GW&K Investment Management LLC Takes Position in Nextera Energy Partners LP (NEP)

GW&K Investment Management LLC purchased a new position in Nextera Energy Partners LP (NYSE:NEP) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 456,671 shares of the solar energy provider’s stock, valued at approximately $19,687,000.

Other large investors have also modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in Nextera Energy Partners by 10.4% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the solar energy provider’s stock worth $117,000 after buying an additional 298 shares during the last quarter. BNP Paribas Arbitrage SA boosted its stake in Nextera Energy Partners by 14.3% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,800 shares of the solar energy provider’s stock worth $178,000 after buying an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. acquired a new stake in Nextera Energy Partners in the 3rd quarter worth about $203,000. Stephens Inc. AR acquired a new stake in Nextera Energy Partners in the 3rd quarter worth about $206,000. Finally, Cubist Systematic Strategies LLC acquired a new stake in Nextera Energy Partners in the 3rd quarter worth about $260,000. 83.49% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have issued reports on NEP. Zacks Investment Research lowered Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday. Royal Bank of Canada reissued a “hold” rating and issued a $39.00 price target on shares of Nextera Energy Partners in a research note on Tuesday, October 10th. Guggenheim began coverage on Nextera Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price target on the stock. Credit Suisse Group began coverage on Nextera Energy Partners in a research note on Thursday, December 7th. They issued an “outperform” rating and a $44.00 price target on the stock. Finally, JPMorgan Chase & Co. decreased their price target on Nextera Energy Partners from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Two analysts have rated the stock with a sell rating, six have given a hold rating and ten have issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $40.38.

Nextera Energy Partners LP (NYSE:NEP) opened at $41.27 on Friday. The firm has a market capitalization of $2,177.64, a PE ratio of 29.91, a PEG ratio of 2.18 and a beta of 1.20. Nextera Energy Partners LP has a 52 week low of $27.47 and a 52 week high of $44.24. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 2.04.

Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings data on Thursday, October 26th. The solar energy provider reported $0.01 earnings per share for the quarter, missing the consensus estimate of $0.37 by ($0.36). The firm had revenue of $177.00 million during the quarter, compared to analyst estimates of $243.16 million. Nextera Energy Partners had a net margin of 10.38% and a return on equity of 3.57%. sell-side analysts anticipate that Nextera Energy Partners LP will post 0.91 earnings per share for the current fiscal year.

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Nextera Energy Partners Company Profile

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

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Institutional Ownership by Quarter for Nextera Energy Partners (NYSE:NEP)

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