Abundance Wealth Counselors Has $1.15 Million Position in NextEra Energy Partners, LP (NYSE:NEP)

Abundance Wealth Counselors lessened its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 64,558 shares of the solar energy provider’s stock after selling 2,148 shares during the quarter. Abundance Wealth Counselors owned approximately 0.07% of NextEra Energy Partners worth $1,149,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in NEP. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in shares of NextEra Energy Partners in the fourth quarter worth about $21,449,000. Thrivent Financial for Lutherans bought a new position in shares of NextEra Energy Partners in the 3rd quarter valued at approximately $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 lifted its holdings in NextEra Energy Partners by 19.3% in 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. Finally, Redwood Grove Capital LLC boosted its position in NextEra Energy Partners by 19.7% during the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after purchasing an additional 161,436 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $10.56 on Friday. The firm’s 50-day simple moving average is $17.07 and its 200-day simple moving average is $21.56. NextEra Energy Partners, LP has a twelve month low of $9.98 and a twelve 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 released its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a positive return on equity of 1.34% and a negative net margin of 0.73%. Equities analysts forecast that NextEra Energy Partners, LP will post 1.54 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NEP shares. BMO Capital Markets restated a “market perform” rating and issued a $18.00 price objective (down from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. JPMorgan Chase & Co. cut their target price on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating for the company in a research report on Thursday, January 23rd. Guggenheim lowered their price target on NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday. CIBC cut their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. Finally, Barclays restated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $22.07.

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.