Wells Fargo & Company Cuts NextEra Energy Partners (NYSE:NEP) Price Target to $13.00

NextEra Energy Partners (NYSE:NEP - Get Free Report) had its price objective lowered by stock analysts at Wells Fargo & Company from $33.00 to $13.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has an "equal weight" rating on the solar energy provider's stock. Wells Fargo & Company's price target would suggest a potential upside of 23.16% from the company's previous close.

A number of other analysts also recently weighed in on NEP. Mizuho dropped their target price on NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating for the company in a research report on Wednesday, October 9th. BNP Paribas began coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an "underperform" rating and a $15.00 price objective for the company. Jefferies Financial Group decreased their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating on the stock in a research report on Thursday, October 24th. Guggenheim lowered shares of NextEra Energy Partners from a "buy" rating to a "neutral" rating and cut their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. Finally, Barclays reiterated an "underweight" rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $22.07.

NextEra Energy Partners Price Performance

NEP stock traded up $0.12 during midday trading on Wednesday, reaching $10.56. The company had a trading volume of 4,907,315 shares, compared to its average volume of 3,528,945. 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 debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The company has a market capitalization of $987.21 million, a P/E ratio of -105.55 and a beta of 1.06. NextEra Energy Partners has a 1 year low of $9.98 and a 1 year high of $35.15.

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, beating 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%. On average, research analysts anticipate that NextEra Energy Partners will post 1.54 earnings per share for the current fiscal year.

Institutional Trading of NextEra Energy Partners

Several large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of NextEra Energy Partners by 150.4% in the 2nd 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. Avion Wealth raised its stake in NextEra Energy Partners by 610.2% in the fourth quarter. Avion Wealth now owns 2,642 shares of the solar energy provider's stock worth $47,000 after buying an additional 2,270 shares in the last quarter. Eastern Bank purchased a new stake in NextEra Energy Partners in the third quarter worth about $57,000. McIlrath & Eck LLC bought a new stake in NextEra Energy Partners during the 3rd quarter valued at approximately $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 worth $110,000 after acquiring an additional 3,750 shares during the period. 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.