abrdn plc Raises Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

abrdn plc boosted its stake in NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 55.1% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 785,174 shares of the solar energy provider's stock after buying an additional 278,940 shares during the quarter. abrdn plc owned approximately 0.84% of NextEra Energy Partners worth $23,877,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. MV Capital Management Inc. bought a new position in shares of NextEra Energy Partners during the 4th quarter worth approximately $30,000. Parkside Financial Bank & Trust raised its position in NextEra Energy Partners by 60.2% in the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider's stock worth $36,000 after acquiring an additional 454 shares during the period. ORG Partners LLC raised its stake 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 acquiring an additional 670 shares during the period. CI Investments Inc. increased its stake in shares of NextEra Energy Partners by 1,418.2% in the third quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider's stock worth $55,000 after purchasing an additional 1,716 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. raised its position in shares of NextEra Energy Partners by 70.9% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,030 shares of the solar energy provider's stock valued at $62,000 after purchasing an additional 842 shares during the period. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

NYSE:NEP traded up $0.85 during trading hours on Wednesday, hitting $29.62. The stock had a trading volume of 1,788,537 shares, compared to its average volume of 1,388,898. The company has a 50 day simple moving average of $28.29 and a two-hundred day simple moving average of $27.35. 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, LP has a one year low of $20.17 and a one year high of $63.89. The firm has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.91 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its quarterly earnings data on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.63. The firm had revenue of $257.00 million for the quarter, compared to analysts' expectations of $331.78 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The business's quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter last year, the company posted ($0.17) EPS. Research analysts forecast that NextEra Energy Partners, LP will post 0.83 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be given a dividend of $0.8925 per share. The ex-dividend date is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 12.05%. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.88. NextEra Energy Partners's dividend payout ratio (DPR) is 165.26%.

Wall Street Analyst Weigh In

NEP has been the subject of several analyst reports. CIBC downgraded shares of NextEra Energy Partners from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective for the company. in a report on Tuesday, January 9th. StockNews.com raised shares of NextEra Energy Partners to a "sell" rating in a report on Tuesday, March 19th. Oppenheimer reaffirmed a "market perform" rating on shares of NextEra Energy Partners in a report on Wednesday. JPMorgan Chase & Co. raised their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a "neutral" rating in a report on Friday, January 26th. Finally, Barclays initiated coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They issued an "equal weight" rating and a $32.00 price objective for the company. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus target price of $43.88.

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.