Barclays Begins Coverage on NextEra Energy Partners (NYSE:NEP)

Equities researchers at Barclays began coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research note issued to investors on Wednesday, Briefing.com reports. The firm set an “equal weight” rating and a $32.00 price target on the solar energy provider’s stock. Barclays‘s price objective would indicate a potential upside of 5.40% from the company’s current price.

Several other equities research analysts have also recently commented on the stock. Raymond James dropped their target price on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, April 3rd. Mizuho dropped their target price 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. Evercore ISI began coverage on shares of NextEra Energy Partners in a research report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 target price for the company. Marathon Capitl reaffirmed an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Finally, CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 target price for the company. in a research report on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company. According to data from MarketBeat, NextEra Energy Partners has an average rating of “Hold” and a consensus target price of $45.53.

NextEra Energy Partners Price Performance

NEP stock opened at $30.36 on Wednesday. The firm has a market cap of $2.84 billion, a P/E ratio of 14.25 and a beta of 1.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33. The firm’s fifty day moving average is $28.54 and its 200 day moving average is $27.56. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $64.43.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Thursday, January 25th. The solar energy provider reported ($0.35) earnings per share 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 analysts’ expectations of $360.03 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. Research analysts predict that NextEra Energy Partners will post 0.9 earnings per share for the current year.

Hedge Funds Weigh In On NextEra Energy Partners

Several large investors have recently added to or reduced their stakes in NEP. Bank of New York Mellon Corp lifted its holdings in shares of NextEra Energy Partners by 31.0% in the third quarter. Bank of New York Mellon Corp now owns 1,044,197 shares of the solar energy provider’s stock worth $31,013,000 after buying an additional 246,908 shares in the last quarter. Tudor Investment Corp Et Al lifted its holdings in shares of NextEra Energy Partners by 477.2% in the third quarter. Tudor Investment Corp Et Al now owns 238,288 shares of the solar energy provider’s stock worth $7,077,000 after buying an additional 197,002 shares in the last quarter. EP Wealth Advisors LLC lifted its holdings in shares of NextEra Energy Partners by 1,557.8% in the third quarter. EP Wealth Advisors LLC now owns 319,287 shares of the solar energy provider’s stock worth $9,483,000 after buying an additional 300,027 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of NextEra Energy Partners by 14.1% in the third quarter. HighTower Advisors LLC now owns 839,956 shares of the solar energy provider’s stock worth $24,911,000 after buying an additional 104,055 shares in the last quarter. Finally, Lavaca Capital LLC lifted its holdings in shares of NextEra Energy Partners by 144.4% in the third quarter. Lavaca Capital LLC now owns 37,400 shares of the solar energy provider’s stock worth $1,111,000 after buying an additional 22,100 shares in the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

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.