLC boosted its holdings in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after buying an additional 511 shares during the last quarter. Richardson Financial Services Inc. purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its stake in NextEra Energy Partners by 208.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares during the last quarter. MV Capital Management Inc. purchased a new position in NextEra Energy Partners in the 4th quarter valued at $30,000. Finally, Heritage Wealth Advisors acquired a new stake in NextEra Energy Partners during the 4th quarter worth $33,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 4.3 %

NYSE NEP traded up $1.19 on Friday, reaching $28.64. The stock had a trading volume of 1,898,617 shares, compared to its average volume of 1,447,671. 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 price of $30.43 and a two-hundred day moving average price of $29.28. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $59.90. The firm has a market capitalization of $2.68 billion, a price-to-earnings ratio of 9.39 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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%. During the same period in the prior year, the firm earned ($0.17) earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that NextEra Energy Partners, LP will post 1.89 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th were paid a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 12.47%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date was Monday, May 6th. NextEra Energy Partners’s dividend payout ratio is presently 117.05%.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on the stock. Barclays cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their target price for the company from $32.00 to $25.00 in a research report on Thursday, June 13th. Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday, April 24th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research report on Thursday, May 23rd. Finally, Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price for the company. in a report on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $38.20.

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.