Morgan Stanley Boosts NextEra Energy Partners (NYSE:NEP) Price Target to $79.00


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NextEra Energy Partners (NYSE:NEP) had its price objective boosted by analysts at Morgan Stanley from $60.00 to $79.00 in a report released on Tuesday, Analyst Ratings Network reports. The brokerage currently has an “equal weight” rating on the solar energy provider’s stock. Morgan Stanley’s price objective would suggest a potential downside of 3.16% from the stock’s previous close.

A number of other brokerages also recently commented on NEP. Wells Fargo & Company raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $68.00 to $73.00 in a research report on Tuesday, September 15th. Vertical Research raised shares of NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $72.00 price objective on the stock in a research report on Friday, October 16th. Raymond James increased their price objective on shares of NextEra Energy Partners from $73.00 to $82.00 and gave the company an “outperform” rating in a research report on Friday, January 8th. Zacks Investment Research downgraded shares of NextEra Energy Partners from a “hold” rating to a “strong sell” rating and set a $57.00 target price on the stock. in a research report on Tuesday, January 5th. Finally, Credit Suisse Group increased their target price on shares of NextEra Energy Partners from $60.00 to $69.00 and gave the company an “outperform” rating in a research report on Monday, October 19th. One analyst has rated the stock with a sell rating, three have given a hold rating and eleven have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $67.69.

Shares of NYSE:NEP opened at $81.58 on Tuesday. NextEra Energy Partners has a 52 week low of $29.01 and a 52 week high of $83.55. The company’s 50 day moving average is $67.18 and its two-hundred day moving average is $62.40. The company has a current ratio of 1.32, a quick ratio of 1.25 and a debt-to-equity ratio of 0.59. The company has a market cap of $5.96 billion, a PE ratio of -56.65 and a beta of 0.79.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, October 21st. The solar energy provider reported $0.76 EPS for the quarter, beating the Zacks’ consensus estimate of $0.62 by $0.14. The firm had revenue of $240.00 million during the quarter, compared to analysts’ expectations of $330.08 million. During the same period in the prior year, the company posted $2.39 earnings per share. As a group, equities research analysts expect that NextEra Energy Partners will post -1.17 EPS for the current year.

A number of large investors have recently modified their holdings of NEP. FinTrust Capital Advisors LLC acquired a new stake in NextEra Energy Partners during the 3rd quarter worth $26,000. Jeppson Wealth Management LLC acquired a new stake in NextEra Energy Partners during the 3rd quarter worth $29,000. Bartlett & Co. LLC boosted its stake in NextEra Energy Partners by 166.7% during the 3rd quarter. Bartlett & Co. LLC now owns 800 shares of the solar energy provider’s stock worth $48,000 after purchasing an additional 500 shares during the period. Essex Investment Management Co. LLC boosted its stake in NextEra Energy Partners by 404.8% during the 3rd quarter. Essex Investment Management Co. LLC now owns 833 shares of the solar energy provider’s stock worth $50,000 after purchasing an additional 668 shares during the period. Finally, South State CORP. acquired a new stake in NextEra Energy Partners during the 3rd quarter worth $60,000. Hedge funds and other institutional investors own 66.98% of the company’s stock.

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 and solar projects, as well as contracted natural gas pipeline assets. The company was founded in 2014 and is headquartered in Juno Beach, Florida.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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