NextEra Energy Partners, LP (NYSE:NEP) Shares Sold by A. D. Beadell Investment Counsel Inc.

A. D. Beadell Investment Counsel Inc. trimmed its position in NextEra Energy Partners, LP (NYSE:NEP) by 3.4% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 92,352 shares of the solar energy provider’s stock after selling 3,284 shares during the quarter. NextEra Energy Partners comprises about 1.3% of A. D. Beadell Investment Counsel Inc.’s portfolio, making the stock its 28th biggest holding. A. D. Beadell Investment Counsel Inc.’s holdings in NextEra Energy Partners were worth $1,643,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. boosted its stake in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares during the last quarter. EverSource Wealth Advisors LLC purchased a new position in NextEra Energy Partners in the 2nd quarter valued at $51,000. Eastern Bank acquired a new stake in NextEra Energy Partners during the 3rd quarter worth $57,000. McIlrath & Eck LLC purchased a new stake in shares of NextEra Energy Partners during the third quarter worth $63,000. Finally, Central Pacific Bank Trust Division raised its position in shares of NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after buying an additional 3,750 shares during the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on NEP shares. BMO Capital Markets lowered their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research report on Monday, October 21st. Barclays restated an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. CIBC cut their price target on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday. UBS Group lowered their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. Finally, Morgan Stanley raised NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Monday, December 2nd. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.21.

NextEra Energy Partners Trading Down 2.5 %

NEP stock traded down $0.46 during mid-day trading on Friday, hitting $17.80. 353,897 shares of the company were exchanged, compared to its average volume of 1,017,930. The business has a fifty day simple moving average of $17.76 and a 200-day simple moving average of $22.87. The firm has a market capitalization of $1.66 billion, a P/E ratio of 8.17 and a beta of 1.06. NextEra Energy Partners, LP has a 12-month low of $15.55 and a 12-month high of $35.15. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The company had revenue of $319.00 million for the quarter, compared to analysts’ expectations of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.57 EPS. On average, equities research analysts predict that NextEra Energy Partners, LP will post 1.96 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were paid a dividend of $0.9175 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.91. The ex-dividend date was Wednesday, November 6th. This represents a $3.67 annualized dividend and a yield of 20.62%. NextEra Energy Partners’s dividend payout ratio is presently 168.35%.

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, 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.