NextEra Energy Partners (NYSE:NEP) Price Target Cut to $26.00

NextEra Energy Partners (NYSE:NEP) had its price objective lowered by equities research analysts at BMO Capital Markets from $28.00 to $26.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage currently has an “outperform” rating on the solar energy provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 0.54% from the stock’s previous close.

Other research analysts also recently issued reports about the stock. UBS Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Monday, September 30th. Morgan Stanley cut NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Barclays reissued an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research report on Friday, October 4th. StockNews.com raised NextEra Energy Partners to a “sell” rating in a research report on Thursday, July 25th. Finally, Mizuho decreased their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $29.38.

NextEra Energy Partners Stock Down 0.2 %

NextEra Energy Partners stock traded down $0.05 during midday trading on Monday, reaching $26.14. The company’s stock had a trading volume of 66,882 shares, compared to its average volume of 1,388,586. The company has a market cap of $2.45 billion, a P/E ratio of 8.57 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The business has a 50-day simple moving average of $25.67 and a 200-day simple moving average of $27.88. NextEra Energy Partners has a fifty-two week low of $21.83 and a fifty-two week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm’s revenue was up 22.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.53 earnings per share. On average, research analysts expect that NextEra Energy Partners will post 2.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in NEP. Ameritas Advisory Services LLC boosted its position in shares of NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after purchasing an additional 412 shares in the last quarter. Brown Miller Wealth Management LLC boosted its stake in shares of NextEra Energy Partners by 2.4% during the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after acquiring an additional 433 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of NextEra Energy Partners by 0.9% during the 2nd quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after acquiring an additional 454 shares in the last quarter. Arizona State Retirement System grew its holdings in shares of NextEra Energy Partners by 2.0% in the 2nd quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after acquiring an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC increased its stake in NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock valued at $362,000 after purchasing an additional 581 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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, 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.