NextEra Energy Partners, LP (NYSE:NEP) Stake Boosted by Quantbot Technologies LP

Quantbot Technologies LP boosted its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 1,092.3% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 81,634 shares of the solar energy provider’s stock after purchasing an additional 74,787 shares during the quarter. Quantbot Technologies LP’s holdings in NextEra Energy Partners were worth $2,456,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of NextEra Energy Partners by 3.9% in the 3rd quarter. Vanguard Group Inc. now owns 619,780 shares of the solar energy provider’s stock valued at $18,407,000 after acquiring an additional 23,008 shares in the last quarter. InTrack Investment Management Inc acquired a new stake in shares of NextEra Energy Partners in the fourth quarter worth $279,000. Capital Market Strategies LLC purchased a new position in shares of NextEra Energy Partners during the fourth quarter valued at $205,000. Campbell Capital Management Inc. acquired a new position in NextEra Energy Partners during the fourth quarter valued at $243,000. Finally, Gilman Hill Asset Management LLC lifted its stake in NextEra Energy Partners by 5.4% in the 4th quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock worth $342,000 after acquiring an additional 575 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Performance

NEP traded up $1.19 during midday trading on Friday, reaching $28.64. The company’s stock had a trading volume of 1,898,617 shares, compared to its average volume of 1,447,671. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $59.90. The stock has a market cap of $2.68 billion, a P/E ratio of 9.39 and a beta of 1.03. The company has a fifty day simple moving average of $30.43 and a 200 day simple moving average of $29.28. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.35.

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

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were given a dividend of $0.8925 per share. The ex-dividend date was Monday, May 6th. 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. NextEra Energy Partners’s dividend payout ratio is currently 117.05%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on NEP. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $38.00 to $30.00 in a report on Monday, July 1st. Finally, Mizuho downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 target price on the stock. in a research report on Wednesday, June 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $38.20.

NextEra Energy Partners 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.