12,088 Shares in NextEra Energy Partners, LP (NYSE:NEP) Purchased by LexAurum Advisors LLC

LexAurum Advisors LLC acquired a new stake in NextEra Energy Partners, LP (NYSE:NEP) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 12,088 shares of the solar energy provider’s stock, valued at approximately $215,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. M&G PLC increased its holdings in shares of NextEra Energy Partners by 19.3% in the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after acquiring an additional 496,383 shares during the last quarter. Redwood Grove Capital LLC increased its stake in NextEra Energy Partners by 19.7% during the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock valued at $27,129,000 after purchasing an additional 161,436 shares during the last quarter. abrdn plc increased its stake in NextEra Energy Partners by 6.2% during the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock valued at $23,483,000 after purchasing an additional 49,400 shares during the last quarter. Rockefeller Capital Management L.P. raised its holdings in shares of NextEra Energy Partners by 8.0% during the third quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider’s stock worth $17,417,000 after purchasing an additional 46,728 shares during the period. Finally, Thrivent Financial for Lutherans bought a new position in shares of NextEra Energy Partners in the 3rd quarter worth about $16,186,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on NEP. CIBC dropped their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Morgan Stanley upgraded NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a research report on Monday, December 2nd. Scotiabank reduced their price objective on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, December 12th. Barclays reaffirmed an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research report on Friday, October 4th. Finally, Evercore ISI reduced their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $24.50.

NextEra Energy Partners Stock Down 6.6 %

NEP opened at $15.74 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The company has a market capitalization of $1.47 billion, a PE ratio of 7.22 and a beta of 1.06. The stock’s fifty day moving average is $17.51 and its 200-day moving average is $22.09. NextEra Energy Partners, LP has a one year low of $15.55 and a one year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results 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 business had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same quarter last year, the firm posted $0.57 earnings per share. NextEra Energy Partners’s revenue was up 3.6% compared to the same quarter last year. On average, equities analysts predict that NextEra Energy Partners, LP will post 2.06 EPS for the current fiscal year.

NextEra Energy Partners 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.