Global X Management Co. LLC boosted its stake in NextEra Energy Partners, LP (NYSE:NEP) by 47.9% during the second quarter, Holdings Channel reports. The fund owned 17,704 shares of the solar energy provider’s stock after buying an additional 5,733 shares during the period. Global X Management Co. LLC’s holdings in NextEra Energy Partners, were worth $655,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Clinton Group Inc. raised its position in shares of NextEra Energy Partners, by 2.5% in the first quarter. Clinton Group Inc. now owns 30,895 shares of the solar energy provider’s stock valued at $1,024,000 after buying an additional 765 shares during the last quarter. Credit Suisse AG raised its position in shares of NextEra Energy Partners, by 1.8% in the first quarter. Credit Suisse AG now owns 44,883 shares of the solar energy provider’s stock valued at $1,487,000 after buying an additional 772 shares during the last quarter. Berson & Corrado Investment Advisors LLC raised its position in shares of NextEra Energy Partners, by 5.7% in the second quarter. Berson & Corrado Investment Advisors LLC now owns 19,064 shares of the solar energy provider’s stock valued at $705,000 after buying an additional 1,030 shares during the last quarter. Tortoise Capital Advisors L.L.C. raised its position in shares of NextEra Energy Partners, by 5.6% in the second quarter. Tortoise Capital Advisors L.L.C. now owns 45,906 shares of the solar energy provider’s stock valued at $1,698,000 after buying an additional 2,433 shares during the last quarter. Finally, MAI Capital Management raised its position in shares of NextEra Energy Partners, by 3.4% in the first quarter. MAI Capital Management now owns 113,459 shares of the solar energy provider’s stock valued at $3,759,000 after buying an additional 3,711 shares during the last quarter. Institutional investors and hedge funds own 86.15% of the company’s stock.

NextEra Energy Partners, LP (NEP) opened at 39.70 on Wednesday. The company has a market cap of $2.15 billion, a price-to-earnings ratio of 21.86 and a beta of 1.26. NextEra Energy Partners, LP has a 12-month low of $23.90 and a 12-month high of $41.49. The stock has a 50 day moving average price of $38.74 and a 200-day moving average price of $34.52.

NextEra Energy Partners, (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by $0.19. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%. The company had revenue of $204 million during the quarter, compared to the consensus estimate of $232.03 million. On average, analysts predict that NextEra Energy Partners, LP will post $1.58 EPS for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, August 14th. Stockholders of record on Monday, August 7th were given a $0.38 dividend. This is a boost from NextEra Energy Partners,’s previous quarterly dividend of $0.37. This represents a $1.52 dividend on an annualized basis and a dividend yield of 3.83%. The ex-dividend date was Thursday, August 3rd. NextEra Energy Partners,’s payout ratio is currently 76.38%.

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Several research analysts have issued reports on the company. UBS AG reiterated a “neutral” rating and issued a $32.00 price target (up previously from $31.00) on shares of NextEra Energy Partners, in a report on Tuesday, April 25th. ValuEngine lowered NextEra Energy Partners, from a “buy” rating to a “hold” rating in a report on Friday, August 4th. Zacks Investment Research lowered NextEra Energy Partners, from a “buy” rating to a “hold” rating in a report on Tuesday, June 27th. Vetr upgraded NextEra Energy Partners, from a “sell” rating to a “hold” rating and set a $33.00 price target on the stock in a report on Monday, May 8th. Finally, BidaskClub upgraded NextEra Energy Partners, from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 10th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $38.57.

In related news, insider Armando Pimentel, Jr. purchased 5,000 shares of the company’s stock in a transaction dated Friday, July 14th. The shares were purchased at an average cost of $38.23 per share, with a total value of $191,150.00. Following the transaction, the insider now directly owns 20,000 shares in the company, valued at approximately $764,600. The purchase was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Mark E. Hickson purchased 1,350 shares of the company’s stock in a transaction dated Wednesday, July 5th. The stock was bought at an average cost of $37.51 per share, for a total transaction of $50,638.50. Following the completion of the transaction, the executive vice president now owns 4,780 shares in the company, valued at $179,297.80. The disclosure for this purchase can be found here. Insiders own 0.46% of the company’s stock.

About NextEra Energy Partners,

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

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

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