Y Intercept Hong Kong Ltd Buys Shares of 34,601 NextEra Energy Partners, LP (NYSE:NEP)

Y Intercept Hong Kong Ltd purchased a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 34,601 shares of the solar energy provider’s stock, valued at approximately $956,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NEP. Northwestern Mutual Wealth Management Co. increased its position in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC acquired a new position in shares of NextEra Energy Partners during the 2nd quarter worth approximately $51,000. Eastern Bank bought a new stake in shares of NextEra Energy Partners during the 3rd quarter worth approximately $57,000. Central Bank & Trust Co. acquired a new stake in shares of NextEra Energy Partners in the 2nd quarter valued at approximately $99,000. Finally, International Assets Investment Management LLC bought a new position in shares of NextEra Energy Partners in the second quarter valued at $104,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have issued reports on NEP. JPMorgan Chase & Co. upgraded shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and cut their price target for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their target price for the company from $37.00 to $22.00 in a research note on Monday, October 28th. UBS Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Mizuho cut their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Barclays reaffirmed an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $26.00.

NextEra Energy Partners Trading Down 1.7 %

Shares of NextEra Energy Partners stock opened at $17.63 on Friday. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15. The stock has a market cap of $1.65 billion, a PE ratio of 8.08 and a beta of 1.07. The firm has a 50-day moving average of $20.06 and a 200-day moving average of $24.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, sell-side analysts forecast that NextEra Energy Partners, LP will post 1.41 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a yield of 20.82%. The ex-dividend date of this dividend was Wednesday, November 6th. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s dividend payout ratio (DPR) is 168.35%.

NextEra Energy Partners Profile

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.