Nextera Energy Partners (NYSE:NEP) Now Covered by StockNews.com

StockNews.com assumed coverage on shares of Nextera Energy Partners (NYSE:NEP) in a report published on Thursday morning. The brokerage issued a sell rating on the stock.

Other equities research analysts also recently issued research reports about the company. Morgan Stanley reissued an “underweight” rating and issued a $13.00 target price (down previously from $22.00) on shares of Nextera Energy Partners in a report on Monday, February 3rd. Barclays dropped their target price on shares of Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating for the company in a report on Monday, February 3rd.

Nextera Energy Partners Stock Performance

The company has a market capitalization of $983.47 million, a PE ratio of -105.15 and a beta of 1.03. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On Nextera Energy Partners

Large investors have recently modified their holdings of the company. Natural Investments LLC purchased a new position in shares of Nextera Energy Partners in the 4th quarter valued at $504,000. Prescott Group Capital Management L.L.C. purchased a new position in Nextera Energy Partners in the fourth quarter valued at about $3,916,000. Amundi lifted its stake in shares of Nextera Energy Partners by 90.9% during the fourth quarter. Amundi now owns 414,240 shares of the company’s stock worth $7,564,000 after purchasing an additional 197,286 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Nextera Energy Partners in the fourth quarter worth about $9,163,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

About Nextera Energy Partners

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.