NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) shares gapped down before the market opened on Wednesday after CIBC lowered their price target on the stock from $34.00 to $32.00. The stock had previously closed at $25.09, but opened at $23.42. CIBC currently has a neutral rating on the stock. NextEra Energy Partners shares last traded at $23.24, with a volume of 1,000,644 shares.
Several other brokerages also recently issued reports on NEP. Royal Bank of Canada downgraded shares of NextEra Energy Partners from an "outperform" rating to a "sector perform" rating and reduced their price target for the company from $38.00 to $30.00 in a report on Monday, July 1st. Wolfe Research downgraded shares of NextEra Energy Partners from an "outperform" rating to a "peer perform" rating in a report on Thursday, July 25th. Morgan Stanley downgraded shares of NextEra Energy Partners from an "equal weight" rating to an "underweight" rating and reduced their price target for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. UBS Group reduced their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating on the stock in a research note on Monday, September 30th. Finally, Jefferies Financial Group initiated coverage on shares of NextEra Energy Partners in a research note on Thursday, September 19th. They set a "buy" rating and a $28.00 price objective on the stock. Five equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy Partners has an average rating of "Hold" and a consensus price target of $29.15.
Check Out Our Latest Report on NextEra Energy Partners
Institutional Investors Weigh In On NextEra Energy Partners
Large investors have recently made changes to their positions in the business. Vanguard Group Inc. increased its position in shares of NextEra Energy Partners by 3.6% in the first quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider's stock worth $19,127,000 after acquiring an additional 22,370 shares in the last quarter. Marshall Wace LLP acquired a new stake in shares of NextEra Energy Partners in the second quarter worth $638,000. Fred Alger Management LLC acquired a new stake in shares of NextEra Energy Partners in the second quarter worth $5,452,000. Sanctuary Advisors LLC acquired a new stake in shares of NextEra Energy Partners in the second quarter worth $639,000. Finally, Cetera Investment Advisers grew its holdings in NextEra Energy Partners by 574.0% during the 1st quarter. Cetera Investment Advisers now owns 63,722 shares of the solar energy provider's stock valued at $1,917,000 after purchasing an additional 54,267 shares in the last quarter. Institutional investors and hedge funds own 66.01% of the company's stock.
NextEra Energy Partners Stock Performance
The stock's fifty day moving average is $25.69 and its two-hundred day moving average is $27.82. The firm has a market capitalization of $1.97 billion, a price-to-earnings ratio of 7.55 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30.
NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, beating analysts' consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million during the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business's revenue was up 22.9% on a year-over-year basis. During the same period last year, the business earned $0.53 EPS. Analysts forecast that NextEra Energy Partners, LP will post 2.2 earnings per share for the current year.
NextEra Energy Partners Company Profile
(
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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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