Hudson Bay Capital Management LP Makes New Investment in NextEra Energy Partners, LP (NYSE:NEP)


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Hudson Bay Capital Management LP acquired a new position in NextEra Energy Partners, LP (NYSE:NEP) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 28,200 shares of the solar energy provider’s stock, valued at approximately $1,891,000.

Several other hedge funds have also recently made changes to their positions in NEP. Eaton Vance Management lifted its stake in shares of NextEra Energy Partners by 29.2% during the 4th quarter. Eaton Vance Management now owns 735,586 shares of the solar energy provider’s stock valued at $49,321,000 after buying an additional 166,407 shares in the last quarter. UBS Asset Management Americas Inc. lifted its position in shares of NextEra Energy Partners by 5.9% in the fourth quarter. UBS Asset Management Americas Inc. now owns 59,792 shares of the solar energy provider’s stock valued at $4,009,000 after acquiring an additional 3,354 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its stake in shares of NextEra Energy Partners by 588.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 1,899 shares of the solar energy provider’s stock worth $127,000 after acquiring an additional 1,623 shares during the period. UBS Oconnor LLC purchased a new stake in shares of NextEra Energy Partners during the fourth quarter worth about $7,259,000. Finally, JPMorgan Chase & Co. grew its position in shares of NextEra Energy Partners by 392.5% during the fourth quarter. JPMorgan Chase & Co. now owns 83,063 shares of the solar energy provider’s stock worth $5,570,000 after purchasing an additional 66,197 shares in the last quarter. Hedge funds and other institutional investors own 81.00% of the company’s stock.

NEP has been the subject of several recent analyst reports. Mizuho upped their price target on NextEra Energy Partners from $57.00 to $83.00 and gave the stock a “buy” rating in a research note on Monday, January 11th. Credit Suisse Group raised their target price on shares of NextEra Energy Partners from $86.00 to $87.00 and gave the company an “outperform” rating in a research note on Wednesday, January 27th. Morgan Stanley decreased their price target on shares of NextEra Energy Partners from $79.00 to $63.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 16th. Raymond James raised their price objective on NextEra Energy Partners from $73.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. Finally, Zacks Investment Research cut NextEra Energy Partners from a “hold” rating to a “strong sell” rating and set a $60.00 target price on the stock. in a report on Tuesday, March 30th. Two analysts have rated the stock with a sell rating, two have given a hold rating and nine have assigned a buy rating to the stock. NextEra Energy Partners has an average rating of “Buy” and an average price target of $72.92.

Shares of NYSE NEP opened at $72.43 on Thursday. NextEra Energy Partners, LP has a 1-year low of $40.08 and a 1-year high of $88.29. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.32 and a quick ratio of 1.25. The business’s 50 day moving average is $72.84 and its two-hundred day moving average is $69.99. The stock has a market capitalization of $5.50 billion, a P/E ratio of -50.30, a PEG ratio of 1.54 and a beta of 0.83.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Monday, January 25th. The solar energy provider reported $0.85 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.30 by $0.55. The company had revenue of $212.00 million for the quarter, compared to the consensus estimate of $352.54 million. During the same period in the prior year, the firm posted $0.50 EPS. The business’s revenue for the quarter was up 2.9% compared to the same quarter last year. As a group, equities research analysts anticipate that NextEra Energy Partners, LP will post -1.17 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Friday, February 5th were paid a dividend of $0.615 per share. This represents a $2.46 annualized dividend and a yield of 3.40%. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.60. The ex-dividend date was Thursday, February 4th. NextEra Energy Partners’s payout ratio is presently -162.91%.

About NextEra Energy Partners

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

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