Enterprise Bank & Trust Co Trims Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Enterprise Bank & Trust Co decreased its stake in NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 8.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 39,711 shares of the solar energy provider’s stock after selling 3,452 shares during the period. NextEra Energy Partners accounts for 1.3% of Enterprise Bank & Trust Co’s portfolio, making the stock its 23rd largest position. Enterprise Bank & Trust Co’s holdings in NextEra Energy Partners were worth $3,310,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. California State Teachers Retirement System acquired a new position in shares of NextEra Energy Partners during the 3rd quarter valued at $4,681,000. Cubist Systematic Strategies LLC raised its holdings in NextEra Energy Partners by 306.3% during the third quarter. Cubist Systematic Strategies LLC now owns 17,486 shares of the solar energy provider’s stock valued at $1,318,000 after buying an additional 13,182 shares in the last quarter. UBS Group AG raised its holdings in NextEra Energy Partners by 12.6% during the third quarter. UBS Group AG now owns 330,359 shares of the solar energy provider’s stock valued at $24,895,000 after buying an additional 37,011 shares in the last quarter. National Asset Management Inc. increased its stake in shares of NextEra Energy Partners by 11.6% in the third quarter. National Asset Management Inc. now owns 7,655 shares of the solar energy provider’s stock worth $577,000 after purchasing an additional 794 shares during the period. Finally, Atria Investments LLC increased its stake in shares of NextEra Energy Partners by 2.3% in the third quarter. Atria Investments LLC now owns 30,609 shares of the solar energy provider’s stock worth $2,307,000 after purchasing an additional 694 shares during the period. 81.32% of the stock is currently owned by institutional investors and hedge funds.

Shares of NEP stock opened at $72.37 on Thursday. The firm’s 50 day moving average is $69.74 and its 200 day moving average is $75.71. The company has a current ratio of 1.60, a quick ratio of 1.55 and a debt-to-equity ratio of 0.48. The stock has a market capitalization of $6.07 billion, a P/E ratio of 83.18, a PEG ratio of 2.71 and a beta of 0.92. NextEra Energy Partners, LP has a 12 month low of $61.31 and a 12 month high of $88.80.

NextEra Energy Partners (NYSE:NEP – Get Rating) last announced its quarterly earnings data on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. The company had revenue of $281.00 million during the quarter, compared to analysts’ expectations of $305.98 million. NextEra Energy Partners had a net margin of 15.13% and a return on equity of 1.58%. The firm’s revenue was up 14.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.66 EPS. On average, equities analysts predict that NextEra Energy Partners, LP will post 2.58 EPS for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, May 5th were paid a dividend of $0.7325 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.71. This represents a $2.93 dividend on an annualized basis and a yield of 4.05%. The ex-dividend date was Wednesday, May 4th. NextEra Energy Partners’s dividend payout ratio (DPR) is currently 336.78%.

A number of equities research analysts have weighed in on NEP shares. Morgan Stanley decreased their price objective on NextEra Energy Partners from $93.00 to $86.00 and set an “equal weight” rating on the stock in a report on Monday, June 13th. CIBC assumed coverage on shares of NextEra Energy Partners in a research report on Thursday, June 9th. They set a “neutral” rating and a $79.00 target price for the company. Credit Suisse Group lowered their price objective on shares of NextEra Energy Partners from $78.00 to $74.00 and set an “outperform” rating for the company in a research report on Wednesday, June 15th. Royal Bank of Canada raised shares of NextEra Energy Partners from a “sector perform” rating to an “outperform” rating and upped their target price for the stock from $86.00 to $89.00 in a research note on Friday, June 17th. Finally, UBS Group set a $90.00 price objective on shares of NextEra Energy Partners in a research note on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $84.86.

About NextEra Energy Partners (Get Rating)

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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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