Loring Wolcott & Coolidge Fiduciary Advisors LLP MA Makes New $206,000 Investment in Nextera Energy Partners LP (NYSE:NEP)

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.

Several research analysts have issued reports on NEP shares. Barclays upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $52.00 to $61.00 in a report on Tuesday, October 8th. ValuEngine upgraded shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Wells Fargo & Co boosted their price target on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Credit Suisse Group boosted their price target on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Zacks Investment Research raised shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price objective on the stock in a report on Thursday, October 3rd. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Nextera Energy Partners presently has a consensus rating of “Buy” and an average price target of $54.00.

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

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