NextEra Energy Partners (NYSE:NEP) Reaches New 12-Month Low – What’s Next?

NextEra Energy Partners, LP (NYSE:NEPGet Free Report) shares reached a new 52-week low on Monday . The company traded as low as $15.55 and last traded at $15.68, with a volume of 220942 shares traded. The stock had previously closed at $15.70.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on NEP shares. Barclays reiterated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research note on Friday, October 4th. Evercore ISI dropped their price objective on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. JPMorgan Chase & Co. decreased their price target on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday. Jefferies Financial Group decreased their target price on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a report on Thursday, October 24th. Finally, Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 price objective for the company in a research report on Monday, December 2nd. Three research analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $24.50.

View Our Latest Report on NEP

NextEra Energy Partners Trading Down 2.2 %

The firm has a 50 day moving average price of $17.51 and a two-hundred day moving average price of $22.04. 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 company has a market cap of $1.44 billion, a price-to-earnings ratio of 7.04 and a beta of 1.06.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC acquired a new position in shares of NextEra Energy Partners in the 2nd quarter valued at about $51,000. Marshall Wace LLP bought a new position in shares of NextEra Energy Partners during the 2nd quarter worth approximately $638,000. Creative Planning increased its stake in shares of NextEra Energy Partners by 15.2% in the 2nd quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock valued at $313,000 after acquiring an additional 1,490 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in shares of NextEra Energy Partners by 150.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 1,000 shares during the period. Finally, B. Riley Wealth Advisors Inc. grew its holdings in NextEra Energy Partners by 40.4% in the second quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock worth $294,000 after purchasing an additional 3,064 shares during the period. Institutional investors and hedge funds own 66.01% of the company’s stock.

NextEra Energy Partners Company Profile

(Get Free Report)

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.

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