NextEra Energy Partners (NYSE:NEP) Price Target Cut to $20.00 by Analysts at JPMorgan Chase & Co.

NextEra Energy Partners (NYSE:NEP - Free Report) had its target price lowered by JPMorgan Chase & Co. from $22.00 to $20.00 in a report released on Thursday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the solar energy provider's stock.

Several other equities analysts have also issued reports on the stock. BMO Capital Markets restated a "market perform" rating and issued a $18.00 target price (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Jefferies Financial Group dropped their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a "buy" rating on the stock in a research note on Thursday, October 24th. UBS Group dropped their price target on NextEra Energy Partners from $28.00 to $27.00 and set a "neutral" rating on the stock in a report on Monday, September 30th. Scotiabank reduced their price objective on NextEra Energy Partners from $26.00 to $15.00 and set a "sector perform" rating for the company in a research note on Thursday, December 12th. Finally, Morgan Stanley upgraded NextEra Energy Partners from an "equal weight" rating to an "overweight" rating and set a $22.00 target price on the stock in a research note on Monday, December 2nd. Three investment analysts have rated the stock with a sell rating, twelve have issued a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus target price of $24.50.

NextEra Energy Partners Stock Performance

Shares of NEP stock traded down $1.11 on Thursday, hitting $15.74. The company's stock had a trading volume of 3,963,760 shares, compared to its average volume of 1,978,097. NextEra Energy Partners has a fifty-two week low of $15.55 and a fifty-two week high of $35.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The stock's 50 day moving average is $17.51 and its 200-day moving average is $22.09. The company has a market capitalization of $1.47 billion, a PE ratio of 7.22 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last posted its quarterly earnings data on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.94). NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. The firm had revenue of $319.00 million for the quarter, compared to the consensus estimate of $332.25 million. During the same period in the prior year, the company earned $0.57 EPS. The company's revenue for the quarter was up 3.6% compared to the same quarter last year. Equities research analysts expect that NextEra Energy Partners will post 2.06 earnings per share for the current fiscal year.

Institutional Trading of NextEra Energy Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NEP. M&G PLC grew its position in shares of NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider's stock valued at $85,738,000 after purchasing an additional 496,383 shares in the last quarter. Assenagon Asset Management S.A. boosted its stake in NextEra Energy Partners by 59.6% during the fourth quarter. Assenagon Asset Management S.A. now owns 173,251 shares of the solar energy provider's stock valued at $3,084,000 after buying an additional 64,673 shares during the period. Franklin Resources Inc. grew its position in NextEra Energy Partners by 89.4% during the third quarter. Franklin Resources Inc. now owns 78,930 shares of the solar energy provider's stock worth $2,049,000 after buying an additional 37,265 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in NextEra Energy Partners in the 3rd quarter worth about $16,186,000. Finally, Healthcare of Ontario Pension Plan Trust Fund increased its stake in NextEra Energy Partners by 158.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 255,754 shares of the solar energy provider's stock worth $7,064,000 after acquiring an additional 156,774 shares during the last quarter. Institutional investors 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.