NextEra Energy Partners (NYSE:NEP) Price Target Lowered to $30.00 at Evercore ISI

NextEra Energy Partners (NYSE:NEP) had its price objective lowered by stock analysts at Evercore ISI from $32.00 to $30.00 in a research note issued on Thursday, Benzinga reports. The brokerage presently has an “outperform” rating on the solar energy provider’s stock. Evercore ISI’s price objective would suggest a potential upside of 42.18% from the company’s previous close.

A number of other research firms have also issued reports on NEP. BNP Paribas began coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price on the stock. Jefferies Financial Group dropped their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday. Royal Bank of Canada lowered shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price target for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Morgan Stanley downgraded NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Mizuho decreased their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $27.85.

NextEra Energy Partners Trading Up 0.5 %

Shares of NYSE:NEP opened at $21.10 on Thursday. The company has a 50 day moving average of $25.44 and a 200-day moving average of $27.67. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The firm has a market cap of $1.97 billion, a P/E ratio of 6.64 and a beta of 1.06. NextEra Energy Partners has a twelve month low of $20.28 and a twelve month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The firm had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. During the same quarter last year, the company earned $0.57 earnings per share. The business’s revenue for the quarter was up 3.6% on a year-over-year basis. As a group, analysts anticipate that NextEra Energy Partners will post 2.2 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors have recently modified their holdings of the stock. Hexagon Capital Partners LLC increased its stake in shares of NextEra Energy Partners by 208.3% in the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after acquiring an additional 627 shares during the last quarter. Central Pacific Bank Trust Division acquired a new position in NextEra Energy Partners in the 1st quarter worth about $36,000. FinTrust Capital Advisors LLC purchased a new stake in shares of NextEra Energy Partners during the 1st quarter worth about $45,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the last quarter. Finally, Larson Financial Group LLC bought a new stake in shares of NextEra Energy Partners in the 1st quarter valued at approximately $48,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.