Enterprise Bank & Trust Co cut its position in shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating) by 8.0% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 39,711 shares of the solar energy provider’s stock after selling 3,452 shares during the quarter. 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 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Cassady Schiller Wealth Management LLC acquired a new stake in NextEra Energy Partners during the fourth quarter valued at $25,000. Amplius Wealth Advisors LLC acquired a new position in shares of NextEra Energy Partners in the 4th quarter worth approximately $27,000. Lazard Asset Management LLC bought a new stake in NextEra Energy Partners during the 4th quarter worth approximately $27,000. Harbor Investment Advisory LLC boosted its position in NextEra Energy Partners by 300.0% in the 4th quarter. Harbor Investment Advisory LLC now owns 400 shares of the solar energy provider’s stock valued at $34,000 after buying an additional 300 shares during the last quarter. Finally, PrairieView Partners LLC acquired a new position in shares of NextEra Energy Partners in the 4th quarter valued at $37,000. Institutional investors and hedge funds own 81.32% of the company’s stock.
A number of equities analysts recently commented on NEP shares. Royal Bank of Canada upgraded NextEra Energy Partners from a “sector perform” rating to an “outperform” rating and lifted their price target for the stock from $86.00 to $89.00 in a report on Friday, June 17th. Raymond James cut shares of NextEra Energy Partners from a “market perform” rating to an “underperform” rating in a research note on Tuesday, April 5th. KeyCorp reduced their price objective on shares of NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. 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 price target on the stock. Finally, StockNews.com upgraded shares of NextEra Energy Partners from a “sell” rating to a “hold” rating in a report on Sunday, April 3rd. One research analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $84.86.
NextEra Energy Partners (NYSE:NEP – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.42 by $1.30. NextEra Energy Partners had a net margin of 15.13% and a return on equity of 1.58%. The company had revenue of $281.00 million during the quarter, compared to analyst estimates of $305.98 million. During the same period last year, the firm posted $2.66 EPS. NextEra Energy Partners’s revenue for the quarter was up 14.2% compared to the same quarter last year. Analysts predict that NextEra Energy Partners, LP will post 2.58 earnings per share for the current fiscal year.
The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, May 4th. 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%. NextEra Energy Partners’s dividend payout ratio is 336.78%.
NextEra Energy Partners Profile (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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