Nextera Energy Partners (NYSE:NEP) Now Covered by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Nextera Energy Partners (NYSE:NEP) in a research note issued to investors on Sunday. The brokerage issued a sell rating on the stock.

A number of other research analysts have also recently weighed in on the stock. Morgan Stanley restated an “underweight” rating and issued a $13.00 price objective (down previously from $22.00) on shares of Nextera Energy Partners in a report on Monday, February 3rd. Barclays decreased their price target 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.

Nextera Energy Partners Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The firm has a market capitalization of $983.47 million, a PE ratio of -105.15 and a beta of 1.03. Nextera Energy Partners has a 52-week low of $9.98 and a 52-week high of $35.15.

Hedge Funds Weigh In On Nextera Energy Partners

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Natural Investments LLC purchased a new stake in shares of Nextera Energy Partners during the fourth quarter worth approximately $504,000. Prescott Group Capital Management L.L.C. acquired a new position in Nextera Energy Partners during the 4th quarter worth approximately $3,916,000. Amundi increased its position in shares of Nextera Energy Partners by 90.9% in the 4th quarter. Amundi now owns 414,240 shares of the company’s stock valued at $7,564,000 after purchasing an additional 197,286 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new stake in shares of Nextera Energy Partners in the 4th quarter valued at $9,163,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

Nextera Energy Partners Company Profile

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.