NextEra Energy Partners (NYSE:NEP) Given New $15.00 Price Target at Jefferies Financial Group

NextEra Energy Partners (NYSE:NEP) had its price objective dropped by research analysts at Jefferies Financial Group from $25.00 to $15.00 in a research note issued on Wednesday,Benzinga reports. The firm currently has a “buy” rating on the solar energy provider’s stock. Jefferies Financial Group’s target price would indicate a potential upside of 42.79% from the stock’s current price.

Several other brokerages also recently commented on NEP. Wells Fargo & Company reduced their target price on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a report on Monday, December 2nd. CIBC cut their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays reissued an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a report on Friday, October 4th. Finally, JPMorgan Chase & Co. cut their price objective on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and an average price target of $22.07.

NextEra Energy Partners Stock Performance

Shares of NEP traded down $1.33 during midday trading on Wednesday, reaching $10.51. The stock had a trading volume of 14,747,696 shares, compared to its average volume of 3,914,526. The firm has a 50 day simple moving average of $17.43 and a 200-day simple moving average of $21.84. NextEra Energy Partners has a one year low of $10.32 and a one year high of $35.15. The firm has a market cap of $982.57 million, a PE ratio of 4.82 and a beta of 1.06. 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 earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 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, sell-side analysts anticipate that NextEra Energy Partners will post 2.06 EPS for the current year.

Hedge Funds Weigh In On NextEra Energy Partners

Institutional investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. increased its position in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares in the last quarter. Eastern Bank acquired a new position in NextEra Energy Partners in the 3rd quarter valued at approximately $57,000. McIlrath & Eck LLC acquired a new position in NextEra Energy Partners in the 3rd quarter valued at approximately $63,000. Avion Wealth increased its position in NextEra Energy Partners by 610.2% in the 4th quarter. Avion Wealth now owns 2,642 shares of the solar energy provider’s stock valued at $47,000 after acquiring an additional 2,270 shares during the period. Finally, Central Pacific Bank Trust Division increased its position in NextEra Energy Partners by 153.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after acquiring an additional 3,750 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.