14,201 Shares in NextEra Energy Partners, LP (NYSE:NEP) Purchased by Empowered Funds LLC

Empowered Funds LLC bought a new position in shares of NextEra Energy Partners, LP (NYSE:NEPGet Rating) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 14,201 shares of the solar energy provider’s stock, valued at approximately $1,027,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NEP. ClearBridge Investments Ltd grew its holdings in NextEra Energy Partners by 94.8% in the first quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock valued at $128,470,000 after purchasing an additional 750,144 shares during the period. M&G Investment Management Ltd. lifted its position in shares of NextEra Energy Partners by 41.3% in the second quarter. M&G Investment Management Ltd. now owns 1,306,181 shares of the solar energy provider’s stock valued at $96,657,000 after acquiring an additional 382,039 shares in the last quarter. BlackRock Inc. lifted its position in shares of NextEra Energy Partners by 4.9% in the first quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock valued at $634,357,000 after acquiring an additional 356,265 shares in the last quarter. abrdn plc purchased a new position in NextEra Energy Partners during the second quarter worth approximately $18,818,000. Finally, Eaton Vance Management lifted its position in NextEra Energy Partners by 46.2% during the first quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider’s stock worth $60,939,000 after buying an additional 231,102 shares in the last quarter. 83.05% of the stock is owned by institutional investors and hedge funds.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $75.25 on Wednesday. NextEra Energy Partners, LP has a 52 week low of $61.31 and a 52 week high of $86.06. The company has a quick ratio of 1.80, a current ratio of 1.91 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $6.51 billion, a P/E ratio of 14.64, a P/E/G ratio of 2.48 and a beta of 0.92. The stock’s fifty day moving average is $75.23 and its two-hundred day moving average is $77.12.

NextEra Energy Partners (NYSE:NEPGet Rating) last issued its quarterly earnings data on Friday, October 28th. The solar energy provider reported $0.93 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.30. NextEra Energy Partners had a return on equity of 3.71% and a net margin of 36.70%. The business had revenue of $302.00 million during the quarter, compared to analysts’ expectations of $394.15 million. Equities analysts expect that NextEra Energy Partners, LP will post 5.76 EPS for the current year.

Analyst Ratings Changes

NEP has been the topic of a number of analyst reports. Raymond James upgraded NextEra Energy Partners from an “underperform” rating to a “market perform” rating in a research report on Wednesday, January 4th. Credit Suisse Group reduced their price objective on NextEra Energy Partners from $90.00 to $87.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 2nd. Morgan Stanley reduced their price objective on NextEra Energy Partners from $88.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Monday. Wells Fargo & Company reduced their price objective on NextEra Energy Partners from $93.00 to $90.00 and set an “overweight” rating on the stock in a research report on Wednesday, October 19th. Finally, KeyCorp reduced their price objective on NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, October 20th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and five have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $84.67.

NextEra Energy Partners Company Profile

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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.

Further Reading

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

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