NextEra Energy Partners (NYSE:NEP) PT Lowered to $28.00 at BMO Capital Markets

NextEra Energy Partners (NYSE:NEP) had its target price trimmed by BMO Capital Markets from $32.00 to $28.00 in a research note published on Monday morning, Benzinga reports. The firm currently has an outperform rating on the solar energy provider’s stock.

Other equities analysts have also issued reports about the company. Royal Bank of Canada lowered NextEra Energy Partners from an outperform rating to a sector perform rating and reduced their price objective for the company from $38.00 to $30.00 in a report on Monday, July 1st. Mizuho lowered NextEra Energy Partners from a buy rating to a neutral rating and set a $33.00 price objective on the stock. in a research report on Wednesday, June 12th. Marathon Capitl reiterated an equal weight rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Oppenheimer reaffirmed a market perform rating on shares of NextEra Energy Partners in a research note on Wednesday, April 24th. Finally, JPMorgan Chase & Co. reaffirmed an underweight rating and set a $25.00 price objective on shares of NextEra Energy Partners in a research note on Thursday, May 23rd. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, NextEra Energy Partners has a consensus rating of Hold and an average price target of $36.93.

NextEra Energy Partners Stock Performance

NEP opened at $27.46 on Monday. The company has a current ratio of 1.36, a quick ratio of 1.31 and a debt-to-equity ratio of 0.35. The company’s fifty day moving average price is $29.87 and its two-hundred day moving average price is $29.12. NextEra Energy Partners has a 1-year low of $20.17 and a 1-year high of $59.40. The company has a market cap of $2.57 billion, a price-to-earnings ratio of 9.00 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Monday, April 22nd. The solar energy provider reported $0.75 EPS for the quarter, beating the consensus estimate of $0.12 by $0.63. The company had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 23.55% and a negative return on equity of 0.48%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.17) earnings per share. On average, analysts expect that NextEra Energy Partners will post 1.89 EPS for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Several large investors have recently modified their holdings of NEP. Vanguard Group Inc. raised its holdings in NextEra Energy Partners by 3.9% in the third quarter. Vanguard Group Inc. now owns 619,780 shares of the solar energy provider’s stock worth $18,407,000 after buying an additional 23,008 shares during the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in NextEra Energy Partners by 26.2% in the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 166,588 shares of the solar energy provider’s stock valued at $5,066,000 after acquiring an additional 34,553 shares in the last quarter. Connective Portfolio Management LLC purchased a new stake in NextEra Energy Partners during the 4th quarter valued at $547,000. A. D. Beadell Investment Counsel Inc. increased its holdings in shares of NextEra Energy Partners by 6.5% in the 4th quarter. A. D. Beadell Investment Counsel Inc. now owns 113,496 shares of the solar energy provider’s stock worth $3,451,000 after purchasing an additional 6,956 shares in the last quarter. Finally, Kaizen Financial Strategies purchased a new position in shares of NextEra Energy Partners in the fourth quarter worth $252,000. Hedge funds and other institutional investors 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.