Bank of New York Mellon Corp trimmed its stake in Nextera Energy Partners LP (NYSE:NEP) by 10.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,114,982 shares of the solar energy provider’s stock after selling 129,495 shares during the period. Bank of New York Mellon Corp’s holdings in Nextera Energy Partners were worth $48,068,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the business. Swiss National Bank grew its position in Nextera Energy Partners by 2.2% in the fourth quarter. Swiss National Bank now owns 91,400 shares of the solar energy provider’s stock valued at $3,940,000 after acquiring an additional 2,000 shares during the period. Public Employees Retirement Association of Colorado bought a new stake in Nextera Energy Partners in the fourth quarter valued at $105,000. MAI Capital Management grew its position in Nextera Energy Partners by 3.4% in the fourth quarter. MAI Capital Management now owns 85,447 shares of the solar energy provider’s stock valued at $3,684,000 after acquiring an additional 2,807 shares during the period. Northern Trust Corp grew its position in Nextera Energy Partners by 19.8% in the second quarter. Northern Trust Corp now owns 19,048 shares of the solar energy provider’s stock valued at $705,000 after acquiring an additional 3,154 shares during the period. Finally, BNP Paribas Arbitrage SA grew its position in Nextera Energy Partners by 66.7% in the third quarter. BNP Paribas Arbitrage SA now owns 8,000 shares of the solar energy provider’s stock valued at $322,000 after acquiring an additional 3,200 shares during the period. Hedge funds and other institutional investors own 83.31% of the company’s stock.
Nextera Energy Partners LP (NYSE:NEP) opened at $38.42 on Friday. The company has a debt-to-equity ratio of 2.54, a current ratio of 1.44 and a quick ratio of 1.44. The company has a market capitalization of $2,080.00, a price-to-earnings ratio of 58.21, a price-to-earnings-growth ratio of 1.72 and a beta of 1.25. Nextera Energy Partners LP has a one year low of $30.40 and a one year high of $45.38.
The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were paid a dividend of $0.405 per share. This represents a $1.62 annualized dividend and a dividend yield of 4.22%. The ex-dividend date was Friday, February 2nd. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.39. Nextera Energy Partners’s dividend payout ratio is 245.45%.
A number of analysts have weighed in on NEP shares. Credit Suisse Group started coverage on Nextera Energy Partners in a research report on Thursday, December 7th. They issued an “outperform” rating and a $44.00 price target on the stock. Morgan Stanley raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a research note on Tuesday, December 12th. Guggenheim assumed coverage on Nextera Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price objective on the stock. Finally, Zacks Investment Research lowered Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $40.80.
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About Nextera Energy Partners
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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