Cavalry Management Group LLC Invests $303,000 in NextEra Energy Partners, LP (NYSE:NEP)

Cavalry Management Group LLC purchased a new position in NextEra Energy Partners, LP (NYSE:NEPGet Rating) during the 4th quarter, HoldingsChannel reports. The fund purchased 3,586 shares of the solar energy provider’s stock, valued at approximately $303,000.

Other large investors have also bought and sold shares of the company. Cassady Schiller Wealth Management LLC purchased a new position in shares of NextEra Energy Partners in the fourth quarter worth about $25,000. Lazard Asset Management LLC purchased a new position in NextEra Energy Partners during the fourth quarter worth about $27,000. Amplius Wealth Advisors LLC purchased a new position in NextEra Energy Partners during the fourth quarter worth about $27,000. Harbor Investment Advisory LLC raised its stake in NextEra Energy Partners by 300.0% during the fourth quarter. Harbor Investment Advisory LLC now owns 400 shares of the solar energy provider’s stock worth $34,000 after purchasing an additional 300 shares during the period. Finally, PrairieView Partners LLC purchased a new position in NextEra Energy Partners during the fourth quarter worth about $37,000. 81.32% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NEP stock traded up $0.93 during trading on Tuesday, reaching $67.57. The company’s stock had a trading volume of 10,865 shares, compared to its average volume of 526,074. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.60 and a quick ratio of 1.55. The company has a market capitalization of $5.67 billion, a price-to-earnings ratio of 76.60, a P/E/G ratio of 2.62 and a beta of 0.93. The stock’s 50-day moving average price is $73.94 and its 200 day moving average price is $77.77. NextEra Energy Partners, LP has a 1-year low of $61.31 and a 1-year high of $88.80.

NextEra Energy Partners (NYSE:NEPGet Rating) last announced its quarterly earnings data on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. NextEra Energy Partners had a net margin of 15.13% and a return on equity of 1.58%. The firm had revenue of $281.00 million during the quarter, compared to analysts’ expectations of $305.98 million. During the same quarter in the previous year, the business posted $2.66 earnings per share. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. On average, sell-side analysts anticipate that NextEra Energy Partners, LP will post 2.48 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Thursday, May 12th. Shareholders of record on Thursday, May 5th were issued a dividend of $0.7325 per share. This represents a $2.93 annualized dividend and a yield of 4.34%. The ex-dividend date of this dividend was Wednesday, May 4th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.71. NextEra Energy Partners’s payout ratio is 336.78%.

A number of brokerages have commented on NEP. Morgan Stanley reduced their target price on shares of NextEra Energy Partners from $95.00 to $93.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 20th. KeyCorp reduced their target price on shares of NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. Wells Fargo & Company dropped their price target on shares of NextEra Energy Partners from $96.00 to $93.00 and set an “overweight” rating for the company in a research report on Wednesday, January 26th. TheStreet cut shares of NextEra Energy Partners from a “b-” rating to a “c+” rating in a research report on Tuesday, January 25th. Finally, StockNews.com upgraded shares of NextEra Energy Partners from a “sell” rating to a “hold” rating in a research report on Sunday, April 3rd. One analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy Partners has a consensus rating of “Hold” and a consensus target price of $89.14.

NextEra Energy Partners Company Profile (Get Rating)

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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

See Also

Want to see what other hedge funds are holding NEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy Partners, LP (NYSE:NEPGet Rating).

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

Receive News & Ratings for NextEra Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.