Nextera Energy Partners LP (NEP): Steadfast Capital Management Reveals New Passive Stake

In a new filing with the U.S. Securities and Exchange Commission, Steadfast Capital Management, managed by Robert Pitts, has revealed a new passive stake in Nextera Energy Partners LP (NYSE:NEP). The filing showed that Steadfast Capital owns 1.27 million common units of the company, the stake is equal to 6.8% of the class.

NextEra Energy Partners LP (NYSE: NEP) is a growth-oriented limited partnership formed by NextEra Energy Inc. (NYSE: NEE) to own, operate and acquire contracted clean energy projects with stable, long-term cash flows. The company has a market cap of $3.33 billion.

Recently, NextEra Energy Partners conducted an initial public offering of 16.25 million common units, representing limited partner interests, offered at a price of $25.00 per common unit. The underwriters exercised in full their option to purchase an additional 2.44 million common units from NextEra Energy Partners at the initial public offering price, less the underwriting discount.

Shares of NextEra Energy Partners traded down by 0.57% to $34.86 on Tuesday. It has a 52 week high of $35.82 and a 52 week low of $31.32.

Steadfast Capital Management is a New York-based privately owned hedge fund, which has a 13F portfolio of more than $3 billion, mainly investing in the financial, technology, basic materials, and healthcare sectors. According to its latest 13F filing, the largest holding, in term of value, was Actavis plc (NYSE:ACT), in which the fund revealed owning 1.69 million shares. It is followed by Hess Corp. (NYSE:HES), in which the fund holds 3.68 million shares.

In a recent filing, Steadfast Capital Management disclosed a new passive stake in Delek US Holdings Inc. (NYSE:DK), owning a 6.2% passive stake, which contains around 3.70 million shares of the company’s common stock. At the beginning of this year, Steadfast Capital reported boosting its position in Evertec Inc. (NYSE:EVTC) to 3.99 million shares, equivalent to 5.1% of the common stock.

Disclosure: none