StockNews.com Initiates Coverage on Nextera Energy Partners (NYSE:NEP)

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

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

Nextera Energy Partners Stock Performance

The firm has a market cap of $983.47 million, a price-to-earnings ratio of -105.15 and a beta of 1.03. Nextera Energy Partners has a one year low of $9.98 and a one year high of $35.15. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Nextera Energy Partners

Several hedge funds and other institutional investors have recently bought and sold shares of NEP. Raymond James Financial Inc. acquired a new stake in Nextera Energy Partners during the 4th quarter worth about $9,163,000. Amundi boosted its position in shares of Nextera Energy Partners by 90.9% during the 4th quarter. Amundi now owns 414,240 shares of the company’s stock valued at $7,564,000 after purchasing an additional 197,286 shares in the last quarter. Natural Investments LLC acquired a new stake in Nextera Energy Partners during the fourth quarter worth approximately $504,000. Finally, Prescott Group Capital Management L.L.C. bought a new stake in Nextera Energy Partners in the fourth quarter worth approximately $3,916,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

Nextera Energy Partners Company Profile

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.