NextEra Energy Partners (NYSE:NEP) Receives Market Perform Rating from Oppenheimer

NextEra Energy Partners (NYSE:NEP)‘s stock had its “market perform” rating reissued by research analysts at Oppenheimer in a research note issued on Wednesday, Benzinga reports.

Several other equities research analysts also recently weighed in on NEP. StockNews.com raised NextEra Energy Partners to a “sell” rating in a report on Tuesday, March 19th. Evercore ISI assumed coverage on NextEra Energy Partners in a report on Tuesday, February 13th. They set an “outperform” rating and a $43.00 price target for the company. CIBC cut NextEra Energy Partners from a “sector outperform” rating to a “neutral” rating and set a $35.00 price objective for the company. in a research report on Tuesday, January 9th. Marathon Capitl reiterated an “equal weight” rating on shares of NextEra Energy Partners in a research report on Tuesday, March 26th. Finally, JPMorgan Chase & Co. increased their price objective on NextEra Energy Partners from $24.00 to $26.00 and gave the stock a “neutral” rating in a research report on Friday, January 26th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $43.88.

NextEra Energy Partners Price Performance

NEP stock opened at $29.17 on Wednesday. The company has a current ratio of 1.36, a quick ratio of 1.28 and a debt-to-equity ratio of 0.35. The business has a 50 day simple moving average of $28.31 and a 200-day simple moving average of $27.36. NextEra Energy Partners has a twelve month low of $20.17 and a twelve month high of $63.89. The company has a market capitalization of $2.73 billion, a P/E ratio of 9.56 and a beta of 1.00.

NextEra Energy Partners (NYSE:NEP) last issued its quarterly earnings results on Monday, April 22nd. The solar energy provider reported $0.75 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.63. NextEra Energy Partners had a negative return on equity of 0.48% and a net margin of 23.55%. The firm had revenue of $257.00 million during the quarter, compared to the consensus estimate of $331.78 million. During the same period last year, the company earned ($0.17) earnings per share. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts anticipate that NextEra Energy Partners will post 0.86 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. CWM LLC increased its position in shares of NextEra Energy Partners by 160.2% in the fourth quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after buying an additional 511 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in NextEra Energy Partners during the 4th quarter worth about $27,000. Hexagon Capital Partners LLC increased its position in NextEra Energy Partners by 208.3% during the 1st quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares in the last quarter. MV Capital Management Inc. purchased a new stake in NextEra Energy Partners during the 4th quarter worth about $30,000. Finally, Heritage Wealth Advisors purchased a new stake in NextEra Energy Partners during the 4th quarter worth about $33,000. Hedge funds and other institutional investors own 66.01% of the company’s stock.

About NextEra Energy Partners

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.