Nextera Energy Partners (NYSE:NEP) Coverage Initiated at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Nextera Energy Partners (NYSE:NEP) in a report released on Tuesday. The firm set a “sell” rating on the stock.

A number of other brokerages also recently issued reports on NEP. Barclays cut their target price on Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating for the company in a research note on Monday, February 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $13.00 target price (down from $22.00) on shares of Nextera Energy Partners in a research note on Monday, February 3rd.

Nextera Energy Partners Price Performance

Nextera Energy Partners has a 52 week low of $9.98 and a 52 week high of $35.15. The company has a market capitalization of $983.47 million, a P/E ratio of -105.15 and a beta of 1.03. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Natural Investments LLC purchased a new position in Nextera Energy Partners in the fourth quarter worth approximately $504,000. Prescott Group Capital Management L.L.C. purchased a new stake in shares of Nextera Energy Partners during the 4th quarter worth $3,916,000. Amundi grew its stake in shares of Nextera Energy Partners by 90.9% during the fourth quarter. Amundi now owns 414,240 shares of the company’s stock worth $7,564,000 after purchasing an additional 197,286 shares in the last quarter. Finally, Raymond James Financial Inc. purchased a new position in Nextera Energy Partners in the fourth quarter valued at $9,163,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

Nextera Energy Partners Company Profile

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.