Adell Harriman & Carpenter Inc. Reduces Stake in NextEra Energy Partners, LP (NYSE:NEP)

Adell Harriman & Carpenter Inc. reduced its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 87.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 10,581 shares of the solar energy provider’s stock after selling 72,568 shares during the period. Adell Harriman & Carpenter Inc.’s holdings in NextEra Energy Partners were worth $322,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NEP. CWM LLC grew its holdings in NextEra Energy Partners by 160.2% during the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares in the last quarter. MV Capital Management Inc. bought a new position in shares of NextEra Energy Partners in the fourth quarter worth $30,000. ORG Partners LLC boosted its stake in NextEra Energy Partners by 120.3% during the third quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 670 shares during the period. Parkside Financial Bank & Trust grew its holdings in shares of NextEra Energy Partners by 60.2% during the third 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 in the last quarter. Finally, CI Investments Inc. raised its position in 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. 66.01% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have recently commented on NEP. CIBC downgraded NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a report on Tuesday, January 9th. Barclays initiated coverage on NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price objective for the company. Raymond James cut their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Evercore ISI began coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target for the company. Finally, StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $41.60.

NextEra Energy Partners Stock Performance

Shares of NEP stock traded down $0.15 on Tuesday, reaching $29.03. The stock had a trading volume of 227,099 shares, compared to its average volume of 1,368,797. NextEra Energy Partners, LP has a 1 year low of $20.17 and a 1 year high of $63.89. The company has a 50 day simple moving average of $28.34 and a 200 day simple moving average of $27.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.31 and a current ratio of 1.36. The stock has a market cap of $2.72 billion, a P/E ratio of 9.57 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share 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 analysts’ expectations of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted ($0.17) EPS. Equities research analysts expect that NextEra Energy Partners, LP will post 1.54 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 12.30%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 115.41%.

NextEra Energy Partners Company 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.