Magnolia Capital Advisors LLC Takes $240,000 Position in NextEra Energy Partners, LP (NYSE:NEP)

Magnolia Capital Advisors LLC acquired a new stake in NextEra Energy Partners, LP (NYSE:NEP) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,982 shares of the solar energy provider’s stock, valued at approximately $240,000.

Several other institutional investors have also modified their holdings of the stock. Parkside Financial Bank & Trust raised its position in NextEra Energy Partners by 60.2% during the 3rd quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock valued at $36,000 after purchasing an additional 454 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its position in NextEra Energy Partners by 4.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock valued at $320,000 after purchasing an additional 496 shares in the last quarter. CWM LLC raised its position in NextEra Energy Partners by 160.2% during the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after purchasing an additional 511 shares in the last quarter. Gilman Hill Asset Management LLC raised its position in NextEra Energy Partners by 5.4% during the 4th quarter. Gilman Hill Asset Management LLC now owns 11,250 shares of the solar energy provider’s stock valued at $342,000 after purchasing an additional 575 shares in the last quarter. Finally, Abundance Wealth Counselors raised its position in NextEra Energy Partners by 1.6% during the 3rd quarter. Abundance Wealth Counselors now owns 37,659 shares of the solar energy provider’s stock valued at $1,118,000 after purchasing an additional 595 shares in the last quarter. 66.01% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Tuesday, March 19th. Oppenheimer reiterated a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday. Barclays initiated coverage on NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. lifted their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, Raymond James cut their price target on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $43.88.

NextEra Energy Partners Stock Performance

NextEra Energy Partners stock traded up $0.85 during trading hours on Wednesday, hitting $29.62. 1,788,537 shares of the stock traded hands, compared to its average volume of 1,388,898. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. The firm’s 50 day moving average price is $28.29 and its 200-day moving average price is $27.35. The stock has a market capitalization of $2.77 billion, a price-to-earnings ratio of 13.91 and a beta of 1.00. NextEra Energy Partners, LP has a 1 year low of $20.17 and a 1 year high of $63.89.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.12 by $0.63. The business had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.17) EPS. As a group, equities analysts expect that NextEra Energy Partners, LP will post 0.83 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th will be issued a $0.8925 dividend. This represents a $3.57 annualized dividend and a dividend yield of 12.05%. The ex-dividend date of this dividend is Monday, May 6th. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. NextEra Energy Partners’s payout ratio is 165.26%.

NextEra Energy Partners 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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.