NextEra Energy Partners (NYSE:NEP – Get Free Report) had its target price decreased by equities researchers at Bank of America from $60.00 to $30.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a “neutral” rating on the solar energy provider’s stock. Bank of America‘s target price points to a potential upside of 17.79% from the company’s current price.
Several other analysts also recently weighed in on the company. JPMorgan Chase & Co. downgraded NextEra Energy Partners from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $69.00 to $40.00 in a research note on Thursday. Morgan Stanley reduced their price objective on NextEra Energy Partners from $81.00 to $65.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 20th. Oppenheimer lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Wednesday, September 27th. Scotiabank reduced their price target on shares of NextEra Energy Partners from $85.00 to $58.00 and set a “sector perform” rating for the company in a report on Thursday. Finally, BMO Capital Markets dropped their price objective on shares of NextEra Energy Partners from $76.00 to $47.00 and set an “outperform” rating on the stock in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $57.77.
Check Out Our Latest Research Report on NEP
NextEra Energy Partners Stock Performance
NextEra Energy Partners stock traded down $4.23 during trading hours on Monday, reaching $25.47. 9,016,071 shares of the company were exchanged, compared to its average volume of 1,099,869. NextEra Energy Partners has a 12 month low of $24.25 and a 12 month high of $81.32. The company has a current ratio of 1.22, a quick ratio of 1.16 and a debt-to-equity ratio of 0.41. The stock has a 50-day moving average of $48.48 and a 200 day moving average of $55.93. The firm has a market cap of $2.38 billion, a price-to-earnings ratio of 15.38, a PEG ratio of 1.89 and a beta of 0.98.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last posted its quarterly earnings data on Tuesday, July 25th. The solar energy provider reported $0.53 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.72 by ($0.19). NextEra Energy Partners had a return on equity of 1.06% and a net margin of 12.22%. The firm had revenue of $350.00 million for the quarter, compared to the consensus estimate of $392.92 million. During the same period in the prior year, the company posted $2.61 earnings per share. As a group, research analysts anticipate that NextEra Energy Partners will post 1.27 earnings per share for the current year.
Institutional Investors Weigh In On NextEra Energy Partners
Large investors have recently made changes to their positions in the company. Allworth Financial LP lifted its holdings in NextEra Energy Partners by 11.5% during the 1st quarter. Allworth Financial LP now owns 2,086 shares of the solar energy provider’s stock valued at $127,000 after purchasing an additional 215 shares during the last quarter. Credit Suisse AG increased its holdings in shares of NextEra Energy Partners by 28.8% during the first quarter. Credit Suisse AG now owns 557,818 shares of the solar energy provider’s stock worth $33,887,000 after buying an additional 124,575 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NextEra Energy Partners by 4.0% in the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,680 shares of the solar energy provider’s stock valued at $1,135,000 after acquiring an additional 716 shares during the last quarter. Atria Investments Inc boosted its holdings in shares of NextEra Energy Partners by 1.7% in the 1st quarter. Atria Investments Inc now owns 23,847 shares of the solar energy provider’s stock worth $1,449,000 after acquiring an additional 410 shares in the last quarter. Finally, Carnegie Capital Asset Management LLC grew its position in NextEra Energy Partners by 2.4% during the 1st quarter. Carnegie Capital Asset Management LLC now owns 10,885 shares of the solar energy provider’s stock worth $661,000 after acquiring an additional 250 shares during the last quarter. Institutional investors own 80.99% 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, 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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