NextEra Energy Partners (NYSE:NEP) Given New $15.00 Price Target at Jefferies Financial Group

NextEra Energy Partners (NYSE:NEP) had its price target decreased by equities researchers at Jefferies Financial Group from $25.00 to $15.00 in a report released on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the solar energy provider’s stock. Jefferies Financial Group’s target price points to a potential upside of 42.79% from the stock’s current price.

Several other research analysts have also issued reports on NEP. Guggenheim cut their target price on shares of NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating on the stock in a research note on Wednesday. JPMorgan Chase & Co. cut their target price on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Evercore ISI cut their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research note on Thursday, October 24th. BMO Capital Markets reissued a “market perform” rating and set a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Finally, Scotiabank cut their target price on shares of NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, NextEra Energy Partners currently has a consensus rating of “Hold” and a consensus price target of $22.07.

NextEra Energy Partners Trading Down 11.2 %

Shares of NYSE:NEP traded down $1.33 during trading on Wednesday, reaching $10.51. The stock had a trading volume of 14,747,696 shares, compared to its average volume of 3,914,526. The firm’s fifty day moving average is $17.43 and its 200 day moving average is $21.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. NextEra Energy Partners has a 52 week low of $10.32 and a 52 week high of $35.15. The stock has a market cap of $982.57 million, a price-to-earnings ratio of 4.82 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. As a group, equities analysts forecast that NextEra Energy Partners will post 2.06 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

Large investors have recently added to or reduced their stakes in the stock. Marshall Wace LLP bought a new position in NextEra Energy Partners during the second quarter worth about $638,000. Creative Planning boosted its position in NextEra Energy Partners by 15.2% during the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after purchasing an additional 1,490 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares during the period. B. Riley Wealth Advisors Inc. boosted its position in NextEra Energy Partners by 40.4% during the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock worth $294,000 after purchasing an additional 3,064 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new position in NextEra Energy Partners during the second quarter worth about $418,000. 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.