Mirae Asset Global Investments Co. Ltd. Trims Stock Position in NextEra Energy Partners, LP (NYSE:NEP)

Mirae Asset Global Investments Co. Ltd. decreased its holdings in NextEra Energy Partners, LP (NYSE:NEP) by 12.6% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 33,272 shares of the solar energy provider’s stock after selling 4,814 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in NextEra Energy Partners were worth $1,012,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. National Bank of Canada FI grew its holdings in NextEra Energy Partners by 69.5% during the third quarter. National Bank of Canada FI now owns 48,071 shares of the solar energy provider’s stock valued at $1,428,000 after purchasing an additional 19,713 shares during the period. IFP Advisors Inc lifted its holdings in NextEra Energy Partners by 92.4% during the third quarter. IFP Advisors Inc now owns 2,115 shares of the solar energy provider’s stock valued at $63,000 after purchasing an additional 1,016 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of NextEra Energy Partners by 22.7% in the third quarter. Commonwealth Equity Services LLC now owns 43,746 shares of the solar energy provider’s stock worth $1,299,000 after purchasing an additional 8,094 shares during the period. Cambridge Investment Research Advisors Inc. increased its stake in shares of NextEra Energy Partners by 4.8% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock worth $320,000 after purchasing an additional 496 shares in the last quarter. Finally, Kingswood Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners during the 3rd quarter valued at $436,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

NextEra Energy Partners Trading Up 4.6 %

NEP stock opened at $28.71 on Wednesday. The company has a market capitalization of $2.68 billion, a PE ratio of 13.51 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. NextEra Energy Partners, LP has a 12 month low of $20.17 and a 12 month high of $64.43. The firm’s 50-day moving average is $28.27 and its 200 day moving average is $27.30.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.17 by $0.58. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. NextEra Energy Partners’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.17) earnings per share. On average, research analysts anticipate that NextEra Energy Partners, LP will post 0.9 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on NEP shares. Evercore ISI initiated coverage on NextEra Energy Partners in a research note on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price target for the company. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. StockNews.com upgraded shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Raymond James decreased their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, April 3rd. Finally, Barclays began coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 target price on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have given a buy rating to the company. According to data from MarketBeat, NextEra Energy Partners has an average rating of “Hold” and a consensus target price of $43.88.

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.