NextEra Energy Partners (NYSE:NEP - Get Free Report) announced its quarterly earnings results on Tuesday. The solar energy provider reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.20, Zacks reports. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%.
NextEra Energy Partners Stock Down 25.3 %
Shares of NextEra Energy Partners stock traded down $3.99 on Tuesday, hitting $11.81. 21,882,275 shares of the company's stock traded hands, compared to its average volume of 3,279,724. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The firm's 50-day moving average is $17.51 and its 200 day moving average is $21.95. The stock has a market cap of $1.10 billion, a P/E ratio of 5.42 and a beta of 1.06. NextEra Energy Partners has a 52-week low of $10.69 and a 52-week high of $35.15.
Analyst Upgrades and Downgrades
NEP has been the topic of a number of research reports. Morgan Stanley upgraded NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 price objective on the stock in a report on Monday, December 2nd. Evercore ISI cut their price target on shares of NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. BNP Paribas assumed coverage on shares of NextEra Energy Partners in a research report on Tuesday, October 1st. They set an "underperform" rating and a $15.00 price target on the stock. Guggenheim lowered shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $37.00 to $22.00 in a research report on Monday, October 28th. Finally, UBS Group reduced their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, NextEra Energy Partners currently has an average rating of "Hold" and a consensus price target of $24.50.
Check Out Our Latest Stock Report on NEP
About NextEra Energy Partners
(
Get Free Report)
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.
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