NextEra Energy Partners (NYSE:NEP) PT Lowered to $86.00

NextEra Energy Partners (NYSE:NEPGet Rating) had its price target lowered by Morgan Stanley from $88.00 to $86.00 in a report issued on Monday, Benzinga reports. The firm currently has an equal weight rating on the solar energy provider’s stock.

NEP has been the subject of several other research reports. KeyCorp cut their target price on NextEra Energy Partners from $89.00 to $83.00 and set an overweight rating for the company in a research note on Thursday, October 20th. Credit Suisse Group cut their target price on NextEra Energy Partners from $90.00 to $87.00 and set an outperform rating for the company in a research note on Wednesday, November 2nd. Wells Fargo & Company dropped their price objective on NextEra Energy Partners from $93.00 to $90.00 and set an overweight rating for the company in a research note on Wednesday, October 19th. StockNews.com initiated coverage on NextEra Energy Partners in a research note on Wednesday, October 12th. They issued a hold rating for the company. Finally, Raymond James raised NextEra Energy Partners from an underperform rating to a market perform rating in a research note on Wednesday, January 4th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners currently has a consensus rating of Hold and an average price target of $84.67.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $74.22 on Monday. NextEra Energy Partners has a one year low of $61.31 and a one year high of $86.06. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.80 and a current ratio of 1.91. The stock has a market cap of $6.42 billion, a PE ratio of 14.44, a P/E/G ratio of 2.48 and a beta of 0.92. The stock has a 50 day moving average price of $75.29 and a 200 day moving average price of $77.13.

NextEra Energy Partners (NYSE:NEPGet Rating) last posted its quarterly earnings results on Friday, October 28th. The solar energy provider reported $0.93 EPS for the quarter, beating the consensus estimate of $0.63 by $0.30. NextEra Energy Partners had a return on equity of 3.71% and a net margin of 36.70%. The firm had revenue of $302.00 million during the quarter, compared to analysts’ expectations of $394.15 million. Equities research analysts expect that NextEra Energy Partners will post 5.76 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of NextEra Energy Partners by 4.9% during the first quarter. BlackRock Inc. now owns 7,609,845 shares of the solar energy provider’s stock worth $634,357,000 after purchasing an additional 356,265 shares in the last quarter. ClearBridge Investments Ltd increased its position in shares of NextEra Energy Partners by 46.7% during the second quarter. ClearBridge Investments Ltd now owns 2,260,173 shares of the solar energy provider’s stock worth $167,614,000 after purchasing an additional 719,028 shares in the last quarter. Price T Rowe Associates Inc. MD increased its position in shares of NextEra Energy Partners by 0.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 2,188,292 shares of the solar energy provider’s stock worth $162,284,000 after purchasing an additional 16,707 shares in the last quarter. Tortoise Capital Advisors L.L.C. increased its position in shares of NextEra Energy Partners by 1.3% during the third quarter. Tortoise Capital Advisors L.L.C. now owns 1,765,352 shares of the solar energy provider’s stock worth $127,652,000 after purchasing an additional 22,380 shares in the last quarter. Finally, Pictet Asset Management SA increased its position in shares of NextEra Energy Partners by 7.2% during the second quarter. Pictet Asset Management SA now owns 1,564,754 shares of the solar energy provider’s stock worth $116,042,000 after purchasing an additional 105,454 shares in the last quarter. Institutional investors and hedge funds own 83.05% of the company’s stock.

NextEra Energy Partners Company Profile

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NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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