Cubist Systematic Strategies LLC acquired a new stake in Nextera Energy Partners LP (NYSE:NEP) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 1,175 shares of the solar energy provider’s stock, valued at approximately $57,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Advisor Group Inc. lifted its position in Nextera Energy Partners by 11.6% in the second quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock valued at $193,000 after acquiring an additional 414 shares during the last quarter. Manchester Financial Inc. acquired a new position in Nextera Energy Partners in the second quarter valued at $27,000. LPL Financial LLC increased its stake in shares of Nextera Energy Partners by 6.8% during the second quarter. LPL Financial LLC now owns 13,273 shares of the solar energy provider’s stock worth $640,000 after acquiring an additional 848 shares during the period. AGF Investments LLC acquired a new position in shares of Nextera Energy Partners during the second quarter worth about $49,000. Finally, Flagship Harbor Advisors LLC increased its stake in shares of Nextera Energy Partners by 107.5% during the second quarter. Flagship Harbor Advisors LLC now owns 2,004 shares of the solar energy provider’s stock worth $96,000 after acquiring an additional 1,038 shares during the period. 74.73% of the stock is owned by institutional investors.
A number of brokerages have recently issued reports on NEP. ValuEngine upgraded shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Friday, November 1st. Zacks Investment Research upgraded shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price target on the stock in a research note on Thursday, October 3rd. Barclays upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $52.00 to $61.00 in a research note on Tuesday, October 8th. Credit Suisse Group upped their target price on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Co upped their target price on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 1st. One research analyst has rated the stock with a hold rating and six have issued a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $54.00.
In other Nextera Energy Partners news, Director Peter H. Kind acquired 1,000 shares of the company’s stock in a transaction dated Friday, October 25th. The stock was bought at an average price of $51.78 per share, with a total value of $51,780.00. Following the completion of the transaction, the director now directly owns 19,590 shares of the company’s stock, valued at $1,014,370.20. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is owned by corporate insiders.
Shares of NEP traded up $0.58 on Friday, hitting $50.95. 319,770 shares of the stock traded hands, compared to its average volume of 299,767. Nextera Energy Partners LP has a 1 year low of $39.35 and a 1 year high of $53.90. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $51.68 and its two-hundred day moving average is $49.07. The firm has a market capitalization of $3.13 billion, a P/E ratio of 17.51 and a beta of 0.90.
Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) EPS for the quarter, missing the consensus estimate of $0.40 by ($1.61). Nextera Energy Partners had a negative return on equity of 2.49% and a negative net margin of 16.67%. The company had revenue of $253.00 million for the quarter, compared to analyst estimates of $354.51 million. During the same period last year, the company posted $0.58 EPS. Research analysts forecast that Nextera Energy Partners LP will post -1.43 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, November 14th. Stockholders of record on Wednesday, November 6th will be given a $0.517 dividend. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $2.07 annualized dividend and a dividend yield of 4.06%. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.50. Nextera Energy Partners’s dividend payout ratio is presently 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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