NextEra Energy Partners (NYSE:NEP - Get Free Report) had its price target cut by investment analysts at Scotiabank from $15.00 to $12.00 in a report released on Wednesday,Benzinga reports. The brokerage currently has a "sector perform" rating on the solar energy provider's stock. Scotiabank's price target suggests a potential upside of 13.69% from the company's current price.
Other research analysts have also recently issued reports about the stock. Evercore ISI decreased their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a report on Thursday, October 24th. Wells Fargo & Company lowered their price target on NextEra Energy Partners from $33.00 to $13.00 and set an "equal weight" rating on the stock in a research report on Wednesday. Mizuho cut their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a report on Wednesday, October 9th. Morgan Stanley raised NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 target price on the stock in a report on Monday, December 2nd. Finally, BMO Capital Markets reissued a "market perform" rating and issued a $18.00 price target (down from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $22.07.
Read Our Latest Stock Analysis on NEP
NextEra Energy Partners Stock Performance
NextEra Energy Partners stock traded up $0.12 during mid-day trading on Wednesday, hitting $10.56. 4,907,315 shares of the company's stock traded hands, compared to its average volume of 3,528,945. NextEra Energy Partners has a one year low of $9.98 and a one year high of $35.15. The company has a market cap of $987.21 million, a PE ratio of -105.55 and a beta of 1.06. The firm has a 50 day moving average price of $17.07 and a 200 day moving average price of $21.52. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.
NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share for the quarter, beating analysts' consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a negative net margin of 0.73% and a positive return on equity of 1.34%. On average, equities analysts forecast that NextEra Energy Partners will post 1.54 EPS for the current year.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of NEP. Northwestern Mutual Wealth Management Co. grew its stake in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock valued at $46,000 after acquiring an additional 1,000 shares in the last quarter. Avion Wealth increased its stake in NextEra Energy Partners by 610.2% in the 4th quarter. Avion Wealth now owns 2,642 shares of the solar energy provider's stock valued at $47,000 after buying an additional 2,270 shares during the period. Eastern Bank purchased a new stake in NextEra Energy Partners in the 3rd quarter worth approximately $57,000. McIlrath & Eck LLC acquired a new stake in shares of NextEra Energy Partners during the 3rd quarter valued at $63,000. Finally, Central Pacific Bank Trust Division grew its holdings in shares of 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 acquiring an additional 3,750 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company's stock.
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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