Nextera Energy Partners (NYSE:NEP) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Nextera Energy Partners (NYSE:NEP) in a research note released on Sunday morning. The firm issued a sell rating on the stock.

A number of other research firms have also recently commented on NEP. Barclays cut their price target on shares of Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating on the stock in a report on Monday, February 3rd. Morgan Stanley reiterated an “underweight” rating and set a $13.00 price target (down previously from $22.00) on shares of Nextera Energy Partners in a report on Monday, February 3rd.

Nextera Energy Partners Stock Performance

The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The firm has a market cap of $983.47 million, a P/E ratio of -105.15 and a beta of 1.03.

Institutional Investors Weigh In On Nextera Energy Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natural Investments LLC purchased a new stake in Nextera Energy Partners in the fourth quarter worth approximately $504,000. Prescott Group Capital Management L.L.C. purchased a new stake in Nextera Energy Partners in the fourth quarter worth approximately $3,916,000. Amundi boosted its holdings in Nextera Energy Partners by 90.9% in the fourth quarter. Amundi now owns 414,240 shares of the company’s stock worth $7,564,000 after purchasing an additional 197,286 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in Nextera Energy Partners in the fourth quarter worth approximately $9,163,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

About Nextera Energy Partners

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.