NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Parsons Capital Management Inc. RI

Parsons Capital Management Inc. RI decreased its stake in NextEra Energy Partners, LP (NYSE:NEP) by 50.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,073 shares of the solar energy provider’s stock after selling 48,370 shares during the period. Parsons Capital Management Inc. RI owned 0.05% of NextEra Energy Partners worth $1,431,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of NEP. ClearBridge Investments Ltd boosted its holdings in shares of NextEra Energy Partners by 64.4% in the 3rd quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock valued at $106,425,000 after buying an additional 1,404,318 shares in the last quarter. FMR LLC boosted its stake in NextEra Energy Partners by 18.9% during the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock worth $144,506,000 after purchasing an additional 774,665 shares during the period. Morgan Stanley boosted its stake in NextEra Energy Partners by 52.8% during the 4th quarter. Morgan Stanley now owns 1,268,893 shares of the solar energy provider’s stock worth $88,937,000 after purchasing an additional 438,375 shares during the period. Redwood Grove Capital LLC boosted its stake in NextEra Energy Partners by 231.3% during the 3rd quarter. Redwood Grove Capital LLC now owns 541,592 shares of the solar energy provider’s stock worth $16,085,000 after purchasing an additional 378,095 shares during the period. Finally, BlackRock Inc. boosted its stake in NextEra Energy Partners by 4.9% during the 1st quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock worth $634,357,000 after purchasing an additional 356,265 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Price Performance

Shares of NEP traded down $0.45 during trading hours on Tuesday, reaching $29.17. The company had a trading volume of 267,800 shares, compared to its average volume of 1,381,324. The firm has a 50 day simple moving average of $28.47 and a 200-day simple moving average of $28.40. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $2.73 billion, a price-to-earnings ratio of 13.79, a PEG ratio of 2.29 and a beta of 1.00. NextEra Energy Partners, LP has a 12-month low of $20.17 and a 12-month high of $64.43.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share for the quarter, missing the consensus estimate of $0.03 by ($0.38). NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The business had revenue of $232.00 million for the quarter, compared to analysts’ expectations of $360.03 million. Research analysts expect that NextEra Energy Partners, LP will post 0.89 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were issued a dividend of $0.88 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.87. This represents a $3.52 annualized dividend and a yield of 12.07%. The ex-dividend date of this dividend was Monday, February 5th. NextEra Energy Partners’s dividend payout ratio (DPR) is 165.26%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Guggenheim reduced their target price on shares of NextEra Energy Partners from $42.00 to $37.00 and set a “buy” rating for the company in a research note on Wednesday, December 6th. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research note on Friday, January 26th. Mizuho reduced their target price on shares of NextEra Energy Partners from $40.00 to $33.00 and set a “buy” rating for the company in a research note on Tuesday, December 12th. Finally, CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, NextEra Energy Partners has an average rating of “Hold” and a consensus target price of $47.31.

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.