NextEra Energy Partners (NYSE:NEP) Receives New Coverage from Analysts at Barclays

Stock analysts at Barclays assumed coverage on shares of NextEra Energy Partners (NYSE:NEP - Get Free Report) in a report issued on Wednesday, MarketBeat.com reports. The brokerage set an "equal weight" rating and a $32.00 price target on the solar energy provider's stock. Barclays's price target would suggest a potential upside of 12.48% from the company's previous close.

Several other analysts have also commented on the company. CIBC lowered NextEra Energy Partners from a "sector outperform" rating to a "neutral" rating and set a $35.00 price objective for the company. in a report on Tuesday, January 9th. StockNews.com raised NextEra Energy Partners to a "sell" rating in a report on Tuesday, March 19th. Mizuho lowered their target price on NextEra Energy Partners from $40.00 to $33.00 and set a "buy" rating on the stock in a research report on Tuesday, December 12th. Evercore ISI assumed coverage on NextEra Energy Partners in a research report on Tuesday, February 13th. They set an "outperform" rating and a $43.00 target price on the stock. Finally, JPMorgan Chase & Co. lifted their target price on NextEra Energy Partners from $24.00 to $26.00 and gave the company a "neutral" rating in a research report on Friday, January 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners presently has a consensus rating of "Hold" and a consensus target price of $45.53.

NextEra Energy Partners Stock Down 6.3 %

Shares of NextEra Energy Partners stock traded down $1.90 on Wednesday, reaching $28.45. The company's stock had a trading volume of 1,977,522 shares, compared to its average volume of 1,363,457. The company has a quick ratio of 1.28, a current ratio of 1.33 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $64.43. The company has a market capitalization of $2.66 billion, a price-to-earnings ratio of 13.36 and a beta of 1.00. The firm's fifty day simple moving average is $28.51 and its two-hundred day simple moving average is $27.56.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last issued its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing the consensus estimate of $0.03 by ($0.38). NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The firm had revenue of $232.00 million during the quarter, compared to the consensus estimate of $360.03 million. Equities analysts anticipate that NextEra Energy Partners will post 0.9 earnings per share for the current year.

Institutional Investors Weigh In On NextEra Energy Partners

Several large investors have recently made changes to their positions in the company. Beacon Pointe Advisors LLC increased its holdings in shares of NextEra Energy Partners by 2.9% in the first quarter. Beacon Pointe Advisors LLC now owns 7,125 shares of the solar energy provider's stock worth $594,000 after purchasing an additional 200 shares during the last quarter. Parkside Financial Bank & Trust increased its holdings in shares of NextEra Energy Partners by 40.1% in the second quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider's stock worth $44,000 after purchasing an additional 216 shares during the last quarter. Lazard Asset Management LLC increased its holdings in shares of NextEra Energy Partners by 69.6% in the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider's stock worth $45,000 after purchasing an additional 224 shares during the last quarter. State of Wyoming increased its holdings in shares of NextEra Energy Partners by 28.2% in the second quarter. State of Wyoming now owns 1,137 shares of the solar energy provider's stock worth $67,000 after purchasing an additional 250 shares during the last quarter. Finally, Vident Investment Advisory LLC increased its holdings in shares of NextEra Energy Partners by 6.7% in the fourth quarter. Vident Investment Advisory LLC now owns 4,547 shares of the solar energy provider's stock worth $319,000 after purchasing an additional 285 shares during the last quarter. 66.01% of the stock is owned by 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.