Nextera Energy Partners (NYSE:NEP) Coverage Initiated at StockNews.com

Analysts at StockNews.com assumed coverage on shares of Nextera Energy Partners (NYSE:NEP) in a report issued on Wednesday. The firm set a “sell” rating on the stock.

Several other research analysts have also issued reports on NEP. Morgan Stanley restated an “underweight” rating and set a $13.00 target price (down previously from $22.00) on shares of Nextera Energy Partners in a research report on Monday, February 3rd. Barclays cut their price target on Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating on the stock in a research report on Monday, February 3rd.

Nextera Energy Partners Price Performance

The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $983.47 million, a PE ratio of -105.15 and a beta of 1.03.

Institutional Investors Weigh In On Nextera Energy Partners

Several institutional investors have recently modified their holdings of the company. Natural Investments LLC acquired a new position in Nextera Energy Partners in the fourth quarter valued at $504,000. Amundi lifted its stake in shares of Nextera Energy Partners by 90.9% during the fourth quarter. Amundi now owns 414,240 shares of the company’s stock valued at $7,564,000 after buying an additional 197,286 shares during the period. Prescott Group Capital Management L.L.C. purchased a new position in shares of Nextera Energy Partners during the fourth quarter valued at approximately $3,916,000. Finally, Raymond James Financial Inc. acquired a new position in Nextera Energy Partners during the fourth quarter worth approximately $9,163,000. 66.01% of the stock is owned by hedge funds and other institutional investors.

Nextera Energy Partners Company Profile

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 and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.