Nextera Energy Partners (NYSE:NEP) was upgraded by analysts at Macquarie from a “neutral” rating to an “outperform” rating in a research report issued to clients and investors on Monday, MarketBeat reports. The firm presently has a $44.00 price objective on the solar energy provider’s stock, down from their previous price objective of $47.00. Macquarie’s price target points to a potential upside of 8.70% from the stock’s current price.
Several other analysts also recently issued reports on NEP. Zacks Investment Research downgraded Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Monday, October 29th. TheStreet downgraded Nextera Energy Partners from a “b-” rating to a “c+” rating in a report on Friday, January 25th. Finally, Bank of America downgraded Nextera Energy Partners from a “buy” rating to a “neutral” rating in a report on Thursday, October 25th. They noted that the move was a valuation call. Six investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Nextera Energy Partners has an average rating of “Hold” and an average price target of $46.39.
NYSE:NEP opened at $40.48 on Monday. The company has a debt-to-equity ratio of 1.00, a quick ratio of 5.54 and a current ratio of 5.54. Nextera Energy Partners has a 52 week low of $36.84 and a 52 week high of $50.66. The company has a market cap of $2.35 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 2.21 and a beta of 0.93.
Nextera Energy Partners (NYSE:NEP) last released its earnings results on Friday, January 25th. The solar energy provider reported ($0.39) EPS for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.88). Nextera Energy Partners had a return on equity of 5.46% and a net margin of 23.25%. The firm had revenue of $155.00 million for the quarter, compared to the consensus estimate of $276.40 million. During the same period in the prior year, the business earned $0.18 EPS. On average, research analysts forecast that Nextera Energy Partners will post 2.11 earnings per share for the current fiscal year.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Cypress Capital Management LLC WY acquired a new stake in Nextera Energy Partners in the 4th quarter valued at approximately $51,000. IFP Advisors Inc increased its position in Nextera Energy Partners by 42.0% in the 4th quarter. IFP Advisors Inc now owns 2,288 shares of the solar energy provider’s stock valued at $95,000 after acquiring an additional 677 shares during the period. SG Americas Securities LLC acquired a new stake in Nextera Energy Partners in the 4th quarter valued at approximately $105,000. ETF Managers Group LLC increased its position in Nextera Energy Partners by 17.5% in the 4th quarter. ETF Managers Group LLC now owns 3,308 shares of the solar energy provider’s stock valued at $142,000 after acquiring an additional 492 shares during the period. Finally, James Investment Research Inc. acquired a new stake in Nextera Energy Partners in the 3rd quarter valued at approximately $151,000. 82.30% of the stock is currently owned by institutional investors and hedge funds.
Nextera Energy Partners Company Profile
NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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