Rare Infrastructure Ltd lifted its position in Nextera Energy Partners LP (NYSE:NEP) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 297,989 shares of the solar energy provider’s stock after buying an additional 26,799 shares during the period. Nextera Energy Partners accounts for 1.0% of Rare Infrastructure Ltd’s investment portfolio, making the stock its 14th largest holding. Rare Infrastructure Ltd’s holdings in Nextera Energy Partners were worth $12,847,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Jefferies Group LLC purchased a new stake in shares of Nextera Energy Partners in the fourth quarter valued at approximately $2,970,000. Castleton Investment Management LLC lifted its holdings in Nextera Energy Partners by 81.6% during the fourth quarter. Castleton Investment Management LLC now owns 54,076 shares of the solar energy provider’s stock worth $2,331,000 after buying an additional 24,300 shares during the period. Driehaus Capital Management LLC purchased a new stake in Nextera Energy Partners during the fourth quarter worth $1,325,000. Cbre Clarion Securities LLC purchased a new stake in Nextera Energy Partners during the fourth quarter worth $1,000,000. Finally, Eaton Vance Management lifted its holdings in Nextera Energy Partners by 11.8% during the fourth quarter. Eaton Vance Management now owns 826,220 shares of the solar energy provider’s stock worth $35,618,000 after buying an additional 87,484 shares during the period. Hedge funds and other institutional investors own 83.31% of the company’s stock.
Shares of Nextera Energy Partners LP (NEP) opened at $38.42 on Friday. Nextera Energy Partners LP has a twelve month low of $30.40 and a twelve month high of $45.38. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.54. The company has a market capitalization of $2,062.08, a price-to-earnings ratio of -32.02, a PEG ratio of 1.71 and a beta of 1.25.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Monday, February 5th were issued 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 of this dividend 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 currently -135.00%.
NEP has been the subject of a number of analyst reports. Morgan Stanley upgraded Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 target price for the company in a report on Tuesday, December 12th. Zacks Investment Research lowered Nextera Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, January 17th. Guggenheim initiated coverage on Nextera Energy Partners in a report on Tuesday, January 2nd. They set a “buy” rating and a $45.00 target price for the company. Finally, Credit Suisse Group initiated coverage on Nextera Energy Partners in a report on Thursday, December 7th. They set an “outperform” rating and a $44.00 target price for the company. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Nextera Energy Partners has an average rating of “Hold” and a consensus price target of $40.80.
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Nextera Energy Partners 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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