Corrado Advisors LLC Raises Stake in NextEra Energy Partners, LP (NYSE:NEP)

Corrado Advisors LLC raised its stake in NextEra Energy Partners, LP (NYSE:NEP) by 67.9% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 50,009 shares of the solar energy provider’s stock after buying an additional 20,216 shares during the quarter. Corrado Advisors LLC’s holdings in NextEra Energy Partners were worth $1,521,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. CWM LLC raised its holdings in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the period. MV Capital Management Inc. purchased a new stake in NextEra Energy Partners in the 4th quarter valued at about $30,000. ORG Partners LLC raised its holdings in NextEra Energy Partners by 120.3% in the 3rd quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 670 shares during the period. Parkside Financial Bank & Trust raised its holdings in NextEra Energy Partners by 60.2% in the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after buying an additional 454 shares during the period. Finally, CI Investments Inc. raised its holdings in NextEra Energy Partners by 1,418.2% in the 3rd quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock valued at $55,000 after buying an additional 1,716 shares during the period. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NEP has been the topic of several research analyst reports. Raymond James reduced their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Tuesday, January 9th. JPMorgan Chase & Co. lifted their price objective on NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Friday, January 26th. Finally, Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $43.88.

NextEra Energy Partners Stock Up 4.6 %

Shares of NYSE NEP traded up $1.25 during midday trading on Tuesday, hitting $28.71. 2,975,047 shares of the company’s stock were exchanged, compared to its average volume of 1,383,780. The company has a market cap of $2.68 billion, a PE ratio of 13.51 and a beta of 1.00. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $64.43. The firm’s fifty day simple moving average is $28.27 and its 200-day simple moving average is $27.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.17 by $0.58. The company had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The firm’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.17) earnings per share. Research analysts predict that NextEra Energy Partners, LP will post 0.9 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, February 14th. Shareholders of record on Tuesday, February 6th were given a dividend of $0.88 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.87. The ex-dividend date was Monday, February 5th. This represents a $3.52 annualized dividend and a yield of 12.26%. NextEra Energy Partners’s payout ratio is 165.26%.

NextEra Energy Partners Profile

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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.