Clear Harbor Asset Management LLC Takes Position in NextEra Energy Partners, LP (NYSE:NEP)

Clear Harbor Asset Management LLC acquired a new position in NextEra Energy Partners, LP (NYSE:NEP) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 84,762 shares of the solar energy provider’s stock, valued at approximately $1,509,000. Clear Harbor Asset Management LLC owned 0.09% of NextEra Energy Partners as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Thrivent Financial for Lutherans bought a new stake in shares of NextEra Energy Partners during the third quarter worth approximately $16,186,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners during the 3rd quarter worth $15,310,000. M&G PLC raised its position in shares of NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after acquiring an additional 496,383 shares during the last quarter. Fred Alger Management LLC acquired a new position in shares of NextEra Energy Partners in the 2nd quarter valued at $5,452,000. Finally, Redwood Grove Capital LLC lifted its stake in shares of NextEra Energy Partners by 19.7% in the 3rd quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock valued at $27,129,000 after purchasing an additional 161,436 shares during the period. 66.01% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. BMO Capital Markets reissued a “market perform” rating and issued a $18.00 target price (down previously from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a report on Monday, December 2nd. UBS Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a report on Monday, September 30th. Barclays reaffirmed an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th. Finally, Guggenheim cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and decreased their target price for the company from $37.00 to $22.00 in a research note on Monday, October 28th. Three equities research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus target price of $24.64.

NextEra Energy Partners Stock Performance

Shares of NYSE NEP opened at $17.09 on Tuesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The stock has a 50 day moving average price of $17.53 and a 200 day moving average price of $22.32. The stock has a market capitalization of $1.60 billion, a PE ratio of 7.84 and a beta of 1.06. NextEra Energy Partners, LP has a 52 week low of $15.55 and a 52 week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. NextEra Energy Partners’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 earnings per share. Analysts predict that NextEra Energy Partners, LP will post 2.06 earnings per share for the current fiscal 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, 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.