Neuberger Berman Group LLC Has $318.02 Million Position in NextEra Energy Partners, LP (NEP)
Neuberger Berman Group LLC lessened its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 0.1% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,893,321 shares of the solar energy provider’s stock after selling 9,902 shares during the quarter. Neuberger Berman Group LLC owned 14.55% of NextEra Energy Partners worth $318,022,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of NEP. Beach Investment Management LLC. lifted its position in shares of NextEra Energy Partners by 1,005.7% during the 2nd quarter. Beach Investment Management LLC. now owns 1,329,958 shares of the solar energy provider’s stock worth $49,195,000 after buying an additional 1,209,675 shares during the period. Janus Henderson Group PLC bought a new position in shares of NextEra Energy Partners during the 2nd quarter worth approximately $17,150,000. BlackRock Inc. lifted its position in shares of NextEra Energy Partners by 9.9% during the 2nd quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock worth $120,672,000 after buying an additional 293,830 shares during the period. Eaton Vance Management lifted its position in shares of NextEra Energy Partners by 51.3% during the 2nd quarter. Eaton Vance Management now owns 642,071 shares of the solar energy provider’s stock worth $23,750,000 after buying an additional 217,787 shares during the period. Finally, Teilinger USA Inc. bought a new position in shares of NextEra Energy Partners during the 3rd quarter worth approximately $7,591,000. Institutional investors and hedge funds own 83.49% of the company’s stock.
Several equities analysts recently commented on NEP shares. TheStreet downgraded NextEra Energy Partners from a “b” rating to a “c+” rating in a research report on Thursday, October 26th. Royal Bank of Canada reaffirmed a “hold” rating and set a $39.00 price target on shares of NextEra Energy Partners in a report on Tuesday, October 10th. J P Morgan Chase & Co dropped their price target on NextEra Energy Partners from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Credit Suisse Group initiated coverage on NextEra Energy Partners in a report on Thursday, December 7th. They set an “outperform” rating and a $44.00 price target for the company. Finally, Barclays reaffirmed an “overweight” rating and set a $44.00 price target (up from $39.00) on shares of NextEra Energy Partners in a report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and nine have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $39.45.
NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Thursday, October 26th. The solar energy provider reported $0.01 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.36). The business had revenue of $177.00 million for the quarter, compared to analyst estimates of $243.16 million. NextEra Energy Partners had a net margin of 10.38% and a return on equity of 3.57%. equities research analysts forecast that NextEra Energy Partners, LP will post 0.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, November 14th. Stockholders of record on Monday, November 6th were paid a $0.3925 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.38. This represents a $1.57 annualized dividend and a dividend yield of 3.98%. The ex-dividend date was Friday, November 3rd. NextEra Energy Partners’s dividend payout ratio (DPR) is 113.77%.
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NextEra Energy Partners Profile
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 contracted natural gas pipeline assets.
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