Nextera Energy Partners LP (NEP) Holdings Boosted by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA raised its holdings in Nextera Energy Partners LP (NYSE:NEP) by 21.3% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 15,211 shares of the solar energy provider’s stock after acquiring an additional 2,669 shares during the quarter. BNP Paribas Arbitrage SA’s holdings in Nextera Energy Partners were worth $710,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of NEP. Summit Trail Advisors LLC lifted its stake in Nextera Energy Partners by 3,763.4% in the first quarter. Summit Trail Advisors LLC now owns 2,096,937 shares of the solar energy provider’s stock valued at $2,097,000 after buying an additional 2,042,660 shares during the period. Neuberger Berman Group LLC lifted its stake in Nextera Energy Partners by 6.6% in the first quarter. Neuberger Berman Group LLC now owns 8,428,746 shares of the solar energy provider’s stock valued at $337,066,000 after buying an additional 520,952 shares during the period. Neumeier Poma Investment Counsel LLC acquired a new position in Nextera Energy Partners in the first quarter valued at approximately $19,326,000. CHURCHILL MANAGEMENT Corp acquired a new position in Nextera Energy Partners in the second quarter valued at approximately $18,564,000. Finally, Kayne Anderson Capital Advisors LP lifted its stake in Nextera Energy Partners by 36.1% in the first quarter. Kayne Anderson Capital Advisors LP now owns 653,075 shares of the solar energy provider’s stock valued at $26,103,000 after buying an additional 173,081 shares during the period. 84.09% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NYSE:NEP opened at $47.18 on Tuesday. The company has a current ratio of 4.59, a quick ratio of 4.59 and a debt-to-equity ratio of 1.05. Nextera Energy Partners LP has a twelve month low of $36.42 and a twelve month high of $48.75. The company has a market cap of $2.56 billion, a PE ratio of 71.48, a PEG ratio of 1.89 and a beta of 1.20.

Nextera Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, July 25th. The solar energy provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.48 by $0.95. Nextera Energy Partners had a return on equity of 6.86% and a net margin of 8.88%. The company had revenue of $225.00 million for the quarter, compared to analyst estimates of $278.31 million. equities analysts predict that Nextera Energy Partners LP will post 2.77 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 14th. Stockholders of record on Monday, August 6th will be given a dividend of $0.4375 per share. This represents a $1.75 dividend on an annualized basis and a dividend yield of 3.71%. This is a positive change from Nextera Energy Partners’s previous quarterly dividend of $0.42. The ex-dividend date is Friday, August 3rd. Nextera Energy Partners’s dividend payout ratio is presently 265.15%.

Several brokerages have issued reports on NEP. Mizuho began coverage on Nextera Energy Partners in a research note on Monday. They issued a “buy” rating and a $54.50 price target on the stock. ValuEngine lowered Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Thursday, August 2nd. Zacks Investment Research lowered Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Wednesday, August 1st. TheStreet raised Nextera Energy Partners from a “c” rating to a “b-” rating in a research note on Wednesday, July 25th. Finally, Howard Weil reissued a “sector perform” rating on shares of Nextera Energy Partners in a research note on Tuesday, July 24th. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average price target of $45.25.

About Nextera Energy Partners

NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

Featured Story: Trading Strategy

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:NEP).

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.

Leave a Reply