JPMorgan Chase & Co. raised its position in shares of NextEra Energy Partners, LP (NYSE:NEP) by 34.5% during the first quarter, Holdings Channel reports. The institutional investor owned 112,691 shares of the solar energy provider’s stock after buying an additional 28,922 shares during the period. JPMorgan Chase & Co.’s holdings in NextEra Energy Partners, were worth $3,734,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new position in shares of NextEra Energy Partners, during the first quarter worth about $139,000. Osborn Williams & Donohoe LLC purchased a new stake in NextEra Energy Partners, during the first quarter valued at $248,000. Adell Harriman & Carpenter Inc. purchased a new stake in NextEra Energy Partners, during the first quarter valued at $326,000. Two Sigma Investments LP boosted its stake in NextEra Energy Partners, by 4.0% in the fourth quarter. Two Sigma Investments LP now owns 13,785 shares of the solar energy provider’s stock valued at $352,000 after buying an additional 528 shares during the last quarter. Finally, Parametric Portfolio Associates LLC purchased a new stake in NextEra Energy Partners, during the first quarter valued at $545,000. Institutional investors own 85.50% of the company’s stock.
Shares of NextEra Energy Partners, LP (NYSE:NEP) opened at 37.27 on Monday. NextEra Energy Partners, LP has a 52 week low of $23.90 and a 52 week high of $39.83. The firm’s 50-day moving average is $35.15 and its 200-day moving average is $31.62. The stock has a market capitalization of $2.02 billion, a price-to-earnings ratio of 20.40 and a beta of 1.23.
NextEra Energy Partners, (NYSE:NEP) last posted its quarterly earnings data on Friday, April 21st. The solar energy provider reported $0.22 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by $0.18. NextEra Energy Partners, had a return on equity of 4.69% and a net margin of 13.70%. The company had revenue of $175 million for the quarter, compared to analyst estimates of $232.06 million. During the same quarter in the previous year, the firm posted $0.14 earnings per share. Analysts forecast that NextEra Energy Partners, LP will post $1.42 earnings per share for the current fiscal year.
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Several analysts have weighed in on NEP shares. Deutsche Bank AG lifted their price objective on NextEra Energy Partners, from $33.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, April 11th. Goldman Sachs Group, Inc. (The) cut NextEra Energy Partners, from a “buy” rating to a “neutral” rating and set a $34.00 price objective on the stock. in a research report on Wednesday, March 29th. Vetr raised NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $37.00 price objective on the stock in a research report on Monday, May 15th. Macquarie cut NextEra Energy Partners, from an “outperform” rating to a “neutral” rating in a research report on Thursday, March 23rd. Finally, Barclays PLC reaffirmed an “overweight” rating and set a $39.00 price objective (up from $34.00) on shares of NextEra Energy Partners, in a research report on Sunday, April 23rd. Three analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $37.94.
In related news, EVP Mark E. Hickson acquired 1,350 shares of the stock in a transaction dated Wednesday, July 5th. The stock was acquired at an average cost of $37.51 per share, for a total transaction of $50,638.50. Following the completion of the purchase, the executive vice president now owns 4,780 shares of the company’s stock, valued at approximately $179,297.80. The purchase was disclosed in a document filed with the SEC, which is available through this link. Insiders own 0.47% of the company’s stock.
About NextEra Energy Partners,
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.
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