NextEra Energy Partners, LP (NEP) Position Cut by California Public Employees Retirement System

California Public Employees Retirement System cut its stake in shares of NextEra Energy Partners, LP (NYSE:NEP) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 192,400 shares of the solar energy provider’s stock after selling 6,900 shares during the period. California Public Employees Retirement System owned 0.35% of NextEra Energy Partners, worth $6,374,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in NEP. Neuberger Berman Group LLC increased its position in NextEra Energy Partners, by 34.4% in the first quarter. Neuberger Berman Group LLC now owns 8,015,035 shares of the solar energy provider’s stock valued at $265,538,000 after buying an additional 2,050,427 shares during the last quarter. FMR LLC boosted its stake in NextEra Energy Partners, by 3.6% in the fourth quarter. FMR LLC now owns 3,117,345 shares of the solar energy provider’s stock valued at $79,617,000 after buying an additional 107,484 shares during the period. Bank of New York Mellon Corp boosted its stake in NextEra Energy Partners, by 18.4% in the first quarter. Bank of New York Mellon Corp now owns 2,029,099 shares of the solar energy provider’s stock valued at $67,225,000 after buying an additional 315,649 shares during the period. Reaves W H & Co. Inc. boosted its position in shares of NextEra Energy Partners, by 45.7% in the first quarter. Reaves W H & Co. Inc. now owns 1,422,173 shares of the solar energy provider’s stock worth $47,116,000 after buying an additional 446,398 shares during the last quarter. Finally, Beach Investment Counsel Inc. PA boosted its position in shares of NextEra Energy Partners, by 17.8% in the first quarter. Beach Investment Counsel Inc. PA now owns 1,329,958 shares of the solar energy provider’s stock worth $44,062,000 after buying an additional 201,172 shares during the last quarter. 85.55% of the stock is owned by hedge funds and other institutional investors.

Shares of NextEra Energy Partners, LP (NYSE NEP) traded up 1.14% during mid-day trading on Friday, reaching $40.01. 265,767 shares of the company’s stock traded hands. The firm has a market cap of $2.17 billion, a price-to-earnings ratio of 22.03 and a beta of 1.23. The company’s 50 day moving average is $37.43 and its 200-day moving average is $33.42. NextEra Energy Partners, LP has a 52 week low of $23.90 and a 52 week high of $40.49.

NextEra Energy Partners, (NYSE:NEP) last posted its quarterly earnings data on Wednesday, July 26th. The solar energy provider reported $0.24 EPS for the quarter, missing the Zacks’ consensus estimate of $0.43 by $0.19. NextEra Energy Partners, had a net margin of 13.77% and a return on equity of 4.74%. The firm had revenue of $204 million during the quarter, compared to the consensus estimate of $232.03 million. Equities analysts expect that NextEra Energy Partners, LP will post $1.51 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Monday, August 14th. Investors of record on Monday, August 7th will be paid a dividend of $0.38 per share. The ex-dividend date is Thursday, August 3rd. This is a positive change from NextEra Energy Partners,’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a yield of 3.80%. NextEra Energy Partners,’s dividend payout ratio is currently 73.37%.

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Several research analysts have commented on the company. BMO Capital Markets raised their price objective on NextEra Energy Partners, from $35.00 to $45.00 and gave the company an “outperform” rating in a research report on Friday. TheStreet raised NextEra Energy Partners, from a “c-” rating to a “b” rating in a research report on Wednesday. Deutsche Bank AG reissued a “buy” rating and issued a $42.00 price objective (up from $39.00) on shares of NextEra Energy Partners, in a report on Thursday. Royal Bank Of Canada restated a “hold” rating and issued a $38.00 target price (up from $34.00) on shares of NextEra Energy Partners, in a research note on Friday, July 7th. Finally, BidaskClub downgraded NextEra Energy Partners, from a “strong-buy” rating to a “buy” rating in a research note on Saturday, July 1st. Four analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. NextEra Energy Partners, currently has a consensus rating of “Buy” and an average target price of $38.57.

In other news, insider Armando Pimentel, Jr. bought 5,000 shares of the stock in a transaction dated Friday, July 14th. The stock was bought at an average price of $38.23 per share, for a total transaction of $191,150.00. Following the completion of the acquisition, the insider now directly owns 20,000 shares in the company, valued at approximately $764,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark E. Hickson bought 1,350 shares of the stock in a transaction dated Wednesday, July 5th. The stock was purchased at an average price of $37.51 per share, with a total value of $50,638.50. Following the acquisition, the executive vice president now owns 4,780 shares of the company’s stock, valued at $179,297.80. The disclosure for this purchase can be found here. 0.46% of the stock is owned by corporate insiders.

NextEra Energy Partners, Company Profile

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

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

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