Magnolia Capital Advisors LLC Acquires Shares of 7,982 NextEra Energy Partners, LP (NYSE:NEP)

Magnolia Capital Advisors LLC acquired a new stake in NextEra Energy Partners, LP (NYSE:NEP) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,982 shares of the solar energy provider’s stock, valued at approximately $240,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC boosted its position in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares during the last quarter. MV Capital Management Inc. bought a new position in shares of NextEra Energy Partners during the fourth quarter worth about $30,000. ORG Partners LLC lifted its position in shares of NextEra Energy Partners by 120.3% during the third quarter. ORG Partners LLC now owns 1,227 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 670 shares during the last quarter. Parkside Financial Bank & Trust lifted its position in shares of NextEra Energy Partners by 60.2% during the third quarter. Parkside Financial Bank & Trust now owns 1,208 shares of the solar energy provider’s stock worth $36,000 after purchasing an additional 454 shares during the last quarter. Finally, CI Investments Inc. lifted its position in shares of NextEra Energy Partners by 1,418.2% during the third quarter. CI Investments Inc. now owns 1,837 shares of the solar energy provider’s stock worth $55,000 after purchasing an additional 1,716 shares during the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

NextEra Energy Partners Price Performance

Shares of NYSE NEP traded up $0.85 during mid-day trading on Wednesday, reaching $29.62. 1,788,537 shares of the company traded hands, compared to its average volume of 1,388,898. NextEra Energy Partners, LP has a fifty-two week low of $20.17 and a fifty-two week high of $63.89. 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 has a market cap of $2.77 billion, a PE ratio of 13.91 and a beta of 1.00. The stock has a fifty day simple moving average of $28.29 and a 200-day simple moving average of $27.35.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.63. The firm had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted ($0.17) earnings per share. Equities research analysts anticipate that NextEra Energy Partners, LP will post 0.83 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 15th. Investors of record on Tuesday, May 7th will be issued a dividend of $0.8925 per share. This represents a $3.57 dividend on an annualized basis and a yield of 12.05%. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.88. The ex-dividend date is Monday, May 6th. NextEra Energy Partners’s dividend payout ratio (DPR) is presently 165.26%.

Analyst Ratings Changes

NEP has been the topic of several research analyst reports. Evercore ISI initiated coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target on the stock. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target on the stock. in a research report on Tuesday, January 9th. Oppenheimer reissued a “market perform” rating on shares of NextEra Energy Partners in a report on Wednesday. JPMorgan Chase & Co. raised their target price on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a report on Friday, January 26th. Finally, Raymond James cut their target price on shares of 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 investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, NextEra Energy Partners has an average rating of “Hold” and an average price target of $43.88.

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.