NextEra Energy Partners’ (NEP) Underweight Rating Reiterated at Morgan Stanley

NextEra Energy Partners (NYSE:NEP)‘s stock had its “underweight” rating restated by equities research analysts at Morgan Stanley in a research note issued on Monday,Benzinga reports. They presently have a $13.00 price target on the solar energy provider’s stock, down from their previous price target of $22.00. Morgan Stanley’s target price suggests a potential upside of 23.16% from the stock’s current price.

NEP has been the topic of several other research reports. Wells Fargo & Company reduced their price target on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 29th. Jefferies Financial Group dropped their price objective on shares of NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating on the stock in a research note on Wednesday, January 29th. BMO Capital Markets restated a “market perform” rating and issued a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Scotiabank decreased their target price on NextEra Energy Partners from $15.00 to $12.00 and set a “sector perform” rating for the company in a research note on Wednesday, January 29th. Finally, Mizuho cut their price target on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Four equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and two 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 $21.47.

NextEra Energy Partners Trading Up 1.1 %

NEP stock opened at $10.56 on Monday. The company has a market cap of $987.21 million, a price-to-earnings ratio of -105.55 and a beta of 1.03. 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 business has a fifty day simple moving average of $17.07 and a 200-day simple moving average of $21.48. NextEra Energy Partners has a 52 week low of $9.98 and a 52 week high of $35.15.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.79 by $0.20. NextEra Energy Partners had a positive return on equity of 1.34% and a negative net margin of 0.73%. On average, equities research analysts expect that NextEra Energy Partners will post 1.54 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in NEP. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NextEra Energy Partners in the fourth quarter worth approximately $21,449,000. Thrivent Financial for Lutherans acquired a new position in NextEra Energy Partners in the third quarter worth approximately $16,186,000. Two Sigma Advisers LP acquired a new position in NextEra Energy Partners in the third quarter worth approximately $15,310,000. M&G PLC grew its position in NextEra Energy Partners by 19.3% during the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after purchasing an additional 496,383 shares in the last quarter. Finally, Graham Capital Wealth Management LLC purchased a new position in NextEra Energy Partners during the 4th quarter worth approximately $3,003,000. Institutional investors and hedge funds own 66.01% of the company’s stock.

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.