NextEra Energy Partners (NYSE:NEP) Price Target Lowered to $12.00 at Scotiabank

NextEra Energy Partners (NYSE:NEP) had its price target lowered by analysts at Scotiabank from $15.00 to $12.00 in a report issued on Wednesday,Benzinga reports. The brokerage presently has a “sector perform” rating on the solar energy provider’s stock. Scotiabank’s target price points to a potential upside of 15.11% from the stock’s previous close.

Several other analysts also recently commented on NEP. Wells Fargo & Company cut their price objective on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Guggenheim downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and reduced their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a report on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 price objective for the company. CIBC dropped their price objective on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, Evercore ISI decreased their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $22.07.

NextEra Energy Partners Stock Down 0.6 %

Shares of NYSE:NEP opened at $10.43 on Wednesday. The firm has a market capitalization of $975.05 million, a P/E ratio of 4.78 and a beta of 1.06. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The stock has a 50 day moving average price of $17.20 and a 200-day moving average price of $21.68. NextEra Energy Partners has a 52-week low of $9.98 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data 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, equities research analysts anticipate that NextEra Energy Partners will post 2.06 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP purchased a new stake in shares of NextEra Energy Partners during the second quarter worth about $638,000. Creative Planning lifted its holdings in shares of NextEra Energy Partners by 15.2% in the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after buying an additional 1,490 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of NextEra Energy Partners by 150.4% during 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 last quarter. B. Riley Wealth Advisors Inc. grew its stake in NextEra Energy Partners by 40.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock valued at $294,000 after acquiring an additional 3,064 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in NextEra Energy Partners in the 2nd quarter valued at $418,000. Institutional investors own 66.01% of the company’s stock.

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.