NextEra Energy Partners, LP (NYSE:NEP) Shares Bought by Abundance Wealth Counselors

Abundance Wealth Counselors grew its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 14.8% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 58,279 shares of the solar energy provider’s stock after purchasing an additional 7,526 shares during the period. NextEra Energy Partners makes up approximately 0.7% of Abundance Wealth Counselors’ investment portfolio, making the stock its 24th largest holding. Abundance Wealth Counselors’ holdings in NextEra Energy Partners were worth $1,611,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. CWM LLC raised its position in shares of NextEra Energy Partners by 160.2% during the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after buying an additional 511 shares in the last quarter. Richardson Financial Services Inc. acquired a new stake in NextEra Energy Partners in the fourth quarter worth approximately $27,000. Hexagon Capital Partners LLC boosted its stake in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares in the last quarter. Heritage Wealth Advisors acquired a new position in shares of NextEra Energy Partners during the 4th quarter valued at $33,000. Finally, Central Pacific Bank Trust Division acquired a new position in shares of NextEra Energy Partners during the 1st quarter valued at $36,000. 66.01% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NEP has been the subject of several research reports. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Wednesday, June 12th. Finally, Raymond James lowered NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, eleven have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.00.

NextEra Energy Partners Stock Up 1.8 %

Shares of NYSE NEP traded up $0.45 during mid-day trading on Thursday, reaching $25.15. The company had a trading volume of 1,204,572 shares, compared to its average volume of 1,487,929. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $51.53. The stock’s 50 day moving average is $27.25 and its 200-day moving average is $28.80. The stock has a market capitalization of $2.35 billion, a PE ratio of 8.21 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results 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. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. As a group, equities analysts anticipate that NextEra Energy Partners, LP will post 1.78 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were issued a $0.905 dividend. The ex-dividend date of this dividend was Tuesday, August 6th. This represents a $3.62 dividend on an annualized basis and a yield of 14.39%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.89. NextEra Energy Partners’s dividend payout ratio is currently 118.69%.

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.