Eaton Vance Management increased its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 29.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 735,586 shares of the solar energy provider’s stock after acquiring an additional 166,407 shares during the quarter. Eaton Vance Management owned about 0.97% of NextEra Energy Partners worth $49,321,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. Jeppson Wealth Management LLC acquired a new position in NextEra Energy Partners in the third quarter valued at $29,000. ADE LLC acquired a new position in NextEra Energy Partners in the fourth quarter valued at $31,000. Winslow Evans & Crocker Inc. acquired a new position in NextEra Energy Partners in the fourth quarter valued at $38,000. Optimum Investment Advisors acquired a new position in NextEra Energy Partners in the fourth quarter valued at $44,000. Finally, Associated Banc Corp acquired a new position in NextEra Energy Partners in the fourth quarter valued at $59,000. Hedge funds and other institutional investors own 81.00% of the company’s stock.
A number of research analysts have commented on the stock. Morgan Stanley dropped their price objective 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. Credit Suisse Group lifted their price objective 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. Zacks Investment Research downgraded shares of 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. Mizuho lifted their target price on shares of NextEra Energy Partners from $57.00 to $83.00 and gave the company a “buy” rating in a report on Monday, January 11th. Finally, Bank of America downgraded shares of NextEra Energy Partners from a “neutral” rating to an “underperform” rating and set a $81.00 target price on the stock. in a report on Friday, February 12th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and nine have given a buy rating to the company. NextEra Energy Partners has an average rating of “Buy” and a consensus target price of $72.92.
NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Monday, January 25th. The solar energy provider reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.30 by $0.55. The business had revenue of $212.00 million during the quarter, compared to analysts’ expectations of $352.54 million. During the same period last year, the company earned $0.50 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, equities research analysts expect that NextEra Energy Partners, LP will post -1.17 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 12th. Shareholders of record on Friday, February 5th were issued a $0.615 dividend. This represents a $2.46 annualized dividend and a dividend yield of 3.40%. The ex-dividend date of this dividend was Thursday, February 4th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.60. NextEra Energy Partners’s dividend payout ratio is -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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