NextEra Energy Partners (NYSE:NEP) Hits New 1-Year Low – What’s Next?

NextEra Energy Partners, LP (NYSE:NEP) reached a new 52-week low during trading 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.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on NEP shares. Barclays reaffirmed an “underweight” rating and set a $25.00 target price on shares of NextEra Energy Partners in a report on Friday, October 4th. Evercore ISI lowered their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a research report on Thursday, October 24th. JPMorgan Chase & Co. reduced their target price on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating for the company in a report on Thursday, January 23rd. Mizuho decreased their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research report on Wednesday, October 9th. Finally, Scotiabank dropped their price target on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating on the stock in a research report on Thursday, December 12th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $24.50.

NextEra Energy Partners Stock Performance

The firm has a market cap of $1.10 billion, a price-to-earnings ratio of 5.42 and a beta of 1.06. The firm’s 50 day moving average is $17.43 and its 200-day moving average is $21.84. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02.

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 for the quarter, topping analysts’ consensus estimates 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%. Sell-side analysts anticipate that NextEra Energy Partners, LP will post 2.06 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in NEP. Entropy Technologies LP grew its stake in NextEra Energy Partners by 29.2% in the 4th quarter. Entropy Technologies LP now owns 28,675 shares of the solar energy provider’s stock valued at $510,000 after buying an additional 6,488 shares during the last quarter. abrdn plc grew its position in shares of NextEra Energy Partners by 15.3% in the fourth quarter. abrdn plc now owns 980,200 shares of the solar energy provider’s stock valued at $17,242,000 after purchasing an additional 130,000 shares during the last quarter. Graham Capital Wealth Management LLC bought a new position in shares of NextEra Energy Partners in the fourth quarter worth about $3,003,000. KPP Advisory Services LLC acquired a new position in shares of NextEra Energy Partners during the 4th quarter worth about $223,000. Finally, Everett Harris & Co. CA bought a new stake in NextEra Energy Partners during the 4th quarter valued at approximately $543,000. 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.