NextEra Energy Partners, LP (NYSE:NEP – Get Free Report) gapped down prior to trading on Tuesday . The stock had previously closed at $15.80, but opened at $11.93. NextEra Energy Partners shares last traded at $11.45, with a volume of 4,573,333 shares.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on NEP. Scotiabank decreased their price objective on shares of NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating for the company in a report on Wednesday. Wells Fargo & Company decreased their price target on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. CIBC dropped their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Jefferies Financial Group reduced their price objective on NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, Evercore ISI lowered their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.07.
NextEra Energy Partners Stock Performance
The business’s 50-day moving average price is $17.31 and its 200-day moving average price is $21.76. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The stock has a market cap of $982.53 million, a PE ratio of 4.82 and a beta of 1.06.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last released its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. As a group, equities research analysts expect that NextEra Energy Partners, LP will post 2.06 earnings per share for the current fiscal year.
Hedge Funds Weigh In On NextEra Energy Partners
Several hedge funds have recently modified their holdings of NEP. Marshall Wace LLP acquired a new stake in NextEra Energy Partners in the 2nd quarter worth approximately $638,000. Creative Planning raised its holdings in shares of NextEra Energy Partners by 15.2% in the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after buying an additional 1,490 shares during the last quarter. Northwestern Mutual Wealth Management Co. lifted its stake in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after buying an additional 1,000 shares during the period. B. Riley Wealth Advisors Inc. grew its holdings in shares of NextEra Energy Partners by 40.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock valued at $294,000 after buying an additional 3,064 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in shares of NextEra Energy Partners in the 2nd quarter valued at $418,000. Institutional investors and hedge funds 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.
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