Cohen & Steers Inc. lifted its stake in Nextera Energy Partners LP (NYSE:NEP) by 2.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 121,436 shares of the solar energy provider’s stock after buying an additional 2,341 shares during the period. Cohen & Steers Inc. owned about 0.22% of Nextera Energy Partners worth $5,859,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of the company. Elmwood Wealth Management Inc. raised its holdings in shares of Nextera Energy Partners by 2.3% in the 1st quarter. Elmwood Wealth Management Inc. now owns 12,185 shares of the solar energy provider’s stock worth $568,000 after buying an additional 275 shares in the last quarter. ETF Managers Group LLC raised its holdings in shares of Nextera Energy Partners by 10.4% in the 1st quarter. ETF Managers Group LLC now owns 3,652 shares of the solar energy provider’s stock worth $170,000 after buying an additional 344 shares in the last quarter. Global Retirement Partners LLC raised its holdings in shares of Nextera Energy Partners by 113.1% in the 1st quarter. Global Retirement Partners LLC now owns 767 shares of the solar energy provider’s stock worth $36,000 after buying an additional 407 shares in the last quarter. Advisor Group Inc. raised its holdings in shares of Nextera Energy Partners by 11.6% in the 2nd quarter. Advisor Group Inc. now owns 3,982 shares of the solar energy provider’s stock worth $193,000 after buying an additional 414 shares in the last quarter. Finally, Manchester Financial Inc. acquired a new position in shares of Nextera Energy Partners in the 2nd quarter worth approximately $27,000. 80.45% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on NEP. ValuEngine upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating in a research report on Thursday, August 1st. Zacks Investment Research upgraded Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 price target on the stock in a research report on Wednesday, June 26th. Finally, Barclays increased their price target on Nextera Energy Partners from $49.00 to $52.00 and gave the stock an “equal weight” rating in a research report on Tuesday, July 23rd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $49.25.
NYSE NEP traded up $0.33 during trading hours on Wednesday, reaching $52.51. 128,696 shares of the company’s stock were exchanged, compared to its average volume of 260,567. The stock has a market cap of $2.93 billion, a PE ratio of 18.04, a price-to-earnings-growth ratio of 14.17 and a beta of 0.91. Nextera Energy Partners LP has a one year low of $39.35 and a one year high of $52.50. The firm has a fifty day moving average of $49.99 and a 200-day moving average of $47.66. The company has a current ratio of 1.38, a quick ratio of 1.38 and a debt-to-equity ratio of 0.62.
Nextera Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported ($0.49) EPS for the quarter, missing the Zacks’ consensus estimate of $0.48 by ($0.97). The firm had revenue of $219.00 million during the quarter, compared to the consensus estimate of $292.21 million. Nextera Energy Partners had a negative net margin of 2.88% and a negative return on equity of 0.44%. As a group, research analysts forecast that Nextera Energy Partners LP will post 0.4 EPS for the current year.
Nextera Energy Partners Company Profile
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 with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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