Beach Investment Counsel Inc. PA increased its stake in shares of NextEra Energy Partners LP (NYSE:NEP) by 15.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,174,851 shares of the company’s stock after buying an additional 155,868 shares during the period. NextEra Energy Partners makes up about 4.2% of Beach Investment Counsel Inc. PA’s portfolio, making the stock its 5th largest position. Beach Investment Counsel Inc. PA owned approximately 2.78% of NextEra Energy Partners worth $35,692,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Cohen & Steers Inc. increased its stake in NextEra Energy Partners by 918.3% in the second quarter. Cohen & Steers Inc. now owns 6,704,944 shares of the company’s stock valued at $76,436,000 after buying an additional 6,046,476 shares during the last quarter. Energy Income Partners LLC increased its stake in NextEra Energy Partners by 27.0% in the first quarter. Energy Income Partners LLC now owns 3,584,687 shares of the company’s stock valued at $97,467,000 after buying an additional 761,203 shares during the last quarter. Neuberger Berman Group LLC increased its stake in NextEra Energy Partners by 57.5% in the second quarter. Neuberger Berman Group LLC now owns 3,391,016 shares of the company’s stock valued at $103,019,000 after buying an additional 1,237,448 shares during the last quarter. FMR LLC increased its stake in NextEra Energy Partners by 1.9% in the second quarter. FMR LLC now owns 2,985,965 shares of the company’s stock valued at $90,714,000 after buying an additional 56,015 shares during the last quarter. Finally, Jennison Associates LLC increased its stake in NextEra Energy Partners by 2.9% in the second quarter. Jennison Associates LLC now owns 2,483,756 shares of the company’s stock valued at $75,457,000 after buying an additional 69,116 shares during the last quarter. 71.52% of the stock is owned by institutional investors.

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

Shares of NextEra Energy Partners LP (NYSE:NEP) opened at 24.55 on Monday. The stock’s 50 day moving average price is $27.31 and its 200-day moving average price is $29.02. NextEra Energy Partners LP has a 12-month low of $22.25 and a 12-month high of $32.42. The firm has a market cap of $1.33 billion, a P/E ratio of 21.00 and a beta of 1.33.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Monday, October 31st. The company reported $0.62 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.33 by $0.29. NextEra Energy Partners had a return on equity of 2.47% and a net margin of 6.79%. The business earned $188 million during the quarter, compared to the consensus estimate of $195.67 million. During the same quarter in the prior year, the company posted $0.05 earnings per share. On average, analysts predict that NextEra Energy Partners LP will post $1.03 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, November 14th. Investors of record on Tuesday, November 8th will be issued a dividend of $0.341 per share. The ex-dividend date is Friday, November 4th. This represents a $1.36 annualized dividend and a yield of 5.56%. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.33. NextEra Energy Partners’s dividend payout ratio is 108.73%.

NEP has been the subject of several recent analyst reports. Zacks Investment Research downgraded NextEra Energy Partners from a “hold” rating to a “sell” rating in a report on Wednesday, September 28th. Oppenheimer Holdings Inc. initiated coverage on NextEra Energy Partners in a report on Thursday, September 8th. They set an “outperform” rating and a $34.00 price target for the company. Avondale Partners raised NextEra Energy Partners from a “market perform” rating to an “outperform” rating and set a $33.00 price target for the company in a report on Tuesday, November 1st. Finally, Barclays PLC reaffirmed a “buy” rating and set a $34.00 price target on shares of NextEra Energy Partners in a report on Monday, September 12th. Six investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $31.40.

About NextEra Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as approximately seven contracted natural gas pipeline assets.

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