NextEra Energy Partners (NYSE:NEP) Reaches New 12-Month Low - Should You Sell?

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) reached a new 52-week low during mid-day trading on Monday . The company traded as low as $15.55 and last traded at $15.68, with a volume of 220942 shares changing hands. The stock had previously closed at $15.70.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Jefferies Financial Group lowered their price objective on NextEra Energy Partners from $25.00 to $15.00 and set a "buy" rating on the stock in a research note on Wednesday. Barclays restated an "underweight" rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. BMO Capital Markets reissued a "market perform" rating and set a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Scotiabank decreased their price target on NextEra Energy Partners from $15.00 to $12.00 and set a "sector perform" rating for the company in a research note on Wednesday. Finally, Wells Fargo & Company dropped their target price on shares of NextEra Energy Partners from $33.00 to $13.00 and set an "equal weight" rating on the stock in a report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $22.07.

NextEra Energy Partners Trading Up 1.1 %

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 firm has a market capitalization of $987.21 million, a P/E ratio of -105.55 and a beta of 1.06. The firm has a 50 day simple moving average of $17.07 and a two-hundred day simple moving average of $21.52.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, topping analysts' consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a positive return on equity of 1.34% and a negative net margin of 0.73%. Equities research analysts forecast that NextEra Energy Partners, LP will post 1.54 earnings per share for the current year.

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently made changes to their positions in the company. Truist Financial Corp increased its position in shares of NextEra Energy Partners by 10.1% during the fourth quarter. Truist Financial Corp now owns 11,434 shares of the solar energy provider's stock valued at $204,000 after buying an additional 1,049 shares during the period. Castellan Group raised its holdings in shares of NextEra Energy Partners by 4.6% during the 4th quarter. Castellan Group now owns 131,599 shares of the solar energy provider's stock valued at $2,342,000 after buying an additional 5,772 shares in the last quarter. Avion Wealth lifted its holdings in shares of NextEra Energy Partners by 610.2% in the 4th quarter. Avion Wealth now owns 2,642 shares of the solar energy provider's stock worth $47,000 after acquiring an additional 2,270 shares during the last quarter. Entropy Technologies LP lifted its stake in NextEra Energy Partners by 29.2% in the fourth quarter. Entropy Technologies LP now owns 28,675 shares of the solar energy provider's stock worth $510,000 after purchasing an additional 6,488 shares during the last quarter. Finally, abrdn plc boosted its holdings in NextEra Energy Partners by 15.3% during the 4th quarter. abrdn plc now owns 980,200 shares of the solar energy provider's stock valued at $17,242,000 after acquiring an additional 130,000 shares during the period. 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.