Regent Investment Management LLC Grows Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Regent Investment Management LLC lifted its position in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 40.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 13,710 shares of the solar energy provider’s stock after purchasing an additional 3,960 shares during the period. Regent Investment Management LLC’s holdings in NextEra Energy Partners were worth $1,017,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of NEP. Private Advisor Group LLC purchased a new stake in shares of NextEra Energy Partners during the 4th quarter worth $206,000. Renaissance Technologies LLC purchased a new stake in shares of NextEra Energy Partners during the 4th quarter worth $7,292,000. Rockefeller Capital Management L.P. lifted its position in shares of NextEra Energy Partners by 4.3% during the 4th quarter. Rockefeller Capital Management L.P. now owns 169,566 shares of the solar energy provider’s stock worth $14,311,000 after purchasing an additional 7,021 shares during the last quarter. Blair William & Co. IL lifted its position in shares of NextEra Energy Partners by 43.9% during the 4th quarter. Blair William & Co. IL now owns 19,555 shares of the solar energy provider’s stock worth $1,650,000 after purchasing an additional 5,966 shares during the last quarter. Finally, Nuveen Asset Management LLC raised its stake in NextEra Energy Partners by 2.8% during the 4th quarter. Nuveen Asset Management LLC now owns 506,894 shares of the solar energy provider’s stock worth $42,782,000 after acquiring an additional 13,871 shares in the last quarter. 83.22% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NYSE NEP traded down $2.91 on Friday, hitting $76.93. The company’s stock had a trading volume of 2,841 shares, compared to its average volume of 379,022. NextEra Energy Partners, LP has a 12-month low of $61.31 and a 12-month high of $88.80. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of 17.94, a price-to-earnings-growth ratio of 1.80 and a beta of 0.86. The company has a debt-to-equity ratio of 0.40, a current ratio of 1.34 and a quick ratio of 1.30. The stock has a 50 day moving average of $81.66 and a 200-day moving average of $76.68.

NextEra Energy Partners (NYSE:NEPGet Rating) last announced its quarterly earnings results on Friday, July 22nd. The solar energy provider reported $2.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $2.31. The company had revenue of $362.00 million for the quarter, compared to the consensus estimate of $345.09 million. NextEra Energy Partners had a net margin of 39.66% and a return on equity of 4.21%. The company’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.97) earnings per share. As a group, research analysts predict that NextEra Energy Partners, LP will post 4.52 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, August 12th. Investors of record on Thursday, August 4th were given a dividend of $0.7625 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.73. The ex-dividend date was Wednesday, August 3rd. This represents a $3.05 annualized dividend and a yield of 3.96%. NextEra Energy Partners’s dividend payout ratio is 68.54%.

Analysts Set New Price Targets

Several brokerages recently commented on NEP. KeyCorp lifted their price target on shares of NextEra Energy Partners from $86.00 to $89.00 and gave the stock an “overweight” rating in a research note on Thursday, August 11th. Bank of America boosted their price target on shares of NextEra Energy Partners from $60.00 to $70.00 and gave the stock an “underperform” rating in a research note on Friday, August 19th. The Goldman Sachs Group dropped their price target on shares of NextEra Energy Partners from $102.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. Morgan Stanley dropped their price target on shares of NextEra Energy Partners from $93.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, June 13th. Finally, TheStreet upgraded shares of NextEra Energy Partners from a “c” rating to a “b-” rating in a research note on Thursday, June 30th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $86.00.

NextEra Energy Partners Company Profile

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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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

Further Reading

Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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