Corrado Advisors LLC Buys 20,216 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Corrado Advisors LLC raised its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 67.9% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,009 shares of the solar energy provider’s stock after acquiring an additional 20,216 shares during the period. Corrado Advisors LLC owned approximately 0.05% of NextEra Energy Partners worth $1,521,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. CWM LLC lifted its stake in shares of NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after purchasing an additional 511 shares during the period. MV Capital Management Inc. bought a new position in shares of NextEra Energy Partners in the 4th quarter worth approximately $30,000. ORG Partners LLC lifted its stake in shares of NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 670 shares during the period. Parkside Financial Bank & Trust lifted its stake in shares of NextEra Energy Partners by 60.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 454 shares during the period. Finally, CI Investments Inc. lifted its stake in shares of NextEra Energy Partners by 1,418.2% in the 3rd quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock worth $55,000 after purchasing an additional 1,716 shares during the period. Institutional investors own 66.01% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NEP. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research note on Tuesday, January 9th. Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Barclays started coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and a consensus price target of $43.88.

NextEra Energy Partners Price Performance

NEP traded up $1.25 during trading on Tuesday, reaching $28.71. 2,975,047 shares of the company traded hands, compared to its average volume of 1,383,780. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $64.43. The firm has a fifty day simple moving average of $28.27 and a 200 day simple moving average of $27.30. The company has a market cap of $2.68 billion, a P/E ratio of 13.51 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.17 by $0.58. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same period last year, the firm posted ($0.17) earnings per share. NextEra Energy Partners’s revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that NextEra Energy Partners, LP will post 0.9 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were given a $0.88 dividend. The ex-dividend date of this dividend was Monday, February 5th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 dividend on an annualized basis and a yield of 12.26%. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 165.26%.

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.