Raymond James Trims NextEra Energy Partners (NYSE:NEP) Target Price to $45.00

NextEra Energy Partners (NYSE:NEP - Get Free Report) had its target price lowered by equities researchers at Raymond James from $50.00 to $45.00 in a research report issued on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the solar energy provider's stock. Raymond James' price objective would suggest a potential upside of 55.17% from the company's previous close.

Several other research analysts also recently commented on NEP. CIBC downgraded NextEra Energy Partners from a "sector outperform" rating to a "neutral" rating and set a $35.00 price target on the stock. in a research report on Tuesday, January 9th. Mizuho reduced their price objective on NextEra Energy Partners from $40.00 to $33.00 and set a "buy" rating on the stock in a research note on Tuesday, December 12th. StockNews.com raised NextEra Energy Partners to a "sell" rating in a research note on Tuesday, March 19th. JPMorgan Chase & Co. upped their price target on NextEra Energy Partners from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. Finally, Guggenheim cut their price target on NextEra Energy Partners from $42.00 to $37.00 and set a "buy" rating on the stock in a research note on Wednesday, December 6th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, NextEra Energy Partners currently has a consensus rating of "Hold" and an average price target of $46.38.

NextEra Energy Partners Trading Down 0.7 %

NEP traded down $0.19 during trading on Wednesday, reaching $29.00. The company had a trading volume of 883,760 shares, compared to its average volume of 1,384,415. The firm's 50-day simple moving average is $28.54 and its 200 day simple moving average is $28.25. The company has a market cap of $2.71 billion, a price-to-earnings ratio of 13.62, a PEG ratio of 2.13 and a beta of 1.00. NextEra Energy Partners has a 12-month low of $20.17 and a 12-month high of $64.43. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last announced its quarterly earnings data on Thursday, January 25th. The solar energy provider reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of $0.03 by ($0.38). The business had revenue of $232.00 million for the quarter, compared to analyst estimates of $360.03 million. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. Equities research analysts anticipate that NextEra Energy Partners will post 0.94 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the company. Global Wealth Management Investment Advisory Inc. acquired a new position in NextEra Energy Partners during the first quarter valued at approximately $36,000. Lazard Asset Management LLC boosted its position in NextEra Energy Partners by 69.6% during the first quarter. Lazard Asset Management LLC now owns 546 shares of the solar energy provider's stock valued at $45,000 after purchasing an additional 224 shares during the last quarter. Parkside Financial Bank & Trust boosted its position in NextEra Energy Partners by 40.1% during the second quarter. Parkside Financial Bank & Trust now owns 754 shares of the solar energy provider's stock valued at $44,000 after purchasing an additional 216 shares during the last quarter. CWM LLC boosted its position in NextEra Energy Partners by 160.2% during the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider's stock valued at $25,000 after purchasing an additional 511 shares during the last quarter. Finally, Richardson Financial Services Inc. acquired a new stake in shares of NextEra Energy Partners in the fourth quarter valued at approximately $27,000. 66.01% of the stock is currently 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.