Graham Capital Wealth Management LLC Takes $3 Million Position in NextEra Energy Partners, LP (NYSE:NEP)

Graham Capital Wealth Management LLC bought a new position in shares of NextEra Energy Partners, LP (NYSE:NEP) during the fourth quarter, Holdings Channel reports. The fund bought 168,706 shares of the solar energy provider’s stock, valued at approximately $3,003,000. NextEra Energy Partners accounts for 2.7% of Graham Capital Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Brown Miller Wealth Management LLC raised its position in shares of NextEra Energy Partners by 2.4% during the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after purchasing an additional 433 shares during the period. Apollon Wealth Management LLC raised its position in shares of NextEra Energy Partners by 5.7% during the third quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock worth $340,000 after purchasing an additional 667 shares during the period. Northwestern Mutual Wealth Management Co. raised its position in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares during the period. Creative Planning raised its position in shares of NextEra Energy Partners by 15.2% during the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after purchasing an additional 1,490 shares during the period. Finally, Pathway Financial Advisers LLC raised its position in shares of NextEra Energy Partners by 3.6% during the third quarter. Pathway Financial Advisers LLC now owns 50,110 shares of the solar energy provider’s stock worth $1,384,000 after purchasing an additional 1,747 shares during the period. 66.01% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

NEP has been the topic of a number of recent analyst reports. Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Morgan Stanley reissued an “underweight” rating and set a $13.00 price target (down from $22.00) on shares of NextEra Energy Partners in a research report on Monday. Guggenheim dropped their price target on NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 29th. Evercore ISI dropped their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. dropped their price target on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Four analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $21.47.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $10.56 on Monday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. NextEra Energy Partners, LP has a fifty-two week low of $9.98 and a fifty-two week high of $35.15. The stock’s 50-day moving average is $17.07 and its two-hundred day moving average is $21.48. The firm has a market cap of $987.21 million, a P/E ratio of -105.55 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. NextEra Energy Partners had a positive return on equity of 1.34% and a negative net margin of 0.73%. Analysts predict that NextEra Energy Partners, LP will post 1.54 earnings per share for the current fiscal year.

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.