Shares of NextEra Energy Partners, LP (NYSE:NEP – Get Free Report) gapped down prior to trading on Wednesday after CIBC lowered their price target on the stock from $34.00 to $32.00. The stock had previously closed at $25.09, but opened at $23.42. CIBC currently has a neutral rating on the stock. NextEra Energy Partners shares last traded at $23.24, with a volume of 1,000,644 shares trading hands.
A number of other brokerages have also recently weighed in on NEP. Wolfe Research cut shares of NextEra Energy Partners from an “outperform” rating to a “peer perform” rating in a research note on Thursday, July 25th. Mizuho cut their price objective on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. BMO Capital Markets cut their price objective 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. 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 price objective on the stock. Finally, Morgan Stanley cut shares of NextEra Energy Partners from an “equal weight” rating to an “underweight” rating and cut their price objective for the company from $31.00 to $20.00 in a research note on Wednesday, July 31st. Five investment analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $29.15.
Read Our Latest Stock Analysis on NEP
Institutional Trading of NextEra Energy Partners
NextEra Energy Partners Trading Down 16.3 %
The company has a debt-to-equity ratio of 0.36, a current ratio of 1.30 and a quick ratio of 1.22. The company has a fifty day moving average of $25.61 and a 200-day moving average of $27.77. The firm has a market capitalization of $1.97 billion, a PE ratio of 6.89 and a beta of 1.06.
NextEra Energy Partners (NYSE:NEP – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The solar energy provider reported $0.66 earnings per share (EPS) for the quarter, topping 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 period last year, the company earned $0.53 earnings per share. NextEra Energy Partners’s quarterly revenue was up 22.9% compared to the same quarter last year. On average, sell-side analysts anticipate that NextEra Energy Partners, LP will post 2.2 earnings per share for the current fiscal year.
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.
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