NextEra Energy Partners (NYSE:NEP) Earns "Market Perform" Rating from Oppenheimer

NextEra Energy Partners (NYSE:NEP - Get Free Report)'s stock had its "market perform" rating reaffirmed by equities research analysts at Oppenheimer in a research report issued to clients and investors on Wednesday, Benzinga reports.

A number of other brokerages have also recently issued reports on NEP. JPMorgan Chase & Co. increased their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a "neutral" rating in a research note on Friday, January 26th. Barclays started coverage on shares of NextEra Energy Partners in a research report on Wednesday, April 10th. They set an "equal weight" rating and a $32.00 target price on the stock. Raymond James dropped their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, April 3rd. CIBC cut NextEra Energy Partners from a "sector outperform" rating to a "neutral" rating and set a $35.00 target price for the company. in a research note on Tuesday, January 9th. Finally, StockNews.com upgraded NextEra Energy Partners to a "sell" rating in a research report on Tuesday, March 19th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners currently has a consensus rating of "Hold" and a consensus price target of $43.88.

NextEra Energy Partners Stock Up 3.0 %

NYSE:NEP traded up $0.85 during trading hours on Wednesday, hitting $29.62. 1,788,537 shares of the company's stock traded hands, compared to its average volume of 1,388,898. The stock's fifty day moving average price is $28.29 and its two-hundred day moving average price is $27.35. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33. The firm has a market cap of $2.77 billion, a P/E ratio of 13.91 and a beta of 1.00. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $63.89.

NextEra Energy Partners (NYSE:NEP - Get Free Report) last released its quarterly earnings data on Tuesday, April 23rd. The solar energy provider reported $0.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The business had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same quarter in the previous year, the business earned ($0.17) EPS. NextEra Energy Partners's quarterly revenue was up 4.9% compared to the same quarter last year. On average, research analysts expect that NextEra Energy Partners will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Several institutional investors and hedge funds have recently modified their holdings of NEP. IFP Advisors Inc boosted its stake in shares of NextEra Energy Partners by 92.4% in the third quarter. IFP Advisors Inc now owns 2,115 shares of the solar energy provider's stock valued at $63,000 after buying an additional 1,016 shares during the period. Commonwealth Equity Services LLC raised its position in NextEra Energy Partners by 22.7% during the third quarter. Commonwealth Equity Services LLC now owns 43,746 shares of the solar energy provider's stock valued at $1,299,000 after purchasing an additional 8,094 shares in the last quarter. Cambridge Investment Research Advisors Inc. boosted its holdings in shares of NextEra Energy Partners by 4.8% during the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider's stock valued at $320,000 after acquiring an additional 496 shares in the last quarter. Kingswood Wealth Advisors LLC bought a new position in shares of NextEra Energy Partners during the third quarter valued at $436,000. Finally, Raymond James & Associates lifted its holdings in shares of NextEra Energy Partners by 41.7% during the third quarter. Raymond James & Associates now owns 676,495 shares of the solar energy provider's stock worth $20,092,000 after purchasing an additional 198,963 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.