Otter Creek Advisors LLC Sells 96,788 Shares of NextEra Energy Partners, LP (NYSE:NEP)

Otter Creek Advisors LLC reduced its position in NextEra Energy Partners, LP (NYSE:NEP) by 91.4% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 9,135 shares of the solar energy provider’s stock after selling 96,788 shares during the quarter. Otter Creek Advisors LLC’s holdings in NextEra Energy Partners were worth $252,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. increased its holdings in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the period. EverSource Wealth Advisors LLC bought a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $51,000. Eastern Bank bought a new stake in shares of NextEra Energy Partners during the 3rd quarter valued at approximately $57,000. Central Bank & Trust Co. bought a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $99,000. Finally, International Assets Investment Management LLC bought a new stake in shares of NextEra Energy Partners during the 2nd quarter valued at approximately $104,000. 66.01% of the stock is owned by institutional investors.

NextEra Energy Partners Stock Up 1.8 %

Shares of NYSE NEP opened at $16.37 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. NextEra Energy Partners, LP has a 52-week low of $15.55 and a 52-week high of $35.15. The company’s 50 day moving average price is $22.90 and its 200-day moving average price is $26.34. The company has a market capitalization of $1.53 billion, a P/E ratio of 7.51 and a beta of 1.10.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The company had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the previous year, the firm earned $0.57 EPS. The firm’s revenue was up 3.6% on a year-over-year basis. Equities analysts forecast that NextEra Energy Partners, LP will post 1.36 earnings per share for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, November 14th. Investors of record on Wednesday, November 6th were given a dividend of $0.9175 per share. This represents a $3.67 dividend on an annualized basis and a dividend yield of 22.41%. The ex-dividend date of this dividend was Wednesday, November 6th. This is an increase from NextEra Energy Partners’s previous quarterly dividend of $0.91. NextEra Energy Partners’s payout ratio is presently 168.35%.

Analyst Ratings Changes

Several brokerages recently issued reports on NEP. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. Mizuho decreased their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Guggenheim lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $37.00 to $22.00 in a report on Monday, October 28th. Finally, BMO Capital Markets reduced their target price on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a report on Monday, October 21st. Four investment analysts have rated the stock with a sell rating, ten have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $26.69.

About NextEra Energy Partners

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.