Counterpoint Mutual Funds LLC Invests $305,000 in NextEra Energy Partners, LP (NYSE:NEP)

Counterpoint Mutual Funds LLC bought a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) in the 1st quarter, according to its most recent 13F filing with the SEC. The fund bought 10,150 shares of the solar energy provider’s stock, valued at approximately $305,000.

Other institutional investors and hedge funds have also modified their holdings of the company. &PARTNERS lifted its stake in NextEra Energy Partners by 393.7% in the 1st quarter. &PARTNERS now owns 12,220 shares of the solar energy provider’s stock valued at $368,000 after acquiring an additional 9,745 shares in the last quarter. Walnut Private Equity Partners LLC raised its stake in shares of NextEra Energy Partners by 13.0% during the 1st quarter. Walnut Private Equity Partners LLC now owns 130,000 shares of the solar energy provider’s stock worth $3,910,000 after purchasing an additional 15,000 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of NextEra Energy Partners by 46.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after purchasing an additional 532 shares in the last quarter. B. Riley Wealth Advisors Inc. raised its stake in shares of NextEra Energy Partners by 15.5% during the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,763 shares of the solar energy provider’s stock worth $266,000 after purchasing an additional 1,179 shares in the last quarter. Finally, Richardson Financial Services Inc. bought a new stake in shares of NextEra Energy Partners during the 4th quarter worth approximately $27,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on NEP. Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a research note on Wednesday, June 12th. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. Barclays cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. JPMorgan Chase & Co. restated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Finally, StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $38.79.

NextEra Energy Partners Stock Performance

NYSE NEP traded down $0.25 on Wednesday, reaching $28.16. The stock had a trading volume of 656,761 shares, compared to its average volume of 1,431,240. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.31. The firm has a fifty day moving average of $30.88 and a two-hundred day moving average of $29.51. NextEra Energy Partners, LP has a 1-year low of $20.17 and a 1-year high of $59.90. The company has a market cap of $2.63 billion, a P/E ratio of 9.27 and a beta of 1.07.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. The firm had revenue of $257.00 million for the quarter, compared to analyst estimates of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.17) EPS. On average, equities research analysts anticipate that NextEra Energy Partners, LP will post 1.89 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 15th. Stockholders of record on Tuesday, May 7th were issued a dividend of $0.8925 per share. This is a positive change from NextEra Energy Partners’s previous quarterly dividend of $0.88. This represents a $3.57 annualized dividend and a dividend yield of 12.68%. The ex-dividend date was Monday, May 6th. NextEra Energy Partners’s dividend payout ratio is 117.05%.

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.