StockNews.com Begins Coverage on Nextera Energy Partners (NYSE:NEP)

Stock analysts at StockNews.com assumed coverage on shares of Nextera Energy Partners (NYSE:NEP) in a research note issued to investors on Monday. The firm set a “sell” rating on the stock.

NEP has been the subject of a number of other research reports. Barclays decreased their price objective on shares of Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, February 3rd. Morgan Stanley reiterated an “underweight” rating and issued a $13.00 target price (down from $22.00) on shares of Nextera Energy Partners in a research note on Monday, February 3rd.

Nextera Energy Partners Price Performance

Nextera Energy Partners has a twelve month low of $9.98 and a twelve month high of $35.15. 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 company has a market capitalization of $983.47 million, a P/E ratio of -105.15 and a beta of 1.03.

Hedge Funds Weigh In On Nextera Energy Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. Natural Investments LLC bought a new stake in Nextera Energy Partners in the 4th quarter valued at $504,000. Prescott Group Capital Management L.L.C. bought a new position in Nextera Energy Partners during the fourth quarter worth about $3,916,000. Amundi raised its stake in Nextera Energy Partners by 90.9% in the 4th quarter. Amundi now owns 414,240 shares of the company’s stock worth $7,564,000 after purchasing an additional 197,286 shares in the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in Nextera Energy Partners in the 4th quarter worth about $9,163,000. 66.01% of the stock is currently owned by institutional investors and hedge funds.

About Nextera Energy Partners

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.