B. Riley Wealth Advisors Inc. Sells 2,624 Shares of NextEra Energy Partners, LP (NYSE:NEP)

B. Riley Wealth Advisors Inc. decreased its stake in NextEra Energy Partners, LP (NYSE:NEP) by 24.6% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 8,024 shares of the solar energy provider’s stock after selling 2,624 shares during the period. B. Riley Wealth Advisors Inc.’s holdings in NextEra Energy Partners were worth $210,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. M&G PLC increased its position in NextEra Energy Partners by 19.3% in the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after buying an additional 496,383 shares during the last quarter. Redwood Grove Capital LLC raised its stake in NextEra Energy Partners by 19.7% in the 3rd quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock valued at $27,129,000 after acquiring an additional 161,436 shares during the period. abrdn plc lifted its holdings in NextEra Energy Partners by 6.2% during the third quarter. abrdn plc now owns 850,200 shares of the solar energy provider’s stock valued at $23,483,000 after purchasing an additional 49,400 shares during the last quarter. Rockefeller Capital Management L.P. boosted its position in NextEra Energy Partners by 8.0% during the third quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider’s stock worth $17,417,000 after purchasing an additional 46,728 shares during the period. Finally, Thrivent Financial for Lutherans purchased a new position in shares of NextEra Energy Partners in the third quarter worth about $16,186,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts recently commented on NEP shares. UBS Group cut their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Monday, September 30th. JPMorgan Chase & Co. upgraded NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their price target for the company from $25.00 to $22.00 in a research report on Thursday, October 24th. Morgan Stanley upgraded NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Monday, December 2nd. Mizuho reduced their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Finally, BNP Paribas assumed coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price target on the stock. Three analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $26.00.

NextEra Energy Partners Trading Up 0.6 %

NYSE NEP opened at $17.61 on Friday. The company has a market capitalization of $1.65 billion, a price-to-earnings ratio of 8.08 and a beta of 1.07. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners, LP has a twelve month low of $15.55 and a twelve month high of $35.15. The stock’s 50-day simple moving average is $19.15 and its two-hundred day simple moving average is $24.00.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) EPS for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. The business had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. During the same period in the prior year, the business posted $0.57 EPS. NextEra Energy Partners’s revenue for the quarter was up 3.6% on a year-over-year basis. Research analysts forecast that NextEra Energy Partners, LP will post 1.96 EPS for the current fiscal year.

NextEra Energy Partners Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were paid a $0.9175 dividend. This is a boost from NextEra Energy Partners’s previous quarterly dividend of $0.91. This represents a $3.67 dividend on an annualized basis and a yield of 20.84%. The ex-dividend date was Wednesday, November 6th. NextEra Energy Partners’s payout ratio is 168.35%.

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.