According to Zacks, “NextEra Energy Partners, LP engages in owning, operating and acquiring contracted clean energy projects. It owns interests in wind and solar projects primarily in North America. The Company’s initial Portfolio consists of Northern Colorado, Elk City, Moore, Sombra, Perrin Ranch, Conestogo, Tuscola Bay, Summerhaven, and Genesis. NextEra Energy Partners, LP is headquartered in Juno Beach, Florida. “
A number of other research firms have also weighed in on NEP. Oppenheimer Holdings Inc. started coverage on shares of NextEra Energy Partners in a research report on Thursday, September 8th. They set an outperform rating and a $34.00 price target on the stock. Avondale Partners lowered shares of NextEra Energy Partners from an outperform rating to a market perform rating in a research report on Thursday, July 28th. Finally, Barclays PLC reissued a buy rating and set a $34.00 price target on shares of NextEra Energy Partners in a research report on Monday, September 12th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $31.30.
NextEra Energy Partners (NYSE:NEP) opened at 27.21 on Wednesday. The firm’s 50 day moving average is $29.44 and its 200-day moving average is $28.98. The firm has a market cap of $1.15 billion, a price-to-earnings ratio of 46.20 and a beta of 1.34. NextEra Energy Partners has a 12 month low of $22.25 and a 12 month high of $32.42.
NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 27th. The company reported $0.19 earnings per share for the quarter, missing analysts’ consensus estimates of $0.33 by $0.14. NextEra Energy Partners had a net margin of 3.28% and a return on equity of 1.12%. The firm had revenue of $171 million for the quarter, compared to the consensus estimate of $195.70 million. During the same period in the previous year, the business earned $0.16 earnings per share. On average, equities analysts forecast that NextEra Energy Partners will post $1.05 EPS for the current year.
Hedge funds have recently bought and sold shares of the stock. Beach Investment Counsel Inc. PA raised its stake in NextEra Energy Partners by 15.3% in the second quarter. Beach Investment Counsel Inc. PA now owns 1,174,851 shares of the company’s stock valued at $35,692,000 after buying an additional 155,868 shares during the period. Cohen & Steers Inc. raised its stake in NextEra Energy Partners by 16.2% in the second quarter. Cohen & Steers Inc. now owns 765,356 shares of the company’s stock valued at $23,252,000 after buying an additional 106,888 shares during the period. Cubist Systematic Strategies LLC raised its stake in NextEra Energy Partners by 1.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,304 shares of the company’s stock valued at $100,000 after buying an additional 32 shares during the period. Passport Capital LLC raised its stake in NextEra Energy Partners by 60.7% in the second quarter. Passport Capital LLC now owns 964,089 shares of the company’s stock valued at $29,289,000 after buying an additional 364,089 shares during the period. Finally, Marshall Wace LLP raised its stake in NextEra Energy Partners by 425.9% in the second quarter. Marshall Wace LLP now owns 203,703 shares of the company’s stock valued at $6,188,000 after buying an additional 164,969 shares during the period. 68.24% of the stock is currently owned by institutional investors.
NextEra Energy Partners Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as approximately seven contracted natural gas pipeline assets.
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