NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. decreased its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 3.4% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,352 shares of the solar energy provider’s stock after selling 3,284 shares during the quarter. NextEra Energy Partners comprises about 1.3% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 28th biggest position. A. D. Beadell Investment Counsel Inc. owned approximately 0.10% of NextEra Energy Partners worth $1,643,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NEP. Thrivent Financial for Lutherans acquired a new stake in NextEra Energy Partners in the third quarter worth about $16,186,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners in the 3rd quarter worth approximately $15,310,000. M&G PLC grew its position in NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after purchasing an additional 496,383 shares during the last quarter. Fred Alger Management LLC acquired a new position in NextEra Energy Partners during the 2nd quarter valued at approximately $5,452,000. Finally, Redwood Grove Capital LLC raised its holdings in shares of NextEra Energy Partners by 19.7% in the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after buying an additional 161,436 shares during the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NEP has been the topic of a number of research analyst reports. Scotiabank dropped their price objective on shares of NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a report on Thursday, December 12th. UBS Group dropped their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. CIBC reduced their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. Jefferies Financial Group decreased their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Finally, Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $25.21.

NextEra Energy Partners Stock Performance

NEP traded down $0.46 on Friday, reaching $17.80. The stock had a trading volume of 353,897 shares, compared to its average volume of 1,017,930. The business’s 50-day moving average price is $17.76 and its two-hundred day moving average price is $22.87. The company has a market cap of $1.66 billion, a P/E ratio of 8.17 and a beta of 1.06. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). The business had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. NextEra Energy Partners’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 EPS. Sell-side analysts forecast that NextEra Energy Partners, LP will post 1.96 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $3.67 dividend on an annualized basis and a dividend yield of 20.62%. 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.