NextEra Energy Partners (NYSE:NEP – Get Rating) had its price objective reduced by research analysts at Morgan Stanley from $93.00 to $86.00 in a research report issued on Monday, Stock Target Advisor reports. The firm currently has an “equal weight” rating on the solar energy provider’s stock. Morgan Stanley’s price target would indicate a potential upside of 21.31% from the company’s previous close.
A number of other research analysts have also weighed in on the company. CIBC started coverage on NextEra Energy Partners in a research report on Thursday. They set a “neutral” rating and a $79.00 price objective for the company. KeyCorp dropped their price target on NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating for the company in a research report on Wednesday, April 20th. Royal Bank of Canada lifted their price target on NextEra Energy Partners from $80.00 to $86.00 and gave the stock a “sector perform” rating in a research report on Wednesday, March 23rd. Credit Suisse Group dropped their target price on NextEra Energy Partners from $87.00 to $78.00 in a research report on Wednesday, April 27th. Finally, StockNews.com upgraded NextEra Energy Partners from a “sell” rating to a “hold” rating in a research report on Sunday, April 3rd. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $86.43.
NYSE:NEP traded down $3.20 on Monday, reaching $70.89. 3,925 shares of the company’s stock traded hands, compared to its average volume of 524,932. The company has a quick ratio of 1.55, a current ratio of 1.60 and a debt-to-equity ratio of 0.48. The stock has a 50-day simple moving average of $71.51 and a 200-day simple moving average of $76.45. The firm has a market cap of $5.95 billion, a PE ratio of 81.60, a P/E/G ratio of 2.83 and a beta of 0.92. NextEra Energy Partners has a 12 month low of $61.31 and a 12 month high of $88.80.
NextEra Energy Partners (NYSE:NEP – Get Rating) last issued its quarterly earnings data on Thursday, April 21st. The solar energy provider reported $1.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. The firm had revenue of $281.00 million during the quarter, compared to analyst estimates of $305.98 million. NextEra Energy Partners had a return on equity of 1.58% and a net margin of 15.13%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $2.66 earnings per share. On average, equities analysts anticipate that NextEra Energy Partners will post 2.62 earnings per share for the current year.
Several institutional investors and hedge funds have recently made changes to their positions in NEP. BlackRock Inc. grew its holdings in shares of NextEra Energy Partners by 3,310.7% during the fourth quarter. BlackRock Inc. now owns 7,253,580 shares of the solar energy provider’s stock valued at $612,202,000 after buying an additional 7,040,908 shares during the last quarter. Beach Investment Counsel Inc. PA purchased a new stake in shares of NextEra Energy Partners during the first quarter valued at $92,207,000. Royal Bank of Canada grew its holdings in shares of NextEra Energy Partners by 277.3% during the third quarter. Royal Bank of Canada now owns 1,060,073 shares of the solar energy provider’s stock valued at $79,886,000 after buying an additional 779,074 shares during the last quarter. ClearBridge Investments Ltd grew its holdings in shares of NextEra Energy Partners by 94.8% during the first quarter. ClearBridge Investments Ltd now owns 1,541,145 shares of the solar energy provider’s stock valued at $128,470,000 after buying an additional 750,144 shares during the last quarter. Finally, Eaton Vance Management grew its holdings in shares of NextEra Energy Partners by 46.2% during the first quarter. Eaton Vance Management now owns 731,033 shares of the solar energy provider’s stock valued at $60,939,000 after buying an additional 231,102 shares during the last quarter. 81.32% of the stock is currently owned by hedge funds and other institutional investors.
About NextEra Energy Partners (Get Rating)
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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.
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