NextEra Energy Partners (NYSE:NEP) Price Target Cut to $27.00

NextEra Energy Partners (NYSE:NEP) had its price target reduced by research analysts at Jefferies Financial Group from $28.00 to $27.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the solar energy provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 27.96% from the stock’s previous close.

Several other brokerages also recently issued reports on NEP. Wolfe Research downgraded shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their price objective for the stock from $25.00 to $22.00 in a research note on Thursday. Royal Bank of Canada cut NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their target price for the company from $38.00 to $30.00 in a research note on Monday, July 1st. BMO Capital Markets reduced their price target on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a research report on Monday, October 21st. Finally, UBS Group lowered their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and an average price target of $27.85.

NextEra Energy Partners Trading Up 0.5 %

NYSE:NEP opened at $21.10 on Thursday. The stock has a fifty day simple moving average of $25.44 and a 200 day simple moving average of $27.67. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 6.64 and a beta of 1.06. NextEra Energy Partners has a 1-year low of $20.28 and a 1-year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last announced 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 negative return on equity of 0.40% and a net margin of 24.42%. The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same quarter in the previous year, the business earned $0.57 earnings per share. The business’s quarterly revenue was up 3.6% compared to the same quarter last year. Sell-side analysts forecast that NextEra Energy Partners will post 2.2 earnings per share for the current year.

Institutional Investors Weigh In On NextEra Energy Partners

A number of large investors have recently added to or reduced their stakes in the stock. Hexagon Capital Partners LLC boosted its holdings in shares of NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after buying an additional 627 shares during the period. Central Pacific Bank Trust Division bought a new stake in NextEra Energy Partners during the first quarter valued at about $36,000. FinTrust Capital Advisors LLC acquired a new stake in shares of NextEra Energy Partners in the first quarter valued at about $45,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares during the period. Finally, Larson Financial Group LLC acquired a new position in shares of NextEra Energy Partners during the 1st quarter worth about $48,000. Institutional investors own 66.01% of the company’s stock.

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.