Elkfork Partners LLC lowered its stake in Nextera Energy Partners LP (NYSE:NEP) by 56.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 8,848 shares of the solar energy provider’s stock after selling 11,590 shares during the period. Elkfork Partners LLC’s holdings in Nextera Energy Partners were worth $381,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Public Employees Retirement Association of Colorado acquired a new stake in shares of Nextera Energy Partners in the fourth quarter worth about $105,000. Teachers Advisors LLC lifted its position in shares of Nextera Energy Partners by 181.3% in the fourth quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock worth $119,000 after buying an additional 1,777 shares during the last quarter. Stephens Inc. AR acquired a new stake in shares of Nextera Energy Partners in the third quarter worth about $206,000. Cubist Systematic Strategies LLC acquired a new stake in shares of Nextera Energy Partners in the third quarter worth about $260,000. Finally, BNP Paribas Arbitrage SA lifted its position in shares of Nextera Energy Partners by 66.7% in the third quarter. BNP Paribas Arbitrage SA now owns 8,000 shares of the solar energy provider’s stock worth $322,000 after buying an additional 3,200 shares during the last quarter. 83.23% of the stock is owned by institutional investors.

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Nextera Energy Partners stock opened at $40.93 on Thursday. Nextera Energy Partners LP has a 12-month low of $31.62 and a 12-month high of $45.38. The company has a debt-to-equity ratio of 2.54, a quick ratio of 1.44 and a current ratio of 1.44. The firm has a market capitalization of $2,159.19, a PE ratio of -34.11, a P/E/G ratio of 1.79 and a beta of 1.25.

Nextera Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Friday, January 26th. The solar energy provider reported $0.19 earnings per share for the quarter, missing the consensus estimate of $0.26 by ($0.07). Nextera Energy Partners had a positive return on equity of 1.80% and a negative net margin of 8.63%. The business had revenue of $197.00 million for the quarter, compared to analyst estimates of $251.41 million. During the same period in the prior year, the firm posted ($0.23) EPS. analysts forecast that Nextera Energy Partners LP will post 1.97 earnings per share for the current fiscal year.

A number of brokerages have weighed in on NEP. Guggenheim began coverage on Nextera Energy Partners in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 price target for the company. Zacks Investment Research cut Nextera Energy Partners from a “hold” rating to a “sell” rating in a research report on Wednesday, January 17th. Morgan Stanley raised Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research report on Tuesday, December 12th. Bank of America raised Nextera Energy Partners from an “underperform” rating to a “buy” rating and boosted their price target for the stock from $39.12 to $43.00 in a research report on Friday, March 16th. Finally, Credit Suisse Group began coverage on Nextera Energy Partners in a research report on Thursday, December 7th. They issued an “outperform” rating and a $44.00 price target for the company. Seven research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Nextera Energy Partners has an average rating of “Buy” and a consensus target price of $41.41.

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About Nextera Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

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

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