NextEra Energy Partners (NYSE:NEP) PT Lowered to $32.00 at CIBC

NextEra Energy Partners (NYSE:NEP) had its target price cut by CIBC from $34.00 to $32.00 in a research note released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the solar energy provider’s stock.

A number of other analysts have also recently weighed in on NEP. Jefferies Financial Group started coverage on shares of NextEra Energy Partners in a research note on Thursday, September 19th. They issued a “buy” rating and a $28.00 target price on the stock. Mizuho dropped their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Royal Bank of Canada lowered NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their price target for the company from $38.00 to $30.00 in a research note on Monday, July 1st. StockNews.com upgraded NextEra Energy Partners to a “sell” rating in a research note on Thursday, July 25th. Finally, BMO Capital Markets reduced their target price on shares of NextEra Energy Partners from $28.00 to $26.00 and set an “outperform” rating on the stock in a research note on Monday. Five research analysts have rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $29.15.

NextEra Energy Partners Price Performance

Shares of NYSE:NEP opened at $25.09 on Tuesday. The firm has a market capitalization of $2.35 billion, a PE ratio of 8.23 and a beta of 1.06. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a 1-year low of $21.83 and a 1-year high of $35.15. The business’s 50 day moving average is $25.69 and its 200-day moving average is $27.82.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results 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. NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The firm had revenue of $360.00 million for the quarter, compared to the consensus estimate of $365.54 million. During the same quarter in the previous year, the company earned $0.53 earnings per share. The business’s revenue was up 22.9% compared to the same quarter last year. Sell-side analysts predict that NextEra Energy Partners will post 2.2 earnings per share for the current year.

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently modified their holdings of the stock. M&G Plc acquired a new position in NextEra Energy Partners during the 1st quarter worth $83,069,000. Commerce Bank acquired a new position in shares of NextEra Energy Partners during the first quarter valued at $15,597,000. Swedbank AB bought a new position in NextEra Energy Partners in the first quarter valued at about $9,927,000. ClearBridge Investments Ltd increased its position in NextEra Energy Partners by 6.4% in the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after purchasing an additional 250,456 shares during the period. Finally, Fred Alger Management LLC bought a new stake in NextEra Energy Partners during the 2nd quarter worth about $5,452,000. 66.01% of the stock is owned by institutional investors.

NextEra Energy Partners Company Profile

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.