Healthcare of Ontario Pension Plan Trust Fund Sells 3,797 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Healthcare of Ontario Pension Plan Trust Fund lowered its position in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 5.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 63,968 shares of the solar energy provider’s stock after selling 3,797 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund owned approximately 0.08% of NextEra Energy Partners worth $5,332,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. 1832 Asset Management L.P. raised its position in shares of NextEra Energy Partners by 2.2% during the fourth quarter. 1832 Asset Management L.P. now owns 1,797,802 shares of the solar energy provider’s stock worth $151,317,000 after acquiring an additional 39,408 shares during the last quarter. Eventide Asset Management LLC increased its holdings in NextEra Energy Partners by 8.7% in the fourth quarter. Eventide Asset Management LLC now owns 1,664,600 shares of the solar energy provider’s stock valued at $140,492,000 after purchasing an additional 132,600 shares during the last quarter. Pictet Asset Management SA increased its holdings in NextEra Energy Partners by 7.1% in the fourth quarter. Pictet Asset Management SA now owns 1,226,484 shares of the solar energy provider’s stock valued at $103,515,000 after purchasing an additional 81,371 shares during the last quarter. Beach Investment Counsel Inc. PA bought a new stake in NextEra Energy Partners in the first quarter valued at about $92,207,000. Finally, Bank of America Corp DE increased its holdings in NextEra Energy Partners by 2.0% in the fourth quarter. Bank of America Corp DE now owns 944,073 shares of the solar energy provider’s stock valued at $79,680,000 after purchasing an additional 18,600 shares during the last quarter. Institutional investors own 83.22% of the company’s stock.

NextEra Energy Partners Stock Down 0.2 %

NYSE:NEP opened at $81.33 on Friday. NextEra Energy Partners, LP has a 1 year low of $61.31 and a 1 year high of $88.80. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.40. The stock has a market cap of $6.82 billion, a price-to-earnings ratio of 18.28, a PEG ratio of 1.84 and a beta of 0.86. The stock has a 50-day moving average price of $79.26 and a two-hundred day moving average price of $75.84.

NextEra Energy Partners (NYSE:NEPGet Rating) last posted its quarterly earnings data on Friday, July 22nd. The solar energy provider reported $2.61 earnings per share for the quarter, topping the consensus estimate of $0.30 by $2.31. The company had revenue of $362.00 million during the quarter, compared to analysts’ expectations of $345.09 million. NextEra Energy Partners had a return on equity of 4.21% and a net margin of 39.66%. NextEra Energy Partners’s revenue for the quarter was up 43.1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.97) earnings per share. As a group, equities analysts expect that NextEra Energy Partners, LP will post 4.52 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Stockholders of record on Thursday, August 4th were given a dividend of $0.7625 per share. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.73. This represents a $3.05 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Wednesday, August 3rd. NextEra Energy Partners’s dividend payout ratio is currently 68.54%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on NEP shares. KeyCorp upped their price objective on NextEra Energy Partners from $86.00 to $89.00 and gave the company an “overweight” rating in a report on Thursday, August 11th. CIBC started coverage on NextEra Energy Partners in a report on Thursday, June 9th. They issued a “neutral” rating and a $79.00 price objective for the company. TheStreet upgraded NextEra Energy Partners from a “c” rating to a “b-” rating in a report on Thursday, June 30th. Bank of America upped their price objective on NextEra Energy Partners from $60.00 to $70.00 and gave the company an “underperform” rating in a report on Friday, August 19th. Finally, UBS Group set a $90.00 target price on NextEra Energy Partners in a research note on Monday, June 20th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, NextEra Energy Partners has an average rating of “Hold” and an average price target of $84.38.

About NextEra Energy Partners

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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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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