Jaffetilchin Investment Partners LLC Decreases Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Jaffetilchin Investment Partners LLC decreased its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 11.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,507 shares of the solar energy provider’s stock after selling 1,679 shares during the period. Jaffetilchin Investment Partners LLC’s holdings in NextEra Energy Partners were worth $376,000 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 the company. M&G Plc acquired a new stake in shares of NextEra Energy Partners during the first quarter valued at about $83,069,000. 1832 Asset Management L.P. grew its stake in NextEra Energy Partners by 599.4% during the 4th quarter. 1832 Asset Management L.P. now owns 2,602,485 shares of the solar energy provider’s stock valued at $79,142,000 after purchasing an additional 2,230,374 shares in the last quarter. M&G Investment Management Ltd. increased its holdings in NextEra Energy Partners by 27.1% during the 4th quarter. M&G Investment Management Ltd. now owns 3,044,055 shares of the solar energy provider’s stock worth $91,322,000 after purchasing an additional 648,775 shares during the last quarter. Commerce Bank acquired a new position in shares of NextEra Energy Partners in the 1st quarter valued at approximately $15,597,000. Finally, Verition Fund Management LLC purchased a new position in shares of NextEra Energy Partners during the 4th quarter valued at approximately $14,269,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Stock Performance

NEP traded up $0.79 during trading hours on Thursday, hitting $26.34. The company’s stock had a trading volume of 1,515,139 shares, compared to its average volume of 1,480,039. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $53.29. The company has a 50-day simple moving average of $28.96 and a 200 day simple moving average of $28.99. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $2.46 billion, a PE ratio of 8.38 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. As a group, sell-side analysts expect that NextEra Energy Partners, LP will post 1.81 EPS for the current year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th will be issued a dividend of $0.905 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.89. This represents a $3.62 dividend on an annualized basis and a yield of 13.74%. The ex-dividend date is Tuesday, August 6th. NextEra Energy Partners’s payout ratio is presently 117.05%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NEP shares. Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. BMO Capital Markets reduced their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday, April 24th. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Finally, Barclays lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $33.00.

NextEra Energy Partners Company 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.