NextEra Energy Partners Target of Unusually Large Options Trading (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) saw some unusual options trading activity on Wednesday. Stock traders bought 23,538 put options on the stock. This is an increase of approximately 388% compared to the typical daily volume of 4,826 put options.

NextEra Energy Partners Stock Down 11.3 %

NYSE NEP traded down $1.34 during trading hours on Wednesday, reaching $10.50. 7,663,293 shares of the company’s stock traded hands, compared to its average volume of 3,479,478. NextEra Energy Partners has a 52-week low of $10.48 and a 52-week high of $35.15. The firm has a market cap of $981.64 million, a PE ratio of 4.82 and a beta of 1.06. The firm has a 50-day simple moving average of $17.43 and a 200 day simple moving average of $21.84. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (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%. Sell-side analysts anticipate that NextEra Energy Partners will post 2.06 EPS for the current fiscal year.

Analyst Ratings Changes

NEP has been the topic of several recent research reports. CIBC reduced their target price on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. BMO Capital Markets reaffirmed a “market perform” rating and set a $18.00 target price (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. JPMorgan Chase & Co. cut their price target on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Mizuho cut their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Finally, Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price target on the stock in a report on Monday, December 2nd. Three 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. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $22.87.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. grew its stake in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares during the period. Eastern Bank bought a new stake in shares of NextEra Energy Partners in the third quarter worth approximately $57,000. McIlrath & Eck LLC bought a new stake in shares of NextEra Energy Partners in the third quarter worth approximately $63,000. Central Pacific Bank Trust Division grew its stake in shares of NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after acquiring an additional 3,750 shares during the period. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of NextEra Energy Partners in the 3rd quarter worth $173,000. 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.