NextEra Energy Partners (NYSE:NEP) Given New $13.00 Price Target at Wells Fargo & Company

NextEra Energy Partners (NYSE:NEP) had its price target cut by equities researchers at Wells Fargo & Company from $33.00 to $13.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “equal weight” rating on the solar energy provider’s stock. Wells Fargo & Company‘s target price indicates a potential upside of 10.09% from the company’s previous close.

NEP has been the subject of a number of other research reports. JPMorgan Chase & Co. lowered their price target on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. BMO Capital Markets reissued a “market perform” rating and issued a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Guggenheim lowered NextEra Energy Partners from a “buy” rating to a “neutral” rating and cut their price target for the company from $37.00 to $22.00 in a research note on Monday, October 28th. Evercore ISI decreased their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Thursday, October 24th. Finally, Mizuho cut their target price on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research report on Wednesday, October 9th. Three equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $23.73.

NextEra Energy Partners Stock Down 25.3 %

NEP opened at $11.81 on Wednesday. The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 5.42 and a beta of 1.06. The firm’s 50-day simple moving average is $17.43 and its 200-day simple 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 twelve month low of $10.69 and a twelve month high of $35.15.

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

Institutional Trading of NextEra Energy Partners

A number of large investors have recently made changes to their positions in NEP. Brown Miller Wealth Management LLC grew its stake in NextEra Energy Partners by 2.4% in the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after acquiring an additional 433 shares during the period. Apollon Wealth Management LLC lifted its holdings in shares of NextEra Energy Partners by 5.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock valued at $340,000 after purchasing an additional 667 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of NextEra Energy Partners by 150.4% in 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 purchasing an additional 1,000 shares during the period. Creative Planning increased its stake in NextEra Energy Partners by 15.2% during the 2nd 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 in the last quarter. Finally, Pathway Financial Advisers LLC raised its holdings in NextEra Energy Partners by 3.6% during the 3rd quarter. Pathway Financial Advisers LLC now owns 50,110 shares of the solar energy provider’s stock worth $1,384,000 after buying an additional 1,747 shares during the period. 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.