NextEra Energy Partners (NYSE:NEP) Price Target Lowered to $12.00 at Scotiabank

NextEra Energy Partners (NYSE:NEP) had its target price cut by analysts at Scotiabank from $15.00 to $12.00 in a research report issued on Wednesday,Benzinga reports. The firm currently has a “sector perform” rating on the solar energy provider’s stock. Scotiabank’s price objective would suggest a potential upside of 1.62% from the stock’s current price.

NEP has been the subject of a number of other reports. Barclays reissued an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Wells Fargo & Company decreased their target price on NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating for the company in a research note on Wednesday. BMO Capital Markets reaffirmed a “market perform” rating and set a $18.00 price objective (down from $26.00) on shares of NextEra Energy Partners in a research report on Monday, January 13th. Mizuho reduced their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, BNP Paribas assumed coverage on NextEra Energy Partners in a research report on Tuesday, October 1st. They set an “underperform” rating and a $15.00 price objective for the company. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $23.53.

NextEra Energy Partners Trading Down 25.3 %

NYSE NEP opened at $11.81 on Wednesday. The stock has a 50-day simple moving average of $17.43 and a 200 day simple moving average of $21.84. The company has a market capitalization of $1.10 billion, a PE ratio of 5.42 and a beta of 1.06. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a 12 month low of $10.69 and a 12 month high of $35.15.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. Research analysts forecast that NextEra Energy Partners will post 2.06 EPS for the current year.

Institutional Trading of NextEra Energy Partners

Several institutional investors and hedge funds have recently bought and sold shares of NEP. Marshall Wace LLP bought a new stake in NextEra Energy Partners in the second quarter valued at approximately $638,000. Creative Planning raised its stake in NextEra Energy Partners by 15.2% in the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock valued at $313,000 after buying an additional 1,490 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after buying an additional 1,000 shares during the period. B. Riley Wealth Advisors Inc. raised its stake in NextEra Energy Partners by 40.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock valued at $294,000 after buying an additional 3,064 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new stake in NextEra Energy Partners in the second quarter valued at approximately $418,000. 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.