Commonwealth Equity Services LLC increased its position in shares of Nextera Energy Partners LP (NYSE:NEP) by 161.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,398 shares of the solar energy provider’s stock after purchasing an additional 8,264 shares during the period. Commonwealth Equity Services LLC’s holdings in Nextera Energy Partners were worth $649,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of NEP. Raymond James & Associates grew its stake in shares of Nextera Energy Partners by 694.9% during the second quarter. Raymond James & Associates now owns 514,192 shares of the solar energy provider’s stock worth $23,997,000 after purchasing an additional 449,505 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in Nextera Energy Partners in the second quarter valued at $3,440,000. Wells Fargo & Company MN lifted its position in Nextera Energy Partners by 30.5% in the second quarter. Wells Fargo & Company MN now owns 239,714 shares of the solar energy provider’s stock valued at $11,187,000 after acquiring an additional 55,973 shares during the last quarter. Jennison Associates LLC lifted its position in Nextera Energy Partners by 1.9% in the second quarter. Jennison Associates LLC now owns 2,364,375 shares of the solar energy provider’s stock valued at $110,345,000 after acquiring an additional 43,278 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in Nextera Energy Partners in the second quarter valued at $1,948,000. Hedge funds and other institutional investors own 83.25% of the company’s stock.

Shares of NYSE:NEP opened at $46.89 on Thursday. Nextera Energy Partners LP has a one year low of $36.84 and a one year high of $50.66. The company has a debt-to-equity ratio of 1.00, a current ratio of 5.54 and a quick ratio of 5.54. The stock has a market capitalization of $2.62 billion, a PE ratio of 71.05, a price-to-earnings-growth ratio of 1.52 and a beta of 1.17.

Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Tuesday, October 23rd. The solar energy provider reported $0.58 EPS for the quarter, beating analysts’ consensus estimates of $0.45 by $0.13. Nextera Energy Partners had a net margin of 13.55% and a return on equity of 7.34%. The business had revenue of $178.00 million during the quarter, compared to analysts’ expectations of $283.40 million. As a group, sell-side analysts predict that Nextera Energy Partners LP will post 3.39 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 14th. Stockholders of record on Tuesday, November 6th were issued a $0.45 dividend. This represents a $1.80 dividend on an annualized basis and a dividend yield of 3.84%. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.44. The ex-dividend date of this dividend was Monday, November 5th. Nextera Energy Partners’s dividend payout ratio is presently 272.73%.

NEP has been the subject of a number of research reports. Zacks Investment Research raised shares of Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $54.00 price target for the company in a research report on Thursday, September 20th. Mizuho initiated coverage on shares of Nextera Energy Partners in a research report on Monday, August 13th. They issued a “buy” rating and a $54.50 price target for the company. Morgan Stanley boosted their price target on shares of Nextera Energy Partners from $50.00 to $51.00 and gave the company a “hold” rating in a research report on Tuesday, September 11th. Bank of America cut shares of Nextera Energy Partners from a “buy” rating to a “neutral” rating in a research report on Thursday, October 25th. They noted that the move was a valuation call. Finally, Wells Fargo & Co boosted their price target on shares of Nextera Energy Partners from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $47.50.

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About Nextera Energy Partners

NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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

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