NextEra Energy Partners (NYSE:NEP) Given New $30.00 Price Target at Evercore ISI

NextEra Energy Partners (NYSE:NEP - Free Report) had its price objective reduced by Evercore ISI from $32.00 to $30.00 in a report released on Thursday, Benzinga reports. They currently have an outperform rating on the solar energy provider's stock.

Several other equities analysts have also recently issued reports on NEP. Raymond James cut shares of NextEra Energy Partners from an "outperform" rating to a "market perform" rating in a research note on Tuesday, July 9th. UBS Group cut their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating for the company in a research report on Monday, September 30th. BMO Capital Markets lowered their price target on NextEra Energy Partners from $28.00 to $26.00 and set an "outperform" rating on the stock in a report on Monday. Jefferies Financial Group reduced their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating for the company in a research report on Thursday. Finally, Royal Bank of Canada downgraded NextEra Energy Partners from an "outperform" rating to a "sector perform" rating and cut their price target for the company from $38.00 to $30.00 in a research note on Monday, July 1st. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $27.85.

NextEra Energy Partners Stock Down 0.1 %

Shares of NYSE:NEP traded down $0.02 on Thursday, hitting $20.99. 5,988,650 shares of the company traded hands, compared to its average volume of 1,459,095. The stock has a 50 day simple moving average of $25.61 and a 200-day simple moving average of $27.77. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The company has a market cap of $1.96 billion, a PE ratio of 6.88 and a beta of 1.06. NextEra Energy Partners has a 52 week low of $20.28 and a 52 week high of $35.15.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm had revenue of $319.00 million during the quarter, compared to analysts' expectations of $332.25 million. During the same period last year, the firm posted $0.57 earnings per share. The firm's quarterly revenue was up 3.6% on a year-over-year basis. As a group, research analysts expect that NextEra Energy Partners will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its stake in NextEra Energy Partners by 15.5% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 8,763 shares of the solar energy provider's stock worth $266,000 after purchasing an additional 1,179 shares in the last quarter. Brown Miller Wealth Management LLC boosted its stake in NextEra Energy Partners by 44.4% during the first quarter. Brown Miller Wealth Management LLC now owns 18,033 shares of the solar energy provider's stock valued at $542,000 after buying an additional 5,546 shares during the last quarter. Hexagon Capital Partners LLC grew its holdings in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider's stock valued at $28,000 after buying an additional 627 shares in the last quarter. InTrack Investment Management Inc increased its stake in NextEra Energy Partners by 23.1% in the 1st quarter. InTrack Investment Management Inc now owns 11,275 shares of the solar energy provider's stock worth $339,000 after acquiring an additional 2,114 shares during the last quarter. Finally, Abundance Wealth Counselors raised its holdings in shares of NextEra Energy Partners by 44.9% during the 1st quarter. Abundance Wealth Counselors now owns 50,753 shares of the solar energy provider's stock worth $1,527,000 after acquiring an additional 15,737 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.