NextEra Energy Partners (NYSE:NEP) Now Covered by Jefferies Financial Group

Investment analysts at Jefferies Financial Group began coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research report issued on Thursday, Marketbeat.com reports. The firm set a “buy” rating and a $28.00 price target on the solar energy provider’s stock. Jefferies Financial Group’s price target would suggest a potential upside of 3.59% from the company’s previous close.

Other equities research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a report on Thursday, May 23rd. Royal Bank of Canada cut NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price objective for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Wolfe Research lowered NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. BMO Capital Markets cut their price target on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research note on Monday, July 22nd. Finally, Raymond James lowered shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Four research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $32.67.

NextEra Energy Partners Trading Up 0.9 %

NEP opened at $27.03 on Thursday. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $48.89. The business’s 50 day moving average is $25.64 and its two-hundred day moving average is $28.21. The firm has a market cap of $2.53 billion, a price-to-earnings ratio of 8.86 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 EPS for the quarter, beating analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The company’s quarterly revenue was up 22.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.53 EPS. On average, research analysts predict that NextEra Energy Partners will post 1.74 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Ameritas Advisory Services LLC grew its holdings in shares of NextEra Energy Partners by 1.4% in the 2nd quarter. Ameritas Advisory Services LLC now owns 29,190 shares of the solar energy provider’s stock worth $807,000 after acquiring an additional 412 shares during the period. Pathway Financial Advisers LLC grew its holdings in NextEra Energy Partners by 0.9% in the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock valued at $1,336,000 after purchasing an additional 454 shares during the last quarter. Arizona State Retirement System increased its position in shares of NextEra Energy Partners by 2.0% in the second quarter. Arizona State Retirement System now owns 26,186 shares of the solar energy provider’s stock valued at $724,000 after buying an additional 509 shares in the last quarter. Newbridge Financial Services Group Inc. raised its stake in shares of NextEra Energy Partners by 46.0% during the 4th quarter. Newbridge Financial Services Group Inc. now owns 1,689 shares of the solar energy provider’s stock worth $51,000 after buying an additional 532 shares during the last quarter. Finally, Jaffetilchin Investment Partners LLC boosted its position in shares of NextEra Energy Partners by 4.6% in the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 13,088 shares of the solar energy provider’s stock worth $362,000 after buying an additional 581 shares in the last quarter. 66.01% of the stock is owned by hedge funds and other institutional investors.

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.