NextEra Energy Partners (NYSE:NEP) Price Target Cut to $7.00 by Analysts at Barclays

NextEra Energy Partners (NYSE:NEP) had its price target decreased by Barclays from $17.00 to $7.00 in a research note released on Monday,Benzinga reports. Barclays currently has an underweight rating on the solar energy provider’s stock.

A number of other equities research analysts have also issued reports on NEP. BMO Capital Markets reaffirmed a “market perform” rating and set a $18.00 target price (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Scotiabank cut their target price on NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating on the stock in a research report on Wednesday, January 29th. Wells Fargo & Company lowered their price target on NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 29th. JPMorgan Chase & Co. decreased their target price on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Finally, 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 research report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $20.27.

NextEra Energy Partners Price Performance

Shares of NYSE NEP opened at $10.52 on Monday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The firm has a fifty day moving average of $16.94 and a 200 day moving average of $21.36. The firm has a market cap of $983.47 million, a PE ratio of -105.15 and a beta of 1.03. NextEra Energy Partners has a one year low of $9.98 and a one year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.20. NextEra Energy Partners had a negative net margin of 0.73% and a positive return on equity of 1.34%. As a group, research analysts predict that NextEra Energy Partners will post 1.54 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Brown Miller Wealth Management LLC boosted its holdings in shares of NextEra Energy Partners by 2.4% in the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after acquiring an additional 433 shares during the period. Apollon Wealth Management LLC boosted its stake in NextEra Energy Partners by 5.7% during the 3rd quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock worth $340,000 after purchasing an additional 667 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after purchasing an additional 1,000 shares during the period. Truist Financial Corp boosted its stake in shares of NextEra Energy Partners by 10.1% during the fourth quarter. Truist Financial Corp now owns 11,434 shares of the solar energy provider’s stock worth $204,000 after buying an additional 1,049 shares during the period. Finally, Creative Planning grew its holdings in shares of NextEra Energy Partners by 15.2% during the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after buying an additional 1,490 shares during the last quarter. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.