NextEra Energy Partners (NYSE:NEP) Rating Reiterated by Barclays

NextEra Energy Partners (NYSE:NEP)‘s stock had its “underweight” rating reiterated by research analysts at Barclays in a report released on Friday, Benzinga reports. They presently have a $25.00 price target on the solar energy provider’s stock. Barclays‘s target price points to a potential downside of 4.07% from the company’s current price.

Several other analysts have also recently commented on the stock. Jefferies Financial Group began coverage on shares of NextEra Energy Partners in a research note on Thursday, September 19th. They issued a “buy” rating and a $28.00 target price for the company. BNP Paribas began coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price on the stock. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Finally, Royal Bank of Canada cut NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and cut their price objective for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Five analysts have rated the stock with a sell rating, eight have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and a consensus price target of $30.08.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $26.06 on Friday. The stock’s 50-day moving average price is $25.62 and its 200 day moving average price is $28.10. 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 stock has a market capitalization of $2.44 billion, a PE ratio of 8.54 and a beta of 1.06. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. During the same quarter in the previous year, the company posted $0.53 earnings per share. The company’s revenue for the quarter was up 22.9% compared to the same quarter last year. As a group, equities research analysts forecast that NextEra Energy Partners will post 2.2 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Richardson Financial Services Inc. acquired a new stake in NextEra Energy Partners during the 4th quarter valued at $27,000. Hexagon Capital Partners LLC raised its stake in NextEra Energy Partners by 208.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in NextEra Energy Partners in the 1st quarter valued at about $36,000. FinTrust Capital Advisors LLC acquired a new stake in shares of NextEra Energy Partners during the 1st quarter worth about $45,000. Finally, Northwestern Mutual Wealth Management Co. grew its holdings 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 buying an additional 1,000 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.