Syntax Research Inc. Sells 36,493 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Syntax Research Inc. decreased its position in NextEra Energy Partners, LP (NYSE:NEP) by 97.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,081 shares of the solar energy provider’s stock after selling 36,493 shares during the quarter. Syntax Research Inc.’s holdings in NextEra Energy Partners were worth $33,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of NEP. JPMorgan Chase & Co. lifted its position in NextEra Energy Partners by 2.8% in the 1st quarter. JPMorgan Chase & Co. now owns 29,854 shares of the solar energy provider’s stock worth $2,488,000 after buying an additional 800 shares during the last quarter. Cambridge Investment Research Advisors Inc. lifted its position in NextEra Energy Partners by 43.2% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 9,474 shares of the solar energy provider’s stock valued at $790,000 after purchasing an additional 2,858 shares during the last quarter. Private Advisor Group LLC lifted its position in NextEra Energy Partners by 123.8% in the first quarter. Private Advisor Group LLC now owns 5,466 shares of the solar energy provider’s stock valued at $456,000 after purchasing an additional 3,024 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in NextEra Energy Partners by 8.7% in the first quarter. PNC Financial Services Group Inc. now owns 4,860 shares of the solar energy provider’s stock valued at $406,000 after purchasing an additional 390 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in NextEra Energy Partners by 0.6% in the first quarter. Bank of Montreal Can now owns 65,199 shares of the solar energy provider’s stock valued at $5,488,000 after purchasing an additional 402 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the company. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. CIBC downgraded NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Tuesday, January 9th. Raymond James lowered their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Finally, Evercore ISI started coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 target price for the company. 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. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $45.53.

NextEra Energy Partners Price Performance

Shares of NYSE NEP traded down $0.32 during midday trading on Monday, hitting $27.23. The stock had a trading volume of 587,383 shares, compared to its average volume of 1,350,917. The company has a market capitalization of $2.54 billion, a PE ratio of 12.93 and a beta of 1.00. The stock has a 50 day simple moving average of $28.41 and a 200-day simple moving average of $27.22. NextEra Energy Partners, LP has a 1 year low of $20.17 and a 1 year high of $64.43. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.03 by ($0.38). NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The business had revenue of $232.00 million for the quarter, compared to analyst estimates of $360.03 million. On average, sell-side analysts expect that NextEra Energy Partners, LP will post 0.9 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Investors of record on Tuesday, February 6th were issued a $0.88 dividend. The ex-dividend date of this dividend was Monday, February 5th. This is a positive change 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 12.93%. NextEra Energy Partners’s dividend payout ratio (DPR) is 165.26%.

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.