Tealwood Asset Management Inc. trimmed its holdings in Nextera Energy Partners LP (NYSE:NEP) by 5.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,068 shares of the solar energy provider’s stock after selling 2,834 shares during the period. Tealwood Asset Management Inc. owned 0.09% of Nextera Energy Partners worth $2,561,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Elmwood Wealth Management Inc. lifted its position in shares of Nextera Energy Partners by 2.3% in the first quarter. Elmwood Wealth Management Inc. now owns 12,185 shares of the solar energy provider’s stock valued at $568,000 after buying an additional 275 shares during the last quarter. ETF Managers Group LLC increased its stake in shares of Nextera Energy Partners by 10.4% during the first quarter. ETF Managers Group LLC now owns 3,652 shares of the solar energy provider’s stock worth $170,000 after purchasing an additional 344 shares during the period. Global Retirement Partners LLC increased its stake in shares of Nextera Energy Partners by 113.1% during the first quarter. Global Retirement Partners LLC now owns 767 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 407 shares during the period. Advisor Group Inc. increased its stake in shares of Nextera Energy Partners by 11.6% during the second quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock worth $193,000 after purchasing an additional 414 shares during the period. Finally, Boston Advisors LLC increased its stake in shares of Nextera Energy Partners by 1.5% during the first quarter. Boston Advisors LLC now owns 34,675 shares of the solar energy provider’s stock worth $1,617,000 after purchasing an additional 513 shares during the period. 79.48% of the stock is owned by institutional investors.
Nextera Energy Partners stock traded up $0.49 during mid-day trading on Thursday, reaching $49.70. 5,426 shares of the company were exchanged, compared to its average volume of 249,726. The company has a fifty day simple moving average of $49.40 and a 200-day simple moving average of $46.48. Nextera Energy Partners LP has a 12 month low of $39.35 and a 12 month high of $50.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.38 and a quick ratio of 1.38. The firm has a market cap of $2.75 billion, a PE ratio of 17.08, a PEG ratio of 13.59 and a beta of 0.93.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, August 14th. Stockholders of record on Tuesday, August 6th were paid a $0.502 dividend. The ex-dividend date was Monday, August 5th. This represents a $2.01 annualized dividend and a dividend yield of 4.04%. Nextera Energy Partners’s payout ratio is 69.07%.
NEP has been the topic of a number of recent research reports. Zacks Investment Research upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 target price on the stock in a research note on Wednesday, June 26th. Barclays increased their target price on Nextera Energy Partners from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday, July 23rd. Finally, ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Three equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Nextera Energy Partners currently has a consensus rating of “Buy” and a consensus target price of $50.50.
About Nextera Energy Partners
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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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