NextEra Energy Partners (NYSE:NEP) Stock Rating Upgraded by StockNews.com

NextEra Energy Partners (NYSE:NEP) was upgraded by equities research analysts at StockNews.com to a “sell” rating in a report released on Thursday.

A number of other equities analysts also recently issued reports on NEP. Mizuho downgraded NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research report on Wednesday, June 12th. Barclays cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. Raymond James downgraded shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Tuesday, July 9th. Wolfe Research lowered shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday. Finally, BMO Capital Markets reduced their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Monday. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $36.93.

NextEra Energy Partners Stock Performance

NYSE:NEP traded down $1.56 during trading hours on Thursday, reaching $25.92. The company had a trading volume of 4,070,507 shares, compared to its average volume of 1,466,754. The firm has a market cap of $2.42 billion, a PE ratio of 8.50 and a beta of 1.03. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $57.29. The business’s 50 day moving average price is $29.75 and its 200-day moving average price is $29.11. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.36 and a quick ratio of 1.31.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating the consensus estimate of $0.59 by $0.07. The company had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm’s revenue was up 22.9% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Research analysts forecast that NextEra Energy Partners will post 1.89 EPS for the current year.

Institutional Investors Weigh In On NextEra Energy Partners

Hedge funds have recently modified their holdings of the company. Central Bank & Trust Co. purchased a new position in NextEra Energy Partners in the second quarter worth approximately $99,000. MONECO Advisors LLC purchased a new position in shares of NextEra Energy Partners during the 2nd quarter worth $299,000. Raymond James & Associates increased its position in shares of NextEra Energy Partners by 6.2% during the 2nd quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock worth $22,172,000 after purchasing an additional 46,718 shares during the last quarter. Assenagon Asset Management S.A. purchased a new stake in NextEra Energy Partners in the 2nd quarter valued at about $2,794,000. Finally, Abundance Wealth Counselors lifted its position in NextEra Energy Partners by 14.8% in the second quarter. Abundance Wealth Counselors now owns 58,279 shares of the solar energy provider’s stock valued at $1,611,000 after buying an additional 7,526 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

About NextEra Energy Partners

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.