NextEra Energy Partners (NYSE:NEP) PT Lowered to $45.00

NextEra Energy Partners (NYSE:NEP) had its price target reduced by Raymond James from $50.00 to $45.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has an “outperform” rating on the solar energy provider’s stock. Raymond James’ price target would indicate a potential upside of 55.82% from the company’s current price.

Several other research firms have also commented on NEP. CIBC lowered shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price target for the company. in a research report on Tuesday, January 9th. JPMorgan Chase & Co. upped their price target on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. Evercore ISI assumed coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target for the company. Guggenheim lowered their price target on shares of NextEra Energy Partners from $42.00 to $37.00 and set a “buy” rating for the company in a research report on Wednesday, December 6th. Finally, Mizuho lowered their price target on shares of NextEra Energy Partners from $40.00 to $33.00 and set a “buy” rating for the company in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $46.38.

NextEra Energy Partners Stock Performance

NEP stock traded down $0.31 during trading on Wednesday, hitting $28.88. 527,254 shares of the company’s stock traded hands, compared to its average volume of 1,378,397. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $64.43. The stock has a fifty day moving average price of $28.49 and a two-hundred day moving average price of $28.25. The stock has a market capitalization of $2.70 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 2.13 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.38). The firm had revenue of $232.00 million for the quarter, compared to the consensus estimate of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. As a group, equities analysts anticipate that NextEra Energy Partners will post 0.94 EPS for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors and hedge funds have recently bought and sold shares of NEP. Beacon Pointe Advisors LLC lifted its stake in NextEra Energy Partners by 2.9% during the first quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider’s stock valued at $594,000 after buying an additional 200 shares in the last quarter. Parkside Financial Bank & Trust lifted its stake in NextEra Energy Partners by 40.1% during the second quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider’s stock valued at $44,000 after buying an additional 216 shares in the last quarter. Lazard Asset Management LLC lifted its stake in NextEra Energy Partners by 69.6% during the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider’s stock valued at $45,000 after buying an additional 224 shares in the last quarter. State of Wyoming lifted its stake in NextEra Energy Partners by 28.2% during the second quarter. State of Wyoming now owns 1,137 shares of the solar energy provider’s stock valued at $67,000 after buying an additional 250 shares in the last quarter. Finally, Vident Investment Advisory LLC lifted its stake in NextEra Energy Partners by 6.7% during the fourth quarter. Vident Investment Advisory LLC now owns 4,547 shares of the solar energy provider’s stock valued at $319,000 after buying an additional 285 shares in the last quarter. 66.01% of the stock is owned by institutional investors and hedge funds.

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. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.