Guggenheim Cuts NextEra Energy Partners (NYSE:NEP) Price Target to $12.00

NextEra Energy Partners (NYSE:NEP) had its target price trimmed by Guggenheim from $17.00 to $12.00 in a research report released on Wednesday,Benzinga reports. The brokerage currently has a neutral rating on the solar energy provider’s stock.

A number of other equities research analysts have also recently weighed in on the company. JPMorgan Chase & Co. lowered their price target on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a report on Thursday, January 23rd. Mizuho dropped their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective on the stock in a research report on Monday, December 2nd. Scotiabank dropped their target price on shares of NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating for the company in a report on Wednesday. Finally, BMO Capital Markets reaffirmed a “market perform” rating and issued a $18.00 price target (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $22.07.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $10.56 on Wednesday. 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 one year low of $9.98 and a one year high of $35.15. The company has a market cap of $987.21 million, a P/E ratio of -105.55 and a beta of 1.06. The business has a fifty day moving average of $17.07 and a two-hundred day moving average of $21.56.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a negative net margin of 0.73% and a positive return on equity of 1.34%. As a group, analysts predict that NextEra Energy Partners will post 1.54 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Several large investors have recently added to or reduced their stakes in the business. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in shares of NextEra Energy Partners during the 4th quarter valued at about $21,449,000. Thrivent Financial for Lutherans purchased a new stake in NextEra Energy Partners in the third quarter valued at approximately $16,186,000. Two Sigma Advisers LP purchased a new stake in NextEra Energy Partners in the third quarter valued at approximately $15,310,000. M&G PLC increased its position in NextEra Energy Partners by 19.3% during the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after purchasing an additional 496,383 shares during the last quarter. Finally, Graham Capital Wealth Management LLC purchased a new position in NextEra Energy Partners during the fourth quarter worth approximately $3,003,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

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.