NextEra Energy Partners (NYSE:NEP) Upgraded at Royal Bank of Canada

NextEra Energy Partners (NYSE:NEPGet Rating) was upgraded by equities research analysts at Royal Bank of Canada to an “outperform” rating in a report released on Friday, The Fly reports.

Other research analysts have also recently issued reports about the company. Raymond James cut NextEra Energy Partners from a “market perform” rating to an “underperform” rating in a report on Tuesday, April 5th. StockNews.com upgraded NextEra Energy Partners from a “sell” rating to a “hold” rating in a research note on Sunday, April 3rd. KeyCorp decreased their price target on NextEra Energy Partners from $89.00 to $83.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 20th. Credit Suisse Group cut their price objective on NextEra Energy Partners from $78.00 to $74.00 and set an “outperform” rating on the stock in a research report on Wednesday. Finally, Morgan Stanley cut their price objective on NextEra Energy Partners from $93.00 to $86.00 and set an “equal weight” rating on the stock in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and five have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $85.86.

NEP stock opened at $67.20 on Friday. The company has a debt-to-equity ratio of 0.48, a current ratio of 1.60 and a quick ratio of 1.55. The business has a 50 day simple moving average of $70.78 and a 200-day simple moving average of $76.24. The firm has a market capitalization of $5.64 billion, a PE ratio of 77.24, a price-to-earnings-growth ratio of 2.73 and a beta of 0.92. NextEra Energy Partners has a 1 year low of $61.31 and a 1 year high of $88.80.

NextEra Energy Partners (NYSE:NEPGet Rating) last released its quarterly earnings data on Thursday, April 21st. The solar energy provider reported $1.72 EPS for the quarter, beating analysts’ consensus estimates of $0.42 by $1.30. NextEra Energy Partners had a return on equity of 1.58% and a net margin of 15.13%. The firm had revenue of $281.00 million for the quarter, compared to analysts’ expectations of $305.98 million. During the same period in the prior year, the firm posted $2.66 earnings per share. The firm’s quarterly revenue was up 14.2% on a year-over-year basis. On average, equities research analysts expect that NextEra Energy Partners will post 2.62 EPS for the current year.

Several hedge funds have recently modified their holdings of NEP. First Trust Advisors LP grew its holdings in shares of NextEra Energy Partners by 4.0% during the first quarter. First Trust Advisors LP now owns 54,619 shares of the solar energy provider’s stock worth $2,547,000 after purchasing an additional 2,079 shares during the last quarter. BlackRock Inc. boosted its stake in shares of NextEra Energy Partners by 0.6% during the third quarter. BlackRock Inc. now owns 212,672 shares of the solar energy provider’s stock worth $16,027,000 after buying an additional 1,170 shares during the period. Morgan Stanley boosted its stake in shares of NextEra Energy Partners by 8.2% during the third quarter. Morgan Stanley now owns 774,825 shares of the solar energy provider’s stock worth $58,391,000 after buying an additional 58,885 shares during the period. California State Teachers Retirement System acquired a new stake in shares of NextEra Energy Partners during the third quarter worth about $4,681,000. Finally, Cubist Systematic Strategies LLC boosted its stake in shares of NextEra Energy Partners by 306.3% during the third quarter. Cubist Systematic Strategies LLC now owns 17,486 shares of the solar energy provider’s stock worth $1,318,000 after buying an additional 13,182 shares during the period. 81.32% of the stock is currently owned by institutional investors.

NextEra Energy Partners Company Profile (Get Rating)

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 and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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