NextEra Energy Partners (NYSE:NEP) Raised to “Overweight” at Morgan Stanley

NextEra Energy Partners (NYSE:NEP) was upgraded by investment analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued on Monday,Briefing.com Automated Import reports.

NEP has been the subject of several other research reports. UBS Group reduced their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Evercore ISI cut their price objective 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. BNP Paribas assumed coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price target on the stock. Jefferies Financial Group reduced their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Finally, CIBC lowered their price target on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday, October 22nd. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $26.69.

NextEra Energy Partners Stock Up 7.2 %

NextEra Energy Partners stock traded up $1.26 during mid-day trading on Monday, hitting $18.73. The company had a trading volume of 583,043 shares, compared to its average volume of 1,570,133. NextEra Energy Partners has a 12 month low of $15.55 and a 12 month high of $35.15. The company has a market capitalization of $1.75 billion, a PE ratio of 8.59 and a beta of 1.10. The stock’s 50 day moving average price is $21.67 and its two-hundred day moving average price is $25.59. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). The firm had revenue of $319.00 million during the quarter, compared to the consensus estimate of $332.25 million. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.57 EPS. As a group, sell-side analysts anticipate that NextEra Energy Partners will post 1.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors have recently added to or reduced their stakes in NEP. Thrivent Financial for Lutherans acquired a new stake in shares of NextEra Energy Partners during the third quarter worth $16,186,000. Two Sigma Advisers LP acquired a new stake in NextEra Energy Partners during the third quarter valued at $15,310,000. M&G PLC increased its stake in shares of NextEra Energy Partners by 19.3% in the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after purchasing an additional 496,383 shares in the last quarter. Fred Alger Management LLC purchased a new stake in shares of NextEra Energy Partners in the second quarter valued at approximately $5,452,000. Finally, Redwood Grove Capital LLC raised its position in NextEra Energy Partners by 19.7% during the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after acquiring an additional 161,436 shares during the period. Institutional investors 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.