Analysts Set Nextera Energy Partners LP (NEP) PT at $42.03

Nextera Energy Partners LP (NYSE:NEP) has earned an average recommendation of “Buy” from the sixteen ratings firms that are presently covering the company, Marketbeat reports. Four research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued ratings on the stock in the last year is $42.03.

Several research firms recently issued reports on NEP. ValuEngine upgraded shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. Bank of America upgraded shares of Nextera Energy Partners from an “underperform” rating to a “buy” rating and increased their price target for the stock from $39.12 to $43.00 in a research report on Friday, March 16th. Zacks Investment Research upgraded shares of Nextera Energy Partners from a “sell” rating to a “hold” rating in a research report on Saturday, March 3rd. Guggenheim began coverage on shares of Nextera Energy Partners in a research report on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 target price on the stock. Finally, Morgan Stanley upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 target price on the stock in a research report on Tuesday, December 12th.

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Shares of NYSE NEP traded up $0.54 during trading hours on Wednesday, hitting $40.01. 27,974 shares of the stock were exchanged, compared to its average volume of 281,894. The company has a current ratio of 1.44, a quick ratio of 1.44 and a debt-to-equity ratio of 2.54. The firm has a market capitalization of $2,141.29, a price-to-earnings ratio of 60.91, a P/E/G ratio of 1.78 and a beta of 1.20. Nextera Energy Partners has a 1-year low of $31.78 and a 1-year high of $45.38.

Nextera Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Friday, January 26th. The solar energy provider reported $0.19 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.26 by ($0.07). The firm had revenue of $197.00 million for the quarter, compared to analyst estimates of $251.41 million. Nextera Energy Partners had a positive return on equity of 1.80% and a negative net margin of 8.63%. During the same quarter in the prior year, the business posted ($0.23) EPS. equities research analysts forecast that Nextera Energy Partners will post 1.97 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of NEP. Teachers Advisors LLC raised its stake in shares of Nextera Energy Partners by 181.3% during the fourth quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock valued at $119,000 after acquiring an additional 1,777 shares during the last quarter. Swiss National Bank raised its stake in shares of Nextera Energy Partners by 2.2% during the fourth quarter. Swiss National Bank now owns 91,400 shares of the solar energy provider’s stock valued at $3,940,000 after acquiring an additional 2,000 shares during the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of Nextera Energy Partners during the fourth quarter valued at $105,000. MAI Capital Management raised its stake in shares of Nextera Energy Partners by 3.4% during the fourth quarter. MAI Capital Management now owns 85,447 shares of the solar energy provider’s stock valued at $3,684,000 after acquiring an additional 2,807 shares during the last quarter. Finally, Northern Trust Corp raised its stake in shares of 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 valued at $705,000 after acquiring an additional 3,154 shares during the last quarter. Hedge funds and other institutional investors own 83.23% of the company’s stock.

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About Nextera Energy Partners

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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