Swedbank AB Has $6.72 Million Stake in NextEra Energy Partners, LP (NYSE:NEP)

Swedbank AB reduced its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 23.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 243,382 shares of the solar energy provider’s stock after selling 73,301 shares during the period. Swedbank AB’s holdings in NextEra Energy Partners were worth $6,722,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of NEP. M&G PLC grew its position in shares of 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. abrdn plc increased its stake in NextEra Energy Partners by 6.2% in the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock valued at $23,483,000 after purchasing an additional 49,400 shares in the last quarter. Raymond James & Associates raised its holdings in NextEra Energy Partners by 6.2% in the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock worth $22,172,000 after purchasing an additional 46,718 shares during the period. Redwood Grove Capital LLC boosted its position in shares of NextEra Energy Partners by 0.9% during the first quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock worth $23,359,000 after purchasing an additional 7,200 shares in the last quarter. Finally, Vanguard Group Inc. grew its holdings 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 buying an additional 22,370 shares during the period. 66.01% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several analysts recently commented on NEP shares. UBS Group dropped their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. 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 report on Monday, October 21st. Barclays reiterated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Mizuho lowered their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.69.

NextEra Energy Partners Trading Up 1.6 %

Shares of NYSE:NEP opened at $17.47 on Thursday. The company’s 50-day moving average price is $22.21 and its two-hundred day moving average price is $25.91. NextEra Energy Partners, LP has a one year low of $15.55 and a one 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 stock has a market capitalization of $1.63 billion, a PE ratio of 8.01 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period last year, the company posted $0.57 earnings per share. On average, equities analysts forecast that NextEra Energy Partners, LP will post 1.36 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were issued a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 21.01%. This is an increase 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 payout ratio is presently 168.35%.

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.