NextEra Energy Partners (NYSE:NEP) Given New $28.00 Price Target at BMO Capital Markets

NextEra Energy Partners (NYSE:NEP) had its price objective reduced by BMO Capital Markets from $32.00 to $28.00 in a report issued on Monday morning, Benzinga reports. They currently have an outperform rating on the solar energy provider’s stock.

NEP has been the subject of a number of other research reports. Marathon Capitl reiterated an equal weight rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Royal Bank of Canada cut NextEra Energy Partners from an outperform rating to a sector perform rating and dropped their price objective for the stock from $38.00 to $30.00 in a research report on Monday, July 1st. Barclays cut NextEra Energy Partners from an equal weight rating to an underweight rating and dropped their price objective for the stock from $32.00 to $25.00 in a research report on Thursday, June 13th. Raymond James cut NextEra Energy Partners from an outperform rating to a market perform rating in a research report on Tuesday, July 9th. Finally, Mizuho cut NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 price target for the company. in a report on Wednesday, June 12th. Three research analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of Hold and an average target price of $36.93.

NextEra Energy Partners Trading Down 1.1 %

NYSE:NEP opened at $27.46 on Monday. The company has a market capitalization of $2.57 billion, a PE ratio of 9.00 and a beta of 1.03. The company has a quick ratio of 1.31, a current ratio of 1.36 and a debt-to-equity ratio of 0.35. NextEra Energy Partners has a 52-week low of $20.17 and a 52-week high of $59.40. The stock has a fifty day simple moving average of $29.87 and a 200-day simple moving average of $29.12.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.12 by $0.63. The firm had revenue of $257.00 million during the quarter, compared to analysts’ expectations of $331.78 million. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business posted ($0.17) EPS. On average, equities research analysts expect that NextEra Energy Partners will post 1.89 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the stock. CWM LLC lifted its position in NextEra Energy Partners by 160.2% during the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock worth $25,000 after acquiring an additional 511 shares in the last quarter. Richardson Financial Services Inc. acquired a new position in NextEra Energy Partners during the 4th quarter worth approximately $27,000. Hexagon Capital Partners LLC raised its position in shares of NextEra Energy Partners by 208.3% in the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock valued at $28,000 after purchasing an additional 627 shares in the last quarter. MV Capital Management Inc. acquired a new position in shares of NextEra Energy Partners in the 4th quarter valued at approximately $30,000. Finally, Heritage Wealth Advisors acquired a new position in shares of NextEra Energy Partners in the 4th quarter valued at approximately $33,000. 66.01% of the stock is owned by institutional investors and hedge funds.

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.