NextEra Energy Partners (NYSE:NEP) Coverage Initiated by Analysts at Jefferies Financial Group

Jefferies Financial Group began coverage on shares of NextEra Energy Partners (NYSE:NEP) in a report issued on Thursday, Briefing.com reports. The brokerage set a “buy” rating and a $28.00 price target on the solar energy provider’s stock. Jefferies Financial Group’s target price suggests a potential upside of 8.36% from the stock’s previous close.

Several other research firms have also weighed in on NEP. Barclays lowered NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $32.00 to $25.00 in a research note on Thursday, June 13th. Mizuho downgraded shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and set a $33.00 price target on the stock. in a research note on Wednesday, June 12th. BMO Capital Markets decreased their price target on shares of NextEra Energy Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a report on Monday, July 22nd. Raymond James downgraded shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research note on Tuesday, July 9th. Finally, Royal Bank of Canada cut shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and decreased their target price for the stock from $38.00 to $30.00 in a research note on Monday, July 1st. Four investment analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners presently has a consensus rating of “Hold” and an average price target of $32.67.

NextEra Energy Partners Price Performance

Shares of NYSE:NEP opened at $25.84 on Thursday. The firm has a 50 day moving average of $25.68 and a 200-day moving average of $28.23. NextEra Energy Partners has a 12 month low of $20.17 and a 12 month high of $50.66. The company has a current ratio of 1.30, a quick ratio of 1.22 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $2.42 billion, a PE ratio of 8.47 and a beta of 1.05.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, beating 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 business had revenue of $360.00 million for the quarter, compared to analysts’ expectations of $365.54 million. During the same period last year, the firm posted $0.53 earnings per share. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, equities research analysts predict that NextEra Energy Partners will post 1.74 EPS for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy Partners

A number of institutional investors have recently modified their holdings of the company. Richardson Financial Services Inc. acquired a new position in NextEra Energy Partners in the fourth quarter valued at $27,000. Hexagon Capital Partners LLC grew its stake in NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the period. Heritage Wealth Advisors acquired a new stake in NextEra Energy Partners during the fourth quarter worth approximately $33,000. Central Pacific Bank Trust Division bought a new stake in NextEra Energy Partners in the first quarter worth approximately $36,000. Finally, FinTrust Capital Advisors LLC acquired a new position in NextEra Energy Partners in the first quarter valued at approximately $45,000. 66.01% of the stock is owned by institutional investors.

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.