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

NextEra Energy Partners (NYSE:NEP) had its price objective lowered by analysts at Evercore ISI from $32.00 to $30.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the solar energy provider’s stock. Evercore ISI’s price target points to a potential upside of 43.61% from the company’s current price.

NEP has been the subject of a number of other reports. Royal Bank of Canada lowered NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and lowered their price target for the company from $38.00 to $30.00 in a research report on Monday, July 1st. CIBC cut their price target on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a report on Tuesday. Jefferies Financial Group cut their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research note on Thursday. Mizuho reduced their price objective on shares of 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, BMO Capital Markets reduced their target price on NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating for the company in a report on Monday. Four analysts have rated the stock with a sell rating, nine have given a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $27.85.

NextEra Energy Partners Stock Down 0.6 %

Shares of NEP traded down $0.12 during trading hours on Thursday, reaching $20.89. The stock had a trading volume of 1,869,782 shares, compared to its average volume of 1,439,101. 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 50-day simple moving average of $25.61 and a 200 day simple moving average of $27.77. NextEra Energy Partners has a 12 month low of $20.63 and a 12 month high of $35.15. The company has a market capitalization of $1.95 billion, a price-to-earnings ratio of 6.86 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last posted 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). The business had revenue of $319.00 million during the quarter, compared to analyst estimates of $332.25 million. NextEra Energy Partners had a negative return on equity of 0.40% and a net margin of 24.42%. The company’s revenue was up 3.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.57 EPS. Equities research analysts predict that NextEra Energy Partners will post 2.2 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of NEP. Hexagon Capital Partners LLC grew its holdings in shares of NextEra Energy Partners by 208.3% during the 1st 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 period. Central Pacific Bank Trust Division purchased a new stake in shares of NextEra Energy Partners in the 1st quarter worth approximately $36,000. FinTrust Capital Advisors LLC bought a new position in NextEra Energy Partners during the 1st quarter valued at approximately $45,000. Northwestern Mutual Wealth Management Co. boosted its holdings in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Larson Financial Group LLC purchased a new stake in shares of NextEra Energy Partners in the first quarter worth $48,000. Hedge funds and other institutional investors 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.