B. Riley Wealth Advisors Inc. Sells 2,624 Shares of NextEra Energy Partners, LP (NYSE:NEP)

B. Riley Wealth Advisors Inc. reduced its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 24.6% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 8,024 shares of the solar energy provider’s stock after selling 2,624 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in NextEra Energy Partners were worth $210,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Ameritas Advisory Services LLC raised its position in shares of NextEra Energy Partners by 1.4% during the second quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after acquiring an additional 412 shares during the last quarter. Brown Miller Wealth Management LLC raised its holdings in NextEra Energy Partners by 2.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after purchasing an additional 433 shares during the last quarter. Pathway Financial Advisers LLC lifted its position in shares of NextEra Energy Partners by 0.9% in the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares during the period. Arizona State Retirement System boosted its stake in shares of NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after purchasing an additional 509 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC increased its position in shares of NextEra Energy Partners by 4.6% during the second quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after buying an additional 581 shares during the period. 66.01% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Trading Up 0.6 %

NEP opened at $17.61 on Friday. The firm has a market capitalization of $1.65 billion, a PE ratio of 8.08 and a beta of 1.07. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. NextEra Energy Partners, LP has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The company’s 50-day moving average is $19.15 and its 200 day moving average is $24.00.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The company had revenue of $319.00 million during the quarter, compared to analysts’ expectations of $332.25 million. During the same period last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 3.6% compared to the same quarter last year. As a group, research analysts predict that NextEra Energy Partners, LP will post 1.96 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date of this dividend was Wednesday, November 6th. This represents a $3.67 annualized dividend and a dividend yield of 20.84%. NextEra Energy Partners’s dividend payout ratio is presently 168.35%.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Jefferies Financial Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and dropped their price objective for the company from $25.00 to $22.00 in a research note on Thursday, October 24th. BMO Capital Markets decreased their target price on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research note on Monday, October 21st. Evercore ISI dropped their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. Finally, Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $37.00 to $22.00 in a research report on Monday, October 28th. Three investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $26.00.

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.