NextEra Energy Partners (NYSE:NEP) Rating Reiterated by Barclays

NextEra Energy Partners (NYSE:NEP)‘s stock had its “underweight” rating reaffirmed by equities researchers at Barclays in a report issued on Friday, Benzinga reports. They currently have a $25.00 target price on the solar energy provider’s stock. Barclays‘s target price would suggest a potential downside of 3.06% from the stock’s previous close.

Other equities research analysts have also issued research reports about the stock. Mizuho lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target for the company. in a report on Wednesday, June 12th. Wolfe Research cut NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a report on Thursday, July 25th. StockNews.com raised shares of NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. BNP Paribas began coverage on NextEra Energy Partners in a report on Tuesday. They issued an “underperform” rating and a $15.00 price objective on the stock. Finally, BMO Capital Markets reduced their target price on NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Monday, July 22nd. Five analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $30.08.

NextEra Energy Partners Stock Performance

Shares of NYSE:NEP traded down $0.01 during midday trading on Friday, reaching $25.79. The company’s stock had a trading volume of 129,399 shares, compared to its average volume of 1,401,807. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average of $25.62 and a 200 day moving average of $28.11. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $35.15. The firm has a market capitalization of $2.41 billion, a PE ratio of 8.46 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.59 by $0.07. The business had revenue of $360.00 million during the quarter, compared to the consensus estimate 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 revenue was up 22.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.53 earnings per share. On average, equities analysts expect that NextEra Energy Partners will post 2.2 EPS for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Sanctuary Advisors LLC purchased a new position in NextEra Energy Partners in the second quarter worth approximately $639,000. Cetera Investment Advisers increased its position in shares of NextEra Energy Partners by 10.6% in the 2nd quarter. Cetera Investment Advisers now owns 70,491 shares of the solar energy provider’s stock valued at $1,948,000 after purchasing an additional 6,769 shares during the last quarter. Granite Bay Wealth Management LLC purchased a new stake in shares of NextEra Energy Partners during the 2nd quarter worth $418,000. Pathway Financial Advisers LLC grew its stake in shares of NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after purchasing an additional 454 shares in the last quarter. Finally, B. Riley Wealth Advisors Inc. increased its holdings in NextEra Energy Partners by 40.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock valued at $294,000 after buying an additional 3,064 shares during the last quarter. 66.01% of the stock is owned by institutional investors and hedge funds.

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.