Two Sigma Advisers LP Makes New Investment in NextEra Energy Partners, LP (NYSE:NEP)

Two Sigma Advisers LP purchased a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 554,300 shares of the solar energy provider’s stock, valued at approximately $15,310,000. Two Sigma Advisers LP owned approximately 0.59% of NextEra Energy Partners as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. M&G PLC raised its stake in NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after buying an additional 496,383 shares during the period. Redwood Grove Capital LLC increased its holdings in shares of NextEra Energy Partners by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after acquiring an additional 161,436 shares in the last quarter. abrdn plc raised its position in shares of NextEra Energy Partners by 6.2% during the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock worth $23,483,000 after purchasing an additional 49,400 shares during the period. Raymond James & Associates lifted its holdings in shares of NextEra Energy Partners by 6.2% during the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock valued at $22,172,000 after purchasing an additional 46,718 shares in the last quarter. Finally, Vanguard Group Inc. grew its position in shares of NextEra Energy Partners by 3.6% in the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after purchasing an additional 22,370 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $17.62 on Monday. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The firm has a fifty day simple moving average of $20.77 and a 200 day simple moving average of $25.04. NextEra Energy Partners, LP has a 1-year low of $15.55 and a 1-year high of $35.15. The stock has a market capitalization of $1.65 billion, a PE ratio of 8.08 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same period last year, the business earned $0.57 EPS. The business’s revenue was up 3.6% on a year-over-year basis. On average, research analysts expect that NextEra Energy Partners, LP will post 1.41 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were given a $0.9175 dividend. This represents a $3.67 dividend on an annualized basis and a dividend yield of 20.83%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 168.35%.

Analyst Upgrades and Downgrades

Several analysts have commented on NEP shares. Jefferies Financial Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price objective for the company from $25.00 to $22.00 in a research report on Thursday, October 24th. Guggenheim cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $37.00 to $22.00 in a report on Monday, October 28th. BMO Capital Markets dropped their price target on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday, October 21st. Finally, Mizuho reduced their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.85.

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.