NextEra Energy Partners (NYSE:NEP) Coverage Initiated at Jefferies Financial Group

Equities researchers at Jefferies Financial Group began coverage on shares of NextEra Energy Partners (NYSE:NEP) in a report released on Thursday, Marketbeat Ratings reports. The firm set a “buy” rating and a $28.00 price target on the solar energy provider’s stock. Jefferies Financial Group’s price target suggests a potential upside of 3.59% from the stock’s current price.

Other equities analysts have also issued reports about the company. Barclays lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $25.00 price objective on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Wolfe Research cut shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their price target for the stock from $31.00 to $20.00 in a research report on Wednesday, July 31st. Finally, Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a report on Wednesday, June 12th. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $32.67.

NextEra Energy Partners Stock Performance

Shares of NYSE NEP opened at $27.03 on Thursday. The company has a 50-day simple moving average of $25.64 and a 200-day simple moving average of $28.21. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The company has a market cap of $2.53 billion, a PE ratio of 8.86 and a beta of 1.05. NextEra Energy Partners has a 12 month low of $20.17 and a 12 month high of $48.89.

NextEra Energy Partners (NYSE:NEP) last released its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, topping the consensus estimate of $0.59 by $0.07. The firm had revenue of $360.00 million during the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. NextEra Energy Partners’s revenue for the quarter was up 22.9% on a year-over-year basis. During the same period in the previous year, the company earned $0.53 EPS. On average, equities analysts anticipate that NextEra Energy Partners will post 1.74 earnings per share for the current year.

Institutional Investors Weigh In On NextEra Energy Partners

A number of large investors have recently modified their holdings of the stock. Janney Montgomery Scott LLC grew its position in NextEra Energy Partners by 74.8% in the fourth quarter. Janney Montgomery Scott LLC now owns 114,157 shares of the solar energy provider’s stock valued at $3,472,000 after acquiring an additional 48,842 shares in the last quarter. UBS Group AG grew its holdings in NextEra Energy Partners by 12.9% during the 4th quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock valued at $10,215,000 after purchasing an additional 38,363 shares in the last quarter. Clearbridge Investments LLC purchased a new stake in NextEra Energy Partners during the 4th quarter worth $6,818,000. Trexquant Investment LP acquired a new position in NextEra Energy Partners in the 4th quarter worth $1,852,000. Finally, Franklin Resources Inc. boosted its position in NextEra Energy Partners by 100.2% in the 4th quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock valued at $948,000 after buying an additional 15,604 shares during the last quarter. Institutional investors and hedge funds 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.