Wells Fargo & Company Has Lowered Expectations for NextEra Energy Partners (NYSE:NEP) Stock Price

NextEra Energy Partners (NYSE:NEP) had its target price reduced by research analysts at Wells Fargo & Company from $33.00 to $13.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the solar energy provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 24.70% from the stock’s current price.

NEP has been the subject of a number of other reports. Scotiabank lowered their price target on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, December 12th. Jefferies Financial Group dropped their price target on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research report on Monday, December 2nd. JPMorgan Chase & Co. decreased their price objective on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating for the company in a research note on Thursday, January 23rd. Finally, Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Three investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy Partners presently has an average rating of “Hold” and a consensus price target of $22.07.

NextEra Energy Partners Stock Down 0.6 %

Shares of NYSE NEP opened at $10.43 on Wednesday. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The company has a 50-day moving average price of $17.20 and a 200-day moving average price of $21.68. The stock has a market capitalization of $975.05 million, a P/E ratio of 4.78 and a beta of 1.06. NextEra Energy Partners has a 1 year low of $9.98 and a 1 year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly 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%. On average, equities research analysts forecast that NextEra Energy Partners will post 2.06 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

A number of institutional investors have recently modified their holdings of NEP. Northwestern Mutual Wealth Management Co. raised its holdings in NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the period. Avion Wealth raised its stake in shares of NextEra Energy Partners by 610.2% during the 4th quarter. Avion Wealth now owns 2,642 shares of the solar energy provider’s stock valued at $47,000 after purchasing an additional 2,270 shares during the period. Eastern Bank purchased a new stake in NextEra Energy Partners during the 3rd quarter worth about $57,000. McIlrath & Eck LLC bought a new position in NextEra Energy Partners in the 3rd quarter worth about $63,000. Finally, Central Pacific Bank Trust Division grew its holdings in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after buying an additional 3,750 shares in the last quarter. 66.01% of the stock is currently owned by hedge funds and other 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.