State of New Jersey Common Pension Fund D Purchases 54,274 Shares of NextEra Energy Partners, LP (NYSE:NEP)

State of New Jersey Common Pension Fund D grew its position in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 99.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 108,899 shares of the solar energy provider's stock after acquiring an additional 54,274 shares during the quarter. State of New Jersey Common Pension Fund D owned about 0.12% of NextEra Energy Partners worth $3,312,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently modified their holdings of NEP. ClearBridge Investments Ltd raised its stake in shares of NextEra Energy Partners by 64.4% during the third quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider's stock valued at $106,425,000 after purchasing an additional 1,404,318 shares in the last quarter. FMR LLC raised its stake in shares of NextEra Energy Partners by 18.9% during the third quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider's stock valued at $144,506,000 after purchasing an additional 774,665 shares in the last quarter. Redwood Grove Capital LLC raised its stake in shares of NextEra Energy Partners by 231.3% during the third quarter. Redwood Grove Capital LLC now owns 541,592 shares of the solar energy provider's stock valued at $16,085,000 after purchasing an additional 378,095 shares in the last quarter. Advisors Capital Management LLC raised its stake in shares of NextEra Energy Partners by 278.3% during the third quarter. Advisors Capital Management LLC now owns 449,442 shares of the solar energy provider's stock valued at $13,348,000 after purchasing an additional 330,639 shares in the last quarter. Finally, EP Wealth Advisors LLC raised its stake in shares of NextEra Energy Partners by 1,557.8% during the third quarter. EP Wealth Advisors LLC now owns 319,287 shares of the solar energy provider's stock valued at $9,483,000 after purchasing an additional 300,027 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company's stock.

NextEra Energy Partners Trading Down 0.9 %

NYSE NEP traded down $0.26 on Friday, hitting $28.93. 1,357,982 shares of the company were exchanged, compared to its average volume of 1,258,241. The company's 50 day moving average price is $28.33 and its 200-day moving average price is $27.43. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.28. The firm has a market capitalization of $2.71 billion, a P/E ratio of 9.49 and a beta of 1.00. NextEra Energy Partners, LP has a twelve month low of $20.17 and a twelve month high of $63.89.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. During the same quarter in the previous year, the company earned ($0.17) EPS. The business's revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that NextEra Energy Partners, LP will post 1.33 earnings per share for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Shareholders of record on Tuesday, May 7th will be paid a dividend of $0.8925 per share. This represents a $3.57 annualized dividend and a yield of 12.34%. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from NextEra Energy Partners's previous quarterly dividend of $0.88. NextEra Energy Partners's payout ratio is 115.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on NEP. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. CIBC cut shares of NextEra Energy Partners from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research report on Tuesday, January 9th. Evercore ISI began coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They issued an "outperform" rating and a $43.00 price target on the stock. Barclays began coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They issued an "equal weight" rating and a $32.00 price target on the stock. Finally, Marathon Capitl reiterated an "equal weight" rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $43.88.

NextEra Energy Partners Company 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.