NextEra Energy Partners (NYSE:NEP) Rating Reiterated by Oppenheimer

NextEra Energy Partners (NYSE:NEP)‘s stock had its “market perform” rating reaffirmed by stock analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports.

A number of other research firms have also recently weighed in on NEP. JPMorgan Chase & Co. boosted their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a research report on Friday, January 26th. Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price objective on the stock. CIBC cut shares of NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective on the stock. in a research report on Tuesday, January 9th. Raymond James cut their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, April 3rd. Finally, Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. One analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners currently has an average rating of “Hold” and an average target price of $43.88.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $29.17 on Wednesday. The company has a market cap of $2.73 billion, a price-to-earnings ratio of 9.56 and a beta of 1.00. The firm’s fifty day moving average is $28.31 and its 200 day moving average is $27.36. The company has a quick ratio of 1.28, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $63.89.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.12 by $0.63. The company had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. NextEra Energy Partners’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($0.17) earnings per share. Sell-side analysts forecast that NextEra Energy Partners will post 0.86 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

Hedge funds have recently added to or reduced their stakes in the business. CWM LLC lifted its stake in NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after acquiring an additional 511 shares during the period. Richardson Financial Services Inc. purchased a new stake in NextEra Energy Partners in the fourth quarter worth about $27,000. Hexagon Capital Partners LLC lifted its stake in NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after acquiring an additional 627 shares during the period. MV Capital Management Inc. purchased a new stake in NextEra Energy Partners in the fourth quarter worth about $30,000. Finally, Heritage Wealth Advisors purchased a new stake in NextEra Energy Partners in the fourth quarter worth about $33,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.