Nextera Energy Partners (NYSE:NEP) Coverage Initiated at StockNews.com

Analysts at StockNews.com started coverage on shares of Nextera Energy Partners (NYSE:NEP) in a note issued to investors on Monday. The firm set a “sell” rating on the stock.

Several other research analysts have also weighed in on the company. Barclays reduced their target price on Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, February 3rd. Morgan Stanley reiterated an “underweight” rating and set a $13.00 price objective (down previously from $22.00) on shares of Nextera Energy Partners in a report on Monday, February 3rd.

Nextera Energy Partners Stock Performance

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

Institutional Investors Weigh In On Nextera Energy Partners

Several institutional investors have recently added to or reduced their stakes in the stock. Natural Investments LLC acquired a new stake in shares of Nextera Energy Partners in the 4th quarter valued at about $504,000. Amundi grew its holdings in shares of Nextera Energy Partners by 90.9% during the fourth quarter. Amundi now owns 414,240 shares of the company’s stock worth $7,564,000 after buying an additional 197,286 shares in the last quarter. Prescott Group Capital Management L.L.C. acquired a new stake in Nextera Energy Partners in the 4th quarter valued at approximately $3,916,000. Finally, Raymond James Financial Inc. acquired a new stake in Nextera Energy Partners in the 4th quarter valued at approximately $9,163,000. 66.01% of the stock is owned by institutional investors.

About Nextera Energy Partners

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.