LexAurum Advisors LLC Invests $215,000 in NextEra Energy Partners, LP (NYSE:NEP)

LexAurum Advisors LLC purchased a new stake in NextEra Energy Partners, LP (NYSE:NEP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,088 shares of the solar energy provider’s stock, valued at approximately $215,000.

Other hedge funds have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its stake in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC purchased a new position in shares of NextEra Energy Partners during the second quarter valued at $51,000. Eastern Bank acquired a new position in NextEra Energy Partners during the third quarter valued at $57,000. McIlrath & Eck LLC purchased a new stake in NextEra Energy Partners in the 3rd quarter worth about $63,000. Finally, Central Pacific Bank Trust Division boosted its position in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after acquiring an additional 3,750 shares during the period. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

NYSE NEP opened at $15.74 on Friday. NextEra Energy Partners, LP has a 1 year low of $15.55 and a 1 year high of $35.15. The company has a fifty day simple moving average of $17.51 and a 200 day simple moving average of $22.09. 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 company has a market cap of $1.47 billion, a P/E ratio of 7.22 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last released its quarterly 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 firm had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The firm’s revenue was up 3.6% on a year-over-year basis. During the same quarter last year, the company earned $0.57 earnings per share. On average, sell-side analysts predict that NextEra Energy Partners, LP will post 2.06 EPS for the current year.

Wall Street Analysts Forecast Growth

NEP has been the topic of a number of research reports. Scotiabank dropped their target price on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th. 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. Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Monday, December 2nd. CIBC cut their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Finally, UBS Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $24.50.

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.