Graham Capital Wealth Management LLC Takes $3 Million Position in NextEra Energy Partners, LP (NYSE:NEP)

Graham Capital Wealth Management LLC bought a new stake in NextEra Energy Partners, LP (NYSE:NEP) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 168,706 shares of the solar energy provider’s stock, valued at approximately $3,003,000. NextEra Energy Partners makes up about 2.7% of Graham Capital Wealth Management LLC’s holdings, making the stock its 12th biggest holding. Graham Capital Wealth Management LLC owned about 0.18% of NextEra Energy Partners as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new stake in NextEra Energy Partners during the 4th quarter valued at approximately $21,449,000. Thrivent Financial for Lutherans acquired a new stake in NextEra Energy Partners during the 3rd quarter valued at approximately $16,186,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners during the 3rd quarter valued at approximately $15,310,000. M&G PLC grew its position in shares of 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 acquiring an additional 496,383 shares in the last quarter. Finally, Redwood Grove Capital LLC grew its position in shares of NextEra Energy Partners by 19.7% in the 3rd quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after acquiring an additional 161,436 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 1.1 %

Shares of NEP stock opened at $10.56 on Monday. 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, LP has a 1 year low of $9.98 and a 1 year high of $35.15. The stock has a fifty day moving average of $17.07 and a two-hundred day moving average of $21.48. The firm has a market capitalization of $987.21 million, a PE ratio of -105.55 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, topping 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%. As a group, research analysts expect that NextEra Energy Partners, LP will post 1.54 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on NEP. Scotiabank decreased their target price on NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating for the company in a research report on Wednesday, January 29th. Evercore ISI decreased their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Guggenheim decreased their target price on NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday, January 29th. Mizuho decreased their target price 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, Morgan Stanley restated an “underweight” rating and set a $13.00 price objective (down previously from $22.00) on shares of NextEra Energy Partners in a research report on Monday. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $21.47.

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.