NextEra Energy Partners (NYSE:NEP) Shares Gap Down – Should You Sell?

NextEra Energy Partners, LP (NYSE:NEP)’s share price gapped down before the market opened on Tuesday . The stock had previously closed at $15.80, but opened at $11.93. NextEra Energy Partners shares last traded at $11.45, with a volume of 4,573,333 shares changing hands.

Wall Street Analysts Forecast Growth

NEP has been the subject of a number of research analyst reports. Mizuho lowered their target price 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. Scotiabank lowered their target price on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a report on Thursday, December 12th. Jefferies Financial Group lowered their target price on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a report on Thursday, October 24th. Guggenheim cut NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their target price for the company from $37.00 to $22.00 in a report on Monday, October 28th. Finally, CIBC lowered their target price on NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Three investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, NextEra Energy Partners has a consensus rating of “Hold” and a consensus price target of $24.50.

NextEra Energy Partners Stock Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The stock has a market capitalization of $1.05 billion, a PE ratio of 5.12 and a beta of 1.06. The stock has a 50 day moving average of $17.51 and a two-hundred day moving average of $21.95.

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 (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.20. NextEra Energy Partners had a negative return on equity of 1.07% and a net margin of 17.47%. Research analysts expect that NextEra Energy Partners, LP will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. raised its holdings in NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares during the last quarter. Eastern Bank acquired a new position in shares of NextEra Energy Partners in the third quarter worth $57,000. McIlrath & Eck LLC acquired a new position in shares of NextEra Energy Partners in the third quarter worth $63,000. Central Pacific Bank Trust Division raised its holdings in shares of NextEra Energy Partners by 153.1% in the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after acquiring an additional 3,750 shares during the last quarter. Finally, Future Financial Wealth Managment LLC acquired a new position in shares of NextEra Energy Partners in the third quarter worth $173,000. 66.01% of the stock is 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.