Ervin Investment Management LLC lifted its position in shares of NextEra Energy Partners, LP (NYSE:NEP – Get Rating ) by 13.3% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,567 shares of the solar energy provider’s stock after purchasing an additional 2,526 shares during the quarter. NextEra Energy Partners makes up about 1.5% of Ervin Investment Management LLC’s investment portfolio, making the stock its 15th largest position. Ervin Investment Management LLC’s holdings in NextEra Energy Partners were worth $1,559,000 at the end of the most recent reporting period.
Other large investors have also added to or reduced their stakes in the company. Naples Global Advisors LLC boosted its holdings in shares of NextEra Energy Partners by 0.6% during the third quarter. Naples Global Advisors LLC now owns 26,390 shares of the solar energy provider’s stock valued at $1,908,000 after buying an additional 150 shares in the last quarter. Advisory Services Network LLC boosted its holdings in shares of NextEra Energy Partners by 5.8% in the second quarter. Advisory Services Network LLC now owns 3,063 shares of the solar energy provider’s stock valued at $227,000 after buying an additional 167 shares in the last quarter. Arden Trust Co boosted its holdings in shares of NextEra Energy Partners by 3.1% during the third quarter. Arden Trust Co now owns 5,983 shares of the solar energy provider’s stock valued at $433,000 after buying an additional 180 shares during the last quarter. Lee Financial Co boosted its holdings in shares of NextEra Energy Partners by 0.8% in the second quarter. Lee Financial Co now owns 23,410 shares of the solar energy provider’s stock valued at $1,736,000 after buying an additional 196 shares during the last quarter. Finally, Strategic Blueprint LLC boosted its holdings in shares of NextEra Energy Partners by 2.8% during the second quarter. Strategic Blueprint LLC now owns 7,242 shares of the solar energy provider’s stock valued at $537,000 after purchasing an additional 198 shares during the last quarter. Hedge funds and other institutional investors own 83.05% of the company’s shares.
NextEra Energy Partners trades down 0.9%
Shares of NEP traded down $0.63 during mid-day trading on Wednesday, reaching $72.67. 28,794 shares of the stock traded hands, compared to its average volume of 644,643. The company has a debt-to-equity ratio of 0.38, a quick-earnings ratio of 1.80 and a current ratio of 1.91. NextEra Energy Partners, LP has a one year low of $61.31 and a one year high of $86.06. The stock has a market cap of $6.29 billion, a PE ratio of 12.95, a PEG ratio of 2.89 and a beta of 0.92. The business has a 50-day moving average of $74.68 and a 200-day moving average of $77.07.
NextEra Energy Partners (NYSE:NEP – Get Rating ) last posted its quarterly earnings data on Wednesday, January 25th. The solar energy provider reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.12). NextEra Energy Partners had a net margin of 39.39% and a return on equity of 4.00%. The firm had revenue of $266.00 million for the quarter, compared to the consensus estimate of $336.74 million. During the same quarter last year, the firm earned ($0.12) EPS. The company’s revenue increased by 14.7% year-on-year. equities research analysts expect that NextEra Energy Partners, LP will post 2.49 EPS for the current year.
NextEra Energy Partners Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, February 14th. Shareholders of record on Monday, February 6th will be given a $0.8125 dividend. The ex-dividend date of this dividend is Friday, February 3rd. This is a boost from NextEra Energy Partners’ previous quarterly dividend of $0.79. This represents an annualized dividend of $3.25 and a dividend yield of 4.47%. NextEra Energy Partners’ dividend payout ratio is currently 55.65%.
The Wall Street analyst weighs in
Several equities analysts recently commented on NEP shares. Raymond James raised shares of NextEra Energy Partners from an “underperform” rating to a “market perform” rating in a report on Wednesday, January 4th. KeyCorp cut their target price 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 Thursday, October 20th. Morgan Stanley cut their target price on shares of NextEra Energy Partners from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research note on Monday, January 23rd. Wells Fargo & Company cut their target price on shares of NextEra Energy Partners from $93.00 to $90.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 19th. Finally, StockNews.com downgraded shares of NextEra Energy Partners from a “hold” rating to a “sell” rating in a research note on Thursday, January 26th. Two analysts have rated the stock with a sell rating, three have given a hold rating and six have issued a buy rating to the company’s stock. NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $85.40, based on data from MarketBeat.
NextEra Energy Partners company profile
NextEra Energy Partners LP is engaged in the acquisition, management and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juneau Beach, Florida.
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