Global X Management Co LLC lowered its stake in Nextera Energy Partners LP (NYSE:NEP) by 7.1% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 36,366 shares of the solar energy provider’s stock after selling 2,768 shares during the quarter. Global X Management Co LLC owned about 0.07% of Nextera Energy Partners worth $1,697,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. IFP Advisors Inc lifted its stake in shares of Nextera Energy Partners by 124.0% in the 1st quarter. IFP Advisors Inc now owns 2,558 shares of the solar energy provider’s stock valued at $102,000 after purchasing an additional 1,416 shares during the period. Allen Capital Group LLC acquired a new position in shares of Nextera Energy Partners in the 2nd quarter valued at $208,000. Koch Industries Inc. acquired a new position in shares of Nextera Energy Partners in the 1st quarter valued at $212,000. Atria Investments LLC acquired a new position in shares of Nextera Energy Partners in the 2nd quarter valued at $224,000. Finally, Jane Street Group LLC acquired a new position in shares of Nextera Energy Partners in the 2nd quarter valued at $228,000. 83.68% of the stock is currently owned by institutional investors.

NEP opened at $48.64 on Monday. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.59 and a quick ratio of 4.59. Nextera Energy Partners LP has a 12 month low of $36.42 and a 12 month high of $50.66. The firm has a market capitalization of $2.64 billion, a P/E ratio of 73.70, a PEG ratio of 1.82 and a beta of 1.20.

Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings data on Wednesday, July 25th. The solar energy provider reported $1.43 EPS for the quarter, beating the Zacks’ consensus estimate of $0.48 by $0.95. Nextera Energy Partners had a net margin of 8.88% and a return on equity of 6.86%. The business had revenue of $225.00 million during the quarter, compared to analysts’ expectations of $278.31 million. sell-side analysts forecast that Nextera Energy Partners LP will post 2.96 earnings per share for the current fiscal year.

A number of research analysts have recently weighed in on NEP shares. Zacks Investment Research raised Nextera Energy Partners from a “hold” rating to a “strong-buy” rating and set a $53.00 price target on the stock in a research note on Wednesday, June 27th. Raymond James downgraded Nextera Energy Partners from an “outperform” rating to a “market perform” rating and set a $35.00 price target on the stock. in a research note on Thursday, July 5th. Morgan Stanley downgraded Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $50.00 price target on the stock. in a research note on Monday, July 16th. Guggenheim reissued a “buy” rating and issued a $50.00 price target on shares of Nextera Energy Partners in a research note on Monday, July 23rd. Finally, Howard Weil reissued a “sector perform” rating on shares of Nextera Energy Partners in a research note on Tuesday, July 24th. Six investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $46.55.

Nextera Energy Partners Profile

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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