NextEra Energy Partners (NYSE:NEP) Raised to Neutral at JPMorgan Chase & Co.

NextEra Energy Partners (NYSE:NEP) was upgraded by research analysts at JPMorgan Chase & Co. from an “underweight” rating to a “neutral” rating in a research note issued on Thursday, MarketBeat Ratings reports. The firm presently has a $22.00 target price on the solar energy provider’s stock, down from their prior target price of $25.00. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 4.71% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the stock. UBS Group dropped their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Monday, September 30th. CIBC reduced their price target on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating for the company in a research report on Tuesday. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Mizuho decreased their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Finally, Barclays reaffirmed an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $28.92.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $21.01 on Thursday. The company has a 50 day simple moving average of $25.61 and a two-hundred day simple moving average of $27.77. NextEra Energy Partners has a fifty-two week low of $20.82 and a fifty-two week high of $35.15. The company has a market capitalization of $1.97 billion, a price-to-earnings ratio of 6.89 and a beta of 1.06. The company has a debt-to-equity ratio of 0.36, a quick ratio of 1.22 and a current ratio of 1.30.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data 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 during the quarter, compared to analysts’ expectations of $365.54 million. During the same quarter in the previous year, the business earned $0.53 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. Analysts expect that NextEra Energy Partners will post 2.2 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Ameritas Advisory Services LLC grew its position in shares of NextEra Energy Partners by 1.4% during the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock valued at $807,000 after acquiring an additional 412 shares during the period. Brown Miller Wealth Management LLC increased its position in NextEra Energy Partners by 2.4% in the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock worth $509,000 after buying an additional 433 shares in the last quarter. Pathway Financial Advisers LLC raised its stake in shares of NextEra Energy Partners by 0.9% in the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after buying an additional 454 shares during the period. Arizona State Retirement System raised its stake in shares of NextEra Energy Partners by 2.0% in the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock worth $724,000 after buying an additional 509 shares during the period. Finally, Jaffetilchin Investment Partners LLC lifted its position in shares of NextEra Energy Partners by 4.6% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock valued at $362,000 after buying an additional 581 shares in the last quarter. 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.