NextEra Energy Partners (NYSE:NEP) PT Lowered to $26.00 at Mizuho

NextEra Energy Partners (NYSE:NEP) had its target price cut by research analysts at Mizuho from $33.00 to $26.00 in a research note issued on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the solar energy provider’s stock. Mizuho’s price target indicates a potential upside of 2.69% from the stock’s current price.

Other research analysts have also recently issued research reports about the company. UBS Group lowered their price objective on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Monday, September 30th. BNP Paribas initiated coverage on shares of NextEra Energy Partners in a research note on Tuesday, October 1st. They set an “underperform” rating and a $15.00 target price on the stock. Royal Bank of Canada downgraded shares of NextEra Energy Partners from an “outperform” rating to a “sector perform” rating and cut their price objective for the company from $38.00 to $30.00 in a research report on Monday, July 1st. Wolfe Research downgraded NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research report on Thursday, July 25th. Finally, Jefferies Financial Group started coverage on NextEra Energy Partners in a research report on Thursday, September 19th. They issued a “buy” rating and a $28.00 price target for the company. Five investment analysts have rated the stock with a sell rating, eight have issued a hold rating and four have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $29.54.

NextEra Energy Partners Stock Performance

NYSE:NEP opened at $25.32 on Wednesday. The company has a 50-day moving average price of $25.57 and a 200-day moving average price of $28.07. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 8.36 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 12 month low of $20.28 and a 12 month high of $35.15.

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

Institutional Trading of NextEra Energy Partners

Several large investors have recently added to or reduced their stakes in NEP. ClearBridge Investments Ltd boosted 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 valued at $125,176,000 after buying an additional 250,456 shares during the last quarter. M&G Plc acquired a new stake in shares of NextEra Energy Partners in the first quarter worth $83,069,000. Raymond James & Associates raised its holdings in shares of NextEra Energy Partners by 6.2% during the second quarter. Raymond James & Associates now owns 802,161 shares of the solar energy provider’s stock worth $22,172,000 after purchasing an additional 46,718 shares during the last quarter. Redwood Grove Capital LLC lifted its holdings in shares of NextEra Energy Partners by 0.9% in the 1st quarter. Redwood Grove Capital LLC now owns 776,555 shares of the solar energy provider’s stock valued at $23,359,000 after buying an additional 7,200 shares during the period. Finally, Vanguard Group Inc. increased its holdings in shares of NextEra Energy Partners by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 635,881 shares of the solar energy provider’s stock valued at $19,127,000 after purchasing an additional 22,370 shares in 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.