Traders Purchase High Volume of Put Options on NextEra Energy Partners (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) was the recipient of unusually large options trading activity on Wednesday. Investors acquired 23,538 put options on the company. This is an increase of 388% compared to the typical volume of 4,826 put options.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Mizuho decreased their price objective on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a report on Wednesday, October 9th. Jefferies Financial Group decreased their price target on shares of NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Evercore ISI cut their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. Guggenheim decreased their target price on shares of NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating for the company in a research report on Wednesday. Finally, Barclays reiterated an “underweight” rating and issued a $25.00 price target on shares of NextEra Energy Partners in a research note on Friday, October 4th. Three equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $22.07.

NextEra Energy Partners Stock Performance

Shares of NYSE NEP traded up $0.12 during midday trading on Friday, hitting $10.56. 4,907,315 shares of the company’s stock were exchanged, compared to its average volume of 4,498,929. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $987.21 million, a PE ratio of -105.55 and a beta of 1.06. NextEra Energy Partners has a 12 month low of $9.98 and a 12 month high of $35.15. The company’s 50 day moving average price is $17.20 and its 200 day moving average price is $21.68.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share for the quarter, beating 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, analysts predict that NextEra Energy Partners will post 1.54 earnings per share for the current fiscal year.

Institutional Investors Weigh In On NextEra Energy Partners

Hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 last quarter. Avion Wealth boosted its stake in NextEra Energy Partners by 610.2% in the 4th quarter. Avion Wealth now owns 2,642 shares of the solar energy provider’s stock valued at $47,000 after purchasing an additional 2,270 shares during the period. Eastern Bank bought a new stake in NextEra Energy Partners in the 3rd quarter valued at $57,000. McIlrath & Eck LLC acquired a new position in NextEra Energy Partners in the 3rd quarter valued at $63,000. Finally, Central Pacific Bank Trust Division increased its position in NextEra Energy Partners by 153.1% during the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after buying an additional 3,750 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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.