Is Nextera Energy Partners LP (NYSE:NEP) a good investment? Phill Gross and Robert Atchinson seem to think so. According to a recent filing with the Securities and Exchange Commission, their fund, Adage Capital Management has acquired approximately 1.22 million shares, which gives it control over 7.54% of the total number of shares outstanding.
So far, from the hedge funds that we track, Adage Capital Management is the first one to to add Nextera Energy Partners LP (NYSE:NEP) to its equity portfolio. The company has closed its Initial Public Offering (IPO) on July 1. 16.2 million shares of common stock were issued at a price of $25 per unit. Options for additional 2.43 million shares were offered to the underwriters, who have exercised them in full. Nextera Energy Partners LP (NYSE:NEP) has announced net proceedings from the offering of $442.7 million, which are to be used for general corporate purposes and for future expansion of its core activities.