NextEra Energy Partners’ (NEP) Market Perform Rating Reaffirmed at Oppenheimer

NextEra Energy Partners (NYSE:NEP)‘s stock had its “market perform” rating reiterated by equities researchers at Oppenheimer in a note issued to investors on Wednesday, Benzinga reports.

A number of other research firms have also commented on NEP. Evercore ISI assumed coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price target for the company. Raymond James dropped their price objective on NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, April 3rd. CIBC lowered NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research note on Tuesday, January 9th. Barclays assumed coverage on NextEra Energy Partners in a research note on Wednesday, April 10th. They set an “equal weight” rating and a $32.00 price objective for the company. Finally, Marathon Capitl reissued an “equal weight” rating on shares of NextEra Energy Partners in a research note on Tuesday, March 26th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, NextEra Energy Partners has an average rating of “Hold” and a consensus target price of $43.88.

NextEra Energy Partners Price Performance

NextEra Energy Partners stock opened at $28.71 on Wednesday. NextEra Energy Partners has a one year low of $20.17 and a one year high of $64.43. The business has a fifty day moving average price of $28.27 and a 200-day moving average price of $27.30. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.33 and a quick ratio of 1.28. The firm has a market capitalization of $2.68 billion, a P/E ratio of 13.48 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.17 by $0.58. NextEra Energy Partners had a negative return on equity of 1.06% and a net margin of 16.00%. The firm had revenue of $257.00 million during the quarter, compared to analyst estimates of $331.78 million. During the same period last year, the company earned ($0.17) earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities research analysts forecast that NextEra Energy Partners will post 0.83 EPS for the current year.

Hedge Funds Weigh In On NextEra Energy Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. IFP Advisors Inc boosted its stake in shares of NextEra Energy Partners by 92.4% during the third quarter. IFP Advisors Inc now owns 2,115 shares of the solar energy provider’s stock valued at $63,000 after purchasing an additional 1,016 shares during the period. Commonwealth Equity Services LLC boosted its stake in shares of NextEra Energy Partners by 22.7% during the third quarter. Commonwealth Equity Services LLC now owns 43,746 shares of the solar energy provider’s stock valued at $1,299,000 after purchasing an additional 8,094 shares during the period. Cambridge Investment Research Advisors Inc. boosted its stake in shares of NextEra Energy Partners by 4.8% during the third quarter. Cambridge Investment Research Advisors Inc. now owns 10,767 shares of the solar energy provider’s stock valued at $320,000 after purchasing an additional 496 shares during the period. Kingswood Wealth Advisors LLC purchased a new stake in shares of NextEra Energy Partners during the third quarter valued at approximately $436,000. Finally, Raymond James & Associates boosted its stake in shares of NextEra Energy Partners by 41.7% during the third quarter. Raymond James & Associates now owns 676,495 shares of the solar energy provider’s stock valued at $20,092,000 after purchasing an additional 198,963 shares during the period. 66.01% of the stock is currently owned by institutional investors.

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.