Cannell & Co. Has $4.07 Million Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Cannell & Co. lowered its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 73.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 133,940 shares of the solar energy provider’s stock after selling 378,298 shares during the quarter. Cannell & Co. owned approximately 0.14% of NextEra Energy Partners worth $4,073,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. ClearBridge Investments Ltd raised its holdings in NextEra Energy Partners by 64.4% during the 3rd quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider’s stock worth $106,425,000 after purchasing an additional 1,404,318 shares during the last quarter. FMR LLC lifted its holdings in NextEra Energy Partners by 18.9% in the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider’s stock valued at $144,506,000 after buying an additional 774,665 shares during the period. Redwood Grove Capital LLC lifted its holdings in NextEra Energy Partners by 231.3% in the third quarter. Redwood Grove Capital LLC now owns 541,592 shares of the solar energy provider’s stock valued at $16,085,000 after buying an additional 378,095 shares during the period. Advisors Capital Management LLC boosted its stake in NextEra Energy Partners by 278.3% in the third quarter. Advisors Capital Management LLC now owns 449,442 shares of the solar energy provider’s stock valued at $13,348,000 after acquiring an additional 330,639 shares during the last quarter. Finally, EP Wealth Advisors LLC grew its holdings in NextEra Energy Partners by 1,557.8% during the 3rd quarter. EP Wealth Advisors LLC now owns 319,287 shares of the solar energy provider’s stock worth $9,483,000 after acquiring an additional 300,027 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Stock Up 0.8 %

NextEra Energy Partners stock opened at $28.60 on Thursday. The company has a 50 day moving average of $28.36 and a 200-day moving average of $27.61. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $63.89. The stock has a market capitalization of $2.68 billion, a PE ratio of 9.38 and a beta of 1.01.

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 (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. During the same period in the previous year, the business earned ($0.17) EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts anticipate that NextEra Energy Partners, LP will post 1.54 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 annualized dividend and a dividend yield of 12.48%. The ex-dividend date of this dividend is Monday, May 6th. NextEra Energy Partners’s payout ratio is currently 115.41%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on NEP shares. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Oppenheimer restated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Raymond James decreased their target price 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. Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price target on the stock. Finally, Evercore ISI assumed coverage on shares of NextEra Energy Partners in a research note on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, NextEra Energy Partners has an average rating of “Hold” and a consensus price target of $41.60.

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.