NextEra Energy Partners, LP (NYSE:NEP) is A. D. Beadell Investment Counsel Inc.’s Largest Position

A. D. Beadell Investment Counsel Inc. decreased its position in NextEra Energy Partners, LP (NYSE:NEPGet Rating) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 108,872 shares of the solar energy provider’s stock after selling 3,115 shares during the period. NextEra Energy Partners accounts for approximately 6.7% of A. D. Beadell Investment Counsel Inc.’s investment portfolio, making the stock its largest position. A. D. Beadell Investment Counsel Inc.’s holdings in NextEra Energy Partners were worth $8,073,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in NEP. Benjamin F. Edwards & Company Inc. boosted its position in shares of NextEra Energy Partners by 2.9% during the 1st quarter. Benjamin F. Edwards & Company Inc. now owns 5,736 shares of the solar energy provider’s stock worth $478,000 after purchasing an additional 162 shares during the period. Dearborn Partners LLC boosted its position in NextEra Energy Partners by 0.9% in the 1st quarter. Dearborn Partners LLC now owns 20,332 shares of the solar energy provider’s stock valued at $1,695,000 after buying an additional 188 shares during the period. Beacon Pointe Advisors LLC boosted its position in NextEra Energy Partners by 2.9% in the 1st quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock valued at $594,000 after buying an additional 200 shares during the period. Sigma Planning Corp raised its holdings in shares of NextEra Energy Partners by 4.5% in the 1st quarter. Sigma Planning Corp now owns 4,758 shares of the solar energy provider’s stock valued at $397,000 after purchasing an additional 204 shares in the last quarter. Finally, Lazard Asset Management LLC raised its holdings in shares of NextEra Energy Partners by 69.6% in the 1st quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after purchasing an additional 224 shares in the last quarter. Hedge funds and other institutional investors own 83.22% of the company’s stock.

NextEra Energy Partners Stock Down 3.2 %

Shares of NYSE NEP traded down $2.59 during mid-day trading on Friday, reaching $77.25. The company had a trading volume of 2,791 shares, compared to its average volume of 379,022. The stock has a fifty day moving average of $81.66 and a two-hundred day moving average of $76.68. The company has a debt-to-equity ratio of 0.40, a quick ratio of 1.30 and a current ratio of 1.34. The company has a market capitalization of $6.48 billion, a price-to-earnings ratio of 17.94, a PEG ratio of 1.80 and a beta of 0.86. NextEra Energy Partners, LP has a 12-month low of $61.31 and a 12-month high of $88.80.

NextEra Energy Partners (NYSE:NEPGet Rating) last released its quarterly earnings results on Friday, July 22nd. The solar energy provider reported $2.61 EPS for the quarter, beating analysts’ consensus estimates of $0.30 by $2.31. NextEra Energy Partners had a net margin of 39.66% and a return on equity of 4.21%. The company had revenue of $362.00 million for the quarter, compared to analyst estimates of $345.09 million. During the same quarter last year, the firm posted ($0.97) earnings per share. The company’s quarterly revenue was up 43.1% compared to the same quarter last year. As a group, equities research analysts expect that NextEra Energy Partners, LP will post 4.52 EPS for the current year.

NextEra Energy Partners Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, August 12th. Shareholders of record on Thursday, August 4th were issued a dividend of $0.7625 per share. The ex-dividend date was Wednesday, August 3rd. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.73. This represents a $3.05 dividend on an annualized basis and a dividend yield of 3.95%. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 68.54%.

Analyst Ratings Changes

Several brokerages recently commented on NEP. The Goldman Sachs Group cut their price target on shares of NextEra Energy Partners from $102.00 to $88.00 and set a “buy” rating on the stock in a research note on Thursday. UBS Group set a $90.00 price objective on shares of NextEra Energy Partners in a report on Monday, June 20th. TheStreet upgraded shares of NextEra Energy Partners from a “c” rating to a “b-” rating in a research report on Thursday, June 30th. KeyCorp boosted their price objective on shares of NextEra Energy Partners from $86.00 to $89.00 and gave the company an “overweight” rating in a research report on Thursday, August 11th. Finally, Royal Bank of Canada raised shares of NextEra Energy Partners from a “sector perform” rating to an “outperform” rating and upped their price target for the stock from $86.00 to $89.00 in a research report on Friday, June 17th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and five have issued a buy rating to the company. According to MarketBeat, NextEra Energy Partners has an average rating of “Hold” and an average price target of $86.00.

NextEra Energy Partners Profile

(Get Rating)

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, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

Recommended Stories

Want to see what other hedge funds are holding NEP? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for NextEra Energy Partners, LP (NYSE:NEPGet Rating).

Institutional Ownership by Quarter for NextEra Energy Partners (NYSE:NEP)

Receive News & Ratings for NextEra Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for NextEra Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.