NextEra Energy Partners (NYSE:NEP) Given New $27.00 Price Target at UBS Group

NextEra Energy Partners (NYSE:NEP) had its price target decreased by investment analysts at UBS Group from $28.00 to $27.00 in a report released on Monday, Benzinga reports. The brokerage currently has a “neutral” rating on the solar energy provider’s stock. UBS Group’s target price indicates a potential downside of 2.07% from the stock’s current price.

A number of other equities analysts have also recently issued reports on the company. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a report on Thursday, July 25th. Morgan Stanley lowered shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and decreased their price target for the company from $31.00 to $20.00 in a report on Wednesday, July 31st. Jefferies Financial Group began coverage on NextEra Energy Partners in a research note on Thursday, September 19th. They set a “buy” rating and a $28.00 price objective on the stock. Mizuho cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Wednesday, June 12th. Finally, Barclays downgraded shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $32.00 to $25.00 in a report on Thursday, June 13th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $31.36.

NextEra Energy Partners Price Performance

Shares of NextEra Energy Partners stock traded down $0.54 during trading on Monday, hitting $27.57. 627,429 shares of the company’s stock traded hands, compared to its average volume of 1,409,631. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $35.15. The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The company has a market cap of $2.58 billion, a PE ratio of 9.06 and a beta of 1.05. The firm’s fifty day moving average price is $25.67 and its 200 day moving average price is $28.15.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping the consensus estimate of $0.59 by $0.07. The business had revenue of $360.00 million for the quarter, compared to analyst estimates of $365.54 million. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.53 EPS. Analysts forecast that NextEra Energy Partners will post 2.2 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of NEP. UBS Group AG lifted its stake in NextEra Energy Partners by 12.9% during the fourth quarter. UBS Group AG now owns 335,908 shares of the solar energy provider’s stock worth $10,215,000 after purchasing an additional 38,363 shares during the last quarter. Franklin Resources Inc. boosted its position in NextEra Energy Partners by 100.2% during the fourth quarter. Franklin Resources Inc. now owns 31,183 shares of the solar energy provider’s stock valued at $948,000 after buying an additional 15,604 shares during the period. Advisory Services Network LLC bought a new position in shares of NextEra Energy Partners during the fourth quarter valued at about $267,000. Steward Partners Investment Advisory LLC increased its holdings in shares of NextEra Energy Partners by 147.3% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 26,032 shares of the solar energy provider’s stock worth $792,000 after buying an additional 15,506 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in shares of NextEra Energy Partners by 120.0% in the 4th quarter. Belpointe Asset Management LLC now owns 18,089 shares of the solar energy provider’s stock valued at $550,000 after acquiring an additional 9,865 shares during the last quarter. Hedge funds and other institutional investors own 66.01% of the company’s stock.

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.