Securian Asset Management Inc Has $2.62 Million Position in Nextera Energy Partners LP (NYSE:NEP)

Securian Asset Management Inc reduced its position in shares of Nextera Energy Partners LP (NYSE:NEP) by 5.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 54,200 shares of the solar energy provider’s stock after selling 3,100 shares during the quarter. Securian Asset Management Inc owned 0.10% of Nextera Energy Partners worth $2,615,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Gabelli Funds LLC boosted its holdings in Nextera Energy Partners by 8.9% during the second quarter. Gabelli Funds LLC now owns 122,000 shares of the solar energy provider’s stock valued at $5,887,000 after acquiring an additional 10,000 shares during the period. Gamco Investors INC. ET AL bought a new stake in Nextera Energy Partners during the second quarter valued at about $596,000. Swiss National Bank boosted its holdings in Nextera Energy Partners by 2.4% during the second quarter. Swiss National Bank now owns 104,400 shares of the solar energy provider’s stock valued at $5,037,000 after acquiring an additional 2,400 shares during the period. Envestnet Asset Management Inc. boosted its holdings in Nextera Energy Partners by 14.8% during the second quarter. Envestnet Asset Management Inc. now owns 19,031 shares of the solar energy provider’s stock valued at $918,000 after acquiring an additional 2,457 shares during the period. Finally, Candriam Luxembourg S.C.A. bought a new stake in Nextera Energy Partners during the second quarter valued at about $443,000. 79.48% of the stock is currently owned by institutional investors.

Shares of NYSE NEP traded down $0.01 during mid-day trading on Friday, hitting $49.90. The company had a trading volume of 100 shares, compared to its average volume of 254,881. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.38 and a quick ratio of 1.38. The business’s 50-day simple moving average is $49.40 and its 200-day simple moving average is $46.52. Nextera Energy Partners LP has a 12 month low of $39.35 and a 12 month high of $50.99. The firm has a market cap of $2.80 billion, a P/E ratio of 17.17, a PEG ratio of 13.61 and a beta of 0.93.

Nextera Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, July 24th. The solar energy provider reported ($0.49) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.97). Nextera Energy Partners had a negative net margin of 2.88% and a negative return on equity of 0.44%. The company had revenue of $219.00 million during the quarter, compared to the consensus estimate of $292.21 million. As a group, sell-side analysts predict that Nextera Energy Partners LP will post 0.4 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 14th. Investors of record on Tuesday, August 6th were paid a $0.502 dividend. This represents a $2.01 annualized dividend and a dividend yield of 4.02%. The ex-dividend date was Monday, August 5th. Nextera Energy Partners’s payout ratio is presently 69.07%.

NEP has been the subject of a number of recent analyst reports. Barclays upped their price target on shares of Nextera Energy Partners from $49.00 to $52.00 and gave the company an “equal weight” rating in a report on Tuesday, July 23rd. ValuEngine upgraded shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Zacks Investment Research upgraded shares of Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 target price for the company in a research note on Wednesday, June 26th. Three equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $50.50.

Nextera Energy Partners 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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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

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