Jefferies Financial Group Cuts NextEra Energy Partners (NYSE:NEP) Price Target to $27.00

NextEra Energy Partners (NYSE:NEP) had its price target decreased by equities researchers at Jefferies Financial Group from $28.00 to $27.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the solar energy provider’s stock. Jefferies Financial Group’s price objective points to a potential upside of 28.51% from the company’s current price.

Other research analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of NextEra Energy Partners from an “underweight” rating to a “neutral” rating and reduced their target price for the stock from $25.00 to $22.00 in a research report on Thursday. CIBC reduced their target price on shares of NextEra Energy Partners from $34.00 to $32.00 and set a “neutral” rating on the stock in a research report on Tuesday. Raymond James cut shares of NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a research report on Tuesday, July 9th. Barclays reissued an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a research report on Friday, October 4th. Finally, UBS Group dropped their price target on shares of 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. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $28.85.

NextEra Energy Partners Trading Down 16.3 %

Shares of NEP stock opened at $21.01 on Thursday. The stock has a market cap of $1.97 billion, a price-to-earnings ratio of 6.89 and a beta of 1.06. The company has a quick ratio of 1.22, a current ratio of 1.30 and a debt-to-equity ratio of 0.36. NextEra Energy Partners has a fifty-two week low of $20.82 and a fifty-two week high of $35.15. The firm’s 50 day moving average price is $25.61 and its two-hundred day moving average price is $27.77.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Wednesday, October 23rd. The solar energy provider reported ($0.43) earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.94). NextEra Energy Partners had a net margin of 24.42% and a negative return on equity of 0.40%. The business had revenue of $319.00 million for the quarter, compared to analyst estimates of $332.25 million. During the same period last year, the firm earned $0.57 earnings per share. The company’s quarterly revenue was up 3.6% on a year-over-year basis. On average, analysts anticipate that NextEra Energy Partners will post 2.2 EPS for the current year.

Institutional Trading of NextEra Energy Partners

Several institutional investors have recently added to or reduced their stakes in NEP. M&G Plc bought a new stake in NextEra Energy Partners during the first quarter valued at $83,069,000. Commerce Bank bought a new position in shares of NextEra Energy Partners during the first quarter worth about $15,597,000. Swedbank AB bought a new position in shares of NextEra Energy Partners during the first quarter worth about $9,927,000. ClearBridge Investments Ltd grew its position in shares of NextEra Energy Partners by 6.4% during the first quarter. ClearBridge Investments Ltd now owns 4,161,433 shares of the solar energy provider’s stock worth $125,176,000 after acquiring an additional 250,456 shares during the last quarter. Finally, Fred Alger Management LLC bought a new position in shares of NextEra Energy Partners during the second quarter worth about $5,452,000. 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.