NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) shares saw unusually-high trading volume on Wednesday following a stronger than expected earnings report. Approximately 2,508,746 shares changed hands during mid-day trading, a decline of 21% from the previous session's volume of 3,182,788 shares.The stock last traded at $10.69 and had previously closed at $11.83.
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%.
Analyst Upgrades and Downgrades
NEP has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their price target on shares of NextEra Energy Partners from $22.00 to $20.00 and set a "neutral" rating on the stock in a report on Thursday, January 23rd. BMO Capital Markets restated 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. Morgan Stanley upgraded NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 price target for the company in a research note on Monday, December 2nd. Evercore ISI lowered their price objective on NextEra Energy Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a report on Thursday, October 24th. Finally, Wells Fargo & Company decreased their target price on NextEra Energy Partners from $33.00 to $13.00 and set an "equal weight" rating for the company in a research report on Wednesday. Three analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $22.07.
View Our Latest Stock Report on NextEra Energy Partners
Institutional Investors Weigh In On NextEra Energy Partners
A number of institutional investors have recently added to or reduced their stakes in NEP. Northwestern Mutual Wealth Management Co. increased its position in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock valued at $46,000 after purchasing an additional 1,000 shares during the period. Eastern Bank acquired a new stake in NextEra Energy Partners during the third quarter worth $57,000. McIlrath & Eck LLC bought a new stake in NextEra Energy Partners in the 3rd quarter valued at $63,000. Avion Wealth raised its stake 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 valued at $47,000 after buying an additional 2,270 shares in the last quarter. Finally, Central Pacific Bank Trust Division lifted 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. 66.01% of the stock is owned by institutional investors and hedge funds.
NextEra Energy Partners Stock Performance
The firm has a market capitalization of $987.25 million, a price-to-earnings ratio of -105.55 and a beta of 1.06. The firm's 50-day moving average price is $17.07 and its two-hundred day moving average price is $21.48. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.
About NextEra Energy Partners
(
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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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