Raymond James & Associates Sells 142,115 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Raymond James & Associates cut its holdings in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 21.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 534,380 shares of the solar energy provider's stock after selling 142,115 shares during the quarter. Raymond James & Associates owned about 0.57% of NextEra Energy Partners worth $16,250,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Avity Investment Management Inc. acquired a new stake in NextEra Energy Partners during the 4th quarter worth about $425,000. Chesley Taft & Associates LLC bought a new stake in NextEra Energy Partners during the fourth quarter worth approximately $390,000. Ervin Investment Management LLC boosted its position in NextEra Energy Partners by 13.2% during the fourth quarter. Ervin Investment Management LLC now owns 24,707 shares of the solar energy provider's stock worth $751,000 after purchasing an additional 2,885 shares during the period. Gilman Hill Asset Management LLC boosted its position in NextEra Energy Partners by 5.4% during the fourth quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider's stock worth $342,000 after purchasing an additional 575 shares during the period. Finally, Bartlett & CO. Wealth Management LLC boosted its position in NextEra Energy Partners by 5.3% during the fourth quarter. Bartlett & CO. Wealth Management LLC now owns 13,207 shares of the solar energy provider's stock worth $406,000 after purchasing an additional 667 shares during the period. 66.01% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on NEP shares. Guggenheim reduced their price objective on NextEra Energy Partners from $42.00 to $37.00 and set a "buy" rating for the company in a research report on Wednesday, December 6th. JPMorgan Chase & Co. increased their price objective on NextEra Energy Partners from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, January 26th. StockNews.com upgraded NextEra Energy Partners to a "sell" rating in a research note on Tuesday, March 19th. Raymond James dropped their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an "outperform" rating for the company in a research note on Wednesday. Finally, Evercore ISI started coverage on NextEra Energy Partners in a research note on Tuesday, February 13th. They set an "outperform" rating and a $43.00 price objective for the company. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, NextEra Energy Partners has a consensus rating of "Hold" and an average target price of $46.38.

NextEra Energy Partners Trading Down 0.7 %

NYSE NEP traded down $0.19 during trading hours on Wednesday, hitting $29.00. 883,760 shares of the company's stock were exchanged, compared to its average volume of 1,384,415. The stock has a 50-day simple moving average of $28.54 and a 200 day simple moving average of $28.25. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $64.43. The firm has a market cap of $2.71 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.13 and a beta of 1.00. The company has a current ratio of 1.33, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.38). NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The firm had revenue of $232.00 million during the quarter, compared to analyst estimates of $360.03 million. On average, equities analysts forecast that NextEra Energy Partners, LP will post 0.94 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, February 14th. Stockholders of record on Tuesday, February 6th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 12.14%. The ex-dividend date of this dividend was Monday, February 5th. This is a positive change from NextEra Energy Partners's previous quarterly dividend of $0.87. NextEra Energy Partners's dividend payout ratio (DPR) is currently 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.