Massachusetts Financial Services Co. MA raised its position in NextEra Energy Partners, LP (NYSE:NEP) by 0.7% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 232,381 shares of the solar energy provider’s stock after buying an additional 1,652 shares during the quarter. Massachusetts Financial Services Co. MA owned about 0.30% of NextEra Energy Partners worth $17,745,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. CWM Advisors LLC increased its stake in shares of NextEra Energy Partners by 3.1% during the second quarter. CWM Advisors LLC now owns 4,950 shares of the solar energy provider’s stock worth $378,000 after acquiring an additional 150 shares during the period. Exchange Traded Concepts LLC increased its position in NextEra Energy Partners by 20.0% during the 2nd quarter. Exchange Traded Concepts LLC now owns 1,202 shares of the solar energy provider’s stock worth $92,000 after purchasing an additional 200 shares during the period. Kovack Advisors Inc. raised its stake in shares of NextEra Energy Partners by 3.7% during the 2nd quarter. Kovack Advisors Inc. now owns 7,303 shares of the solar energy provider’s stock worth $558,000 after buying an additional 260 shares in the last quarter. US Bancorp DE lifted its holdings in shares of NextEra Energy Partners by 2.5% in the 2nd quarter. US Bancorp DE now owns 10,908 shares of the solar energy provider’s stock valued at $833,000 after buying an additional 267 shares during the period. Finally, Vident Investment Advisory LLC boosted its stake in shares of NextEra Energy Partners by 8.6% in the second quarter. Vident Investment Advisory LLC now owns 3,406 shares of the solar energy provider’s stock valued at $260,000 after buying an additional 270 shares in the last quarter. Institutional investors own 83.80% of the company’s stock.
Shares of NYSE NEP opened at $78.31 on Thursday. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.42 and a quick ratio of 5.32. NextEra Energy Partners, LP has a 1-year low of $60.80 and a 1-year high of $88.29. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of 23.73, a PEG ratio of 1.48 and a beta of 0.73. The business has a 50-day moving average of $78.77 and a 200-day moving average of $74.84.
The company also recently declared a quarterly dividend, which was paid on Friday, August 13th. Investors of record on Thursday, August 5th were paid a dividend of $0.663 per share. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.64. The ex-dividend date was Wednesday, August 4th. This represents a $2.65 annualized dividend and a yield of 3.39%. NextEra Energy Partners’s payout ratio is -327.16%.
A number of equities analysts have recently weighed in on the stock. Zacks Investment Research cut shares of NextEra Energy Partners from a “hold” rating to a “sell” rating and set a $80.00 price target on the stock. in a research note on Wednesday, July 28th. KeyCorp initiated coverage on shares of NextEra Energy Partners in a research report on Monday, September 20th. They set an “overweight” rating on the stock. Morgan Stanley lifted their price target on shares of NextEra Energy Partners from $63.00 to $69.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 20th. UBS Group initiated coverage on NextEra Energy Partners in a report on Thursday, August 26th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Wells Fargo & Company reaffirmed an “overweight” rating and set a $74.03 price objective (down from $92.00) on shares of NextEra Energy Partners in a report on Monday, July 26th. Two analysts have rated the stock with a sell rating, three have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average price target of $80.20.
NextEra Energy Partners Profile
NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
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