NextEra Energy Partners (NYSE:NEP) Reaches New 1-Year Low - Should You Sell?

NextEra Energy Partners, LP (NYSE:NEP - Get Free Report) shares hit a new 52-week low during trading on Monday . The company traded as low as $15.55 and last traded at $15.68, with a volume of 220942 shares trading hands. The stock had previously closed at $15.70.

Analyst Upgrades and Downgrades

NEP has been the subject of several research analyst reports. BMO Capital Markets reaffirmed a "market perform" rating and issued a $18.00 price objective (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. JPMorgan Chase & Co. decreased their price objective on shares of NextEra Energy Partners from $22.00 to $20.00 and set a "neutral" rating for the company in a report on Thursday. BNP Paribas assumed coverage on NextEra Energy Partners in a report on Tuesday, October 1st. They set an "underperform" rating and a $15.00 target price on the stock. Barclays reaffirmed an "underweight" rating and set a $25.00 price target on shares of NextEra Energy Partners in a research note on Friday, October 4th. Finally, Guggenheim downgraded NextEra Energy Partners from a "buy" rating to a "neutral" rating and dropped their price objective for the stock from $37.00 to $22.00 in a research note on Monday, October 28th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $24.50.

NextEra Energy Partners Price Performance

The stock has a 50 day moving average of $17.51 and a two-hundred day moving average of $21.95. 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 has a market cap of $1.48 billion, a PE ratio of 7.24 and a beta of 1.06.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Northwestern Mutual Wealth Management Co. boosted its stake in NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider's stock worth $46,000 after purchasing an additional 1,000 shares during the period. EverSource Wealth Advisors LLC purchased a new stake in shares of NextEra Energy Partners in the second quarter valued at $51,000. Eastern Bank acquired a new stake in shares of NextEra Energy Partners in the third quarter worth $57,000. McIlrath & Eck LLC purchased a new position in shares of NextEra Energy Partners during the third quarter valued at $63,000. Finally, Central Pacific Bank Trust Division grew its holdings in shares of NextEra Energy Partners by 153.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider's stock valued at $110,000 after buying an additional 3,750 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

About NextEra Energy Partners

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.