NextEra Energy Partners (NYSE:NEP) Shares Gap Down - Should You Sell?

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report)'s share price gapped down before the market opened on Tuesday . The stock had previously closed at $15.80, but opened at $11.93. NextEra Energy Partners shares last traded at $11.45, with a volume of 4,573,333 shares traded.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. BMO Capital Markets reaffirmed a "market perform" rating and issued a $18.00 price target (down from $26.00) on shares of NextEra Energy Partners in a research report on Monday, January 13th. Barclays reaffirmed an "underweight" rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. JPMorgan Chase & Co. cut their price target on NextEra Energy Partners from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday, January 23rd. Mizuho lowered their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a "neutral" rating on the stock in a research note on Wednesday, October 9th. Finally, Jefferies Financial Group cut their target price on shares of NextEra Energy Partners from $25.00 to $15.00 and set a "buy" rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $22.07.

NextEra Energy Partners Trading Up 1.1 %

The company has a 50 day moving average of $17.20 and a 200 day moving average of $21.68. The firm has a market cap of $987.21 million, a price-to-earnings ratio of -105.55 and a beta of 1.06. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, beating the consensus estimate 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%. As a group, research analysts anticipate that NextEra Energy Partners, LP will post 1.54 EPS for the current year.

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently modified their holdings of the company. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of NextEra Energy Partners in the 4th quarter worth approximately $21,449,000. Thrivent Financial for Lutherans bought a new position in NextEra Energy Partners in the 3rd quarter valued at $16,186,000. Two Sigma Advisers LP acquired a new position in NextEra Energy Partners in the third quarter worth $15,310,000. M&G PLC grew its holdings in shares of NextEra Energy Partners by 19.3% during the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock worth $85,738,000 after purchasing an additional 496,383 shares during the last quarter. Finally, Graham Capital Wealth Management LLC bought a new position in shares of NextEra Energy Partners in the fourth quarter valued at about $3,003,000. Institutional investors and hedge funds own 66.01% of the company's stock.

About NextEra Energy Partners

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.