NextEra Energy Partners (NYSE:NEP) Given New $21.00 Price Target at CIBC

NextEra Energy Partners (NYSE:NEP) had its price objective dropped by analysts at CIBC from $26.00 to $21.00 in a research report issued on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the solar energy provider’s stock. CIBC’s target price would indicate a potential upside of 14.82% from the stock’s current price.

A number of other analysts also recently weighed in on NEP. Barclays reissued an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. Mizuho decreased their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Jefferies Financial Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. UBS Group lowered their price objective on 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. Finally, Scotiabank reduced their target price on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, December 12th. Three equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $25.21.

NextEra Energy Partners Trading Down 3.1 %

Shares of NYSE:NEP opened at $18.29 on Wednesday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The stock’s 50-day moving average is $17.78 and its 200-day moving average is $22.91. The company has a market cap of $1.71 billion, a P/E ratio of 8.39 and a beta of 1.06. NextEra Energy Partners has a 52-week low of $15.55 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly 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 1.07% and a net margin of 17.47%. The business had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. During the same period in the prior year, the firm earned $0.57 earnings per share. The business’s quarterly revenue was up 3.6% on a year-over-year basis. Equities research analysts predict that NextEra Energy Partners will post 1.96 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the company. Central Pacific Bank Trust Division increased its holdings in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after purchasing an additional 3,750 shares in the last quarter. Franklin Resources Inc. increased its stake in shares of NextEra Energy Partners by 89.4% in the third quarter. Franklin Resources Inc. now owns 78,930 shares of the solar energy provider’s stock valued at $2,049,000 after buying an additional 37,265 shares in the last quarter. Castellan Group raised its holdings in shares of NextEra Energy Partners by 18.6% in the third quarter. Castellan Group now owns 125,827 shares of the solar energy provider’s stock valued at $3,475,000 after buying an additional 19,743 shares during the last quarter. Sanctuary Advisors LLC lifted its position in NextEra Energy Partners by 11.0% during the 3rd quarter. Sanctuary Advisors LLC now owns 24,540 shares of the solar energy provider’s stock worth $678,000 after buying an additional 2,437 shares in the last quarter. Finally, Barclays PLC grew its holdings in NextEra Energy Partners by 41.1% during the 3rd quarter. Barclays PLC now owns 21,315 shares of the solar energy provider’s stock worth $589,000 after acquiring an additional 6,205 shares during the last quarter. Institutional investors own 66.01% of the company’s stock.

About NextEra Energy Partners

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.