Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of Nextera Energy Partners LP (NYSE:NEP) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 3,900 shares of the solar energy provider’s stock, valued at approximately $206,000.
A number of other institutional investors have also recently made changes to their positions in NEP. Manchester Financial Inc. acquired a new stake in shares of Nextera Energy Partners in the 2nd quarter valued at approximately $27,000. CWM LLC acquired a new stake in Nextera Energy Partners during the 3rd quarter worth approximately $53,000. AGF Investments LLC acquired a new stake in Nextera Energy Partners during the 2nd quarter worth approximately $49,000. Cubist Systematic Strategies LLC acquired a new stake in Nextera Energy Partners during the 2nd quarter worth approximately $57,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in Nextera Energy Partners during the 2nd quarter worth approximately $57,000. Hedge funds and other institutional investors own 74.94% of the company’s stock.
In related news, Director Peter H. Kind purchased 1,000 shares of the firm’s stock in a transaction dated Friday, October 25th. The shares were purchased at an average cost of $51.78 per share, for a total transaction of $51,780.00. Following the completion of the transaction, the director now directly owns 19,590 shares in the company, valued at approximately $1,014,370.20. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.61% of the company’s stock.
Shares of NEP traded up $0.33 during midday trading on Wednesday, hitting $51.10. 5,321 shares of the company traded hands, compared to its average volume of 299,632. The stock has a 50-day moving average of $51.54 and a 200-day moving average of $49.13. Nextera Energy Partners LP has a one year low of $39.35 and a one year high of $53.90. The firm has a market cap of $3.10 billion, a P/E ratio of 17.59 and a beta of 0.90. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.60 and a quick ratio of 1.60.
Nextera Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($1.61). Nextera Energy Partners had a negative net margin of 16.67% and a negative return on equity of 2.49%. The company had revenue of $253.00 million for the quarter, compared to the consensus estimate of $354.51 million. During the same quarter in the prior year, the company earned $0.58 earnings per share. Sell-side analysts forecast that Nextera Energy Partners LP will post -1.43 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be given a dividend of $0.517 per share. The ex-dividend date is Tuesday, November 5th. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.50. This represents a $2.07 annualized dividend and a dividend yield of 4.05%. Nextera Energy Partners’s dividend payout ratio is currently 71.13%.
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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