NextEra Energy Partners (NEP) Coverage Initiated at Guggenheim

Equities research analysts at Guggenheim assumed coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research report issued on Tuesday. The firm set a “buy” rating and a $45.00 price target on the solar energy provider’s stock. Guggenheim’s price target indicates a potential upside of 7.22% from the stock’s current price.

A number of other analysts also recently issued reports on NEP. Zacks Investment Research downgraded shares of NextEra Energy Partners from a “hold” rating to a “sell” rating in a report on Friday, September 29th. Royal Bank of Canada restated a “hold” rating and set a $39.00 price objective on shares of NextEra Energy Partners in a report on Tuesday, October 10th. Credit Suisse Group assumed coverage on shares of NextEra Energy Partners in a report on Thursday, December 7th. They set an “outperform” rating and a $44.00 price objective for the company. JPMorgan Chase & Co. decreased their price objective on shares of NextEra Energy Partners from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Finally, Bank of America restated an “underperform” rating and set a $35.00 price objective on shares of NextEra Energy Partners in a report on Tuesday, October 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $40.38.

Shares of NextEra Energy Partners (NYSE:NEP) traded down $1.34 during mid-day trading on Tuesday, hitting $41.97. 335,600 shares of the stock traded hands, compared to its average volume of 348,350. The stock has a market capitalization of $2,220.00, a P/E ratio of 33.58, a P/E/G ratio of 2.14 and a beta of 1.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20. NextEra Energy Partners has a 52 week low of $25.88 and a 52 week high of $44.24.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Thursday, October 26th. The solar energy provider reported $0.01 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.36). NextEra Energy Partners had a return on equity of 3.57% and a net margin of 10.38%. The company had revenue of $177.00 million for the quarter, compared to analysts’ expectations of $243.16 million. equities research analysts predict that NextEra Energy Partners will post 0.91 earnings per share for the current year.

A number of large investors have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in NextEra Energy Partners by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the solar energy provider’s stock worth $117,000 after purchasing an additional 298 shares during the period. Schroder Investment Management Group boosted its position in NextEra Energy Partners by 3.7% during the second quarter. Schroder Investment Management Group now owns 10,129 shares of the solar energy provider’s stock worth $380,000 after purchasing an additional 366 shares during the period. Roosevelt Investment Group Inc. boosted its position in NextEra Energy Partners by 1.9% during the second quarter. Roosevelt Investment Group Inc. now owns 26,988 shares of the solar energy provider’s stock worth $998,000 after purchasing an additional 500 shares during the period. BNP Paribas Arbitrage SA boosted its position in NextEra Energy Partners by 14.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,800 shares of the solar energy provider’s stock worth $178,000 after purchasing an additional 600 shares during the period. Finally, Northern Trust Corp boosted its position in NextEra Energy Partners by 19.8% during the second quarter. Northern Trust Corp now owns 19,048 shares of the solar energy provider’s stock worth $705,000 after purchasing an additional 3,154 shares during the period. Hedge funds and other institutional investors own 83.49% of the company’s stock.

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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 contracted natural gas pipeline assets.

Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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