Kayne Anderson Capital Advisors LP Boosts Stock Holdings in NextEra Energy Partners, LP (NYSE:NEP)

Kayne Anderson Capital Advisors LP lifted its stake in shares of NextEra Energy Partners, LP (NYSE:NEP - Free Report) by 18.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,663,736 shares of the solar energy provider's stock after acquiring an additional 261,523 shares during the period. NextEra Energy Partners accounts for about 1.6% of Kayne Anderson Capital Advisors LP's investment portfolio, making the stock its 19th largest position. Kayne Anderson Capital Advisors LP owned 1.78% of NextEra Energy Partners worth $50,594,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the stock. FMR LLC grew its stake in shares of NextEra Energy Partners by 18.9% during the 3rd quarter. FMR LLC now owns 4,865,533 shares of the solar energy provider's stock valued at $144,506,000 after buying an additional 774,665 shares during the period. ClearBridge Investments Ltd raised its holdings in shares of NextEra Energy Partners by 64.4% in the 3rd quarter. ClearBridge Investments Ltd now owns 3,583,336 shares of the solar energy provider's stock worth $106,425,000 after purchasing an additional 1,404,318 shares during the period. Electron Capital Partners LLC grew its holdings in shares of NextEra Energy Partners by 7.9% during the 3rd quarter. Electron Capital Partners LLC now owns 1,493,087 shares of the solar energy provider's stock worth $44,345,000 after purchasing an additional 108,799 shares during the period. Bank of New York Mellon Corp raised its holdings in NextEra Energy Partners by 31.0% in the third quarter. Bank of New York Mellon Corp now owns 1,044,197 shares of the solar energy provider's stock valued at $31,013,000 after buying an additional 246,908 shares during the period. Finally, HighTower Advisors LLC lifted its position in NextEra Energy Partners by 14.1% during the third quarter. HighTower Advisors LLC now owns 839,956 shares of the solar energy provider's stock valued at $24,911,000 after buying an additional 104,055 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Stock Performance

Shares of NEP traded up $2.23 during mid-day trading on Thursday, hitting $32.36. The stock had a trading volume of 2,129,061 shares, compared to its average volume of 1,416,873. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. The company has a market cap of $3.03 billion, a PE ratio of 10.61 and a beta of 1.01. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $63.89. The company's fifty day simple moving average is $28.78 and its two-hundred day simple moving average is $27.91.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same quarter in the previous year, the firm earned ($0.17) earnings per share. The firm's revenue for the quarter was up 4.9% compared to the same quarter last year. On average, equities analysts expect that NextEra Energy Partners, LP will post 1.54 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be issued a $0.8925 dividend. This is an increase from NextEra Energy Partners's previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. This represents a $3.57 annualized dividend and a dividend yield of 11.03%. NextEra Energy Partners's dividend payout ratio (DPR) is 117.05%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Evercore ISI began coverage on shares of NextEra Energy Partners in a research note on Tuesday, February 13th. They issued an "outperform" rating and a $43.00 target price on the stock. Barclays initiated coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They set an "equal weight" rating and a $32.00 target price on the stock. StockNews.com raised shares of NextEra Energy Partners to a "sell" rating in a research report on Tuesday, March 19th. Marathon Capitl restated an "equal weight" rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Finally, Raymond James dropped their price target on shares of NextEra Energy Partners from $50.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 3rd. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $41.60.

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.