NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by Duality Advisers LP

Duality Advisers LP trimmed its holdings in shares of NextEra Energy Partners, LP (NYSE:NEP) by 59.3% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 7,501 shares of the solar energy provider’s stock after selling 10,919 shares during the period. Duality Advisers LP’s holdings in NextEra Energy Partners were worth $228,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also modified their holdings of the company. Parkside Financial Bank & Trust increased its stake in NextEra Energy Partners by 60.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after purchasing an additional 454 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its position in NextEra Energy Partners by 4.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock worth $320,000 after buying an additional 496 shares in the last quarter. CWM LLC increased its position in NextEra Energy Partners by 160.2% during the fourth 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. Gilman Hill Asset Management LLC increased its position in NextEra Energy Partners by 5.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock worth $342,000 after buying an additional 575 shares in the last quarter. Finally, Abundance Wealth Counselors increased its position in NextEra Energy Partners by 1.6% during the third quarter. Abundance Wealth Counselors now owns 37,659 shares of the solar energy provider’s stock worth $1,118,000 after buying an additional 595 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Evercore ISI assumed coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target for the company. Raymond James dropped their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. CIBC downgraded NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, January 9th. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a research report on Wednesday. Finally, Barclays assumed coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price objective on the stock. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and an average price target of $43.88.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock opened at $28.93 on Friday. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $63.89. The stock has a market capitalization of $2.71 billion, a P/E ratio of 9.49 and a beta of 1.00. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The business’s fifty day moving average price is $28.32 and its 200 day moving average price is $27.37.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.63. The company had revenue of $257.00 million for the quarter, compared to analysts’ expectations of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.17) earnings per share. As a group, research analysts anticipate that NextEra Energy Partners, LP will post 1.33 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a dividend yield of 12.34%. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is currently 115.41%.

About NextEra Energy Partners

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.