NextEra Energy Partners (NYSE:NEP) Stock Rating Reaffirmed by Barclays

NextEra Energy Partners (NYSE:NEP)‘s stock had its “underweight” rating reiterated by equities researchers at Barclays in a report released on Friday, Benzinga reports. They currently have a $25.00 price target on the solar energy provider’s stock. Barclays‘s target price suggests a potential downside of 3.06% from the stock’s previous close.

NEP has been the subject of a number of other reports. UBS Group decreased their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Jefferies Financial Group started coverage on shares of NextEra Energy Partners in a research report on Thursday, September 19th. They issued a “buy” rating and a $28.00 price target on the stock. Mizuho cut shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, June 12th. Finally, BNP Paribas initiated coverage on NextEra Energy Partners in a research note on Tuesday. They issued an “underperform” rating and a $15.00 price objective for the company. Five investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, NextEra Energy Partners presently has a consensus rating of “Hold” and an average price target of $30.08.

NextEra Energy Partners Stock Down 0.0 %

NYSE:NEP traded down $0.01 on Friday, reaching $25.79. 129,399 shares of the stock traded hands, compared to its average volume of 1,401,807. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $2.41 billion, a price-to-earnings ratio of 8.46 and a beta of 1.05. NextEra Energy Partners has a 12 month low of $20.17 and a 12 month high of $35.15. The company’s fifty day simple moving average is $25.62 and its 200 day simple moving average is $28.11.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. During the same quarter last year, the company earned $0.53 EPS. The company’s quarterly revenue was up 22.9% compared to the same quarter last year. Equities analysts predict that NextEra Energy Partners will post 2.2 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

A number of large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in NextEra Energy Partners by 3.6% during the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after acquiring an additional 22,370 shares during the last quarter. Fred Alger Management LLC purchased a new position in shares of NextEra Energy Partners in the 2nd quarter valued at $5,452,000. Caxton Associates LP purchased a new stake in shares of NextEra Energy Partners during the 4th quarter worth $1,509,000. Cetera Investment Advisers raised its holdings in NextEra Energy Partners by 574.0% in the first quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider’s stock worth $1,917,000 after purchasing an additional 54,267 shares in the last quarter. Finally, Janus Henderson Group PLC purchased a new position in shares of NextEra Energy Partners in the 1st quarter worth approximately $1,308,000. 66.01% of the stock is currently owned by institutional investors.

NextEra Energy Partners Company Profile

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.