Traders Buy High Volume of Put Options on NextEra Energy Partners (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) saw some unusual options trading on Wednesday. Stock traders acquired 23,538 put options on the stock. This represents an increase of 388% compared to the typical daily volume of 4,826 put options.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on NEP shares. CIBC cut their price objective 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. Barclays reissued an “underweight” rating and set a $25.00 price target on shares of NextEra Energy Partners in a report on Friday, October 4th. Wells Fargo & Company decreased their price objective on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating on the stock in a research note on Wednesday. Jefferies Financial Group cut their target price on shares of NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research report on Thursday, January 23rd. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, NextEra Energy Partners presently has an average rating of “Hold” and an average target price of $22.07.

NextEra Energy Partners Trading Up 1.1 %

Shares of NYSE:NEP traded up $0.12 during trading on Friday, hitting $10.56. 4,907,315 shares of the company’s stock were exchanged, compared to its average volume of 4,498,929. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37. The firm has a market cap of $987.21 million, a P/E ratio of -105.55 and a beta of 1.06. The firm has a 50-day moving average price of $17.20 and a two-hundred day moving average price of $21.68. NextEra Energy Partners has a 1-year low of $9.98 and a 1-year high of $35.15.

NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, beating the consensus estimate of $0.79 by $0.20. NextEra Energy Partners had a negative net margin of 0.73% and a positive return on equity of 1.34%. Equities analysts predict that NextEra Energy Partners will post 1.54 earnings per share for the current year.

Hedge Funds Weigh In On NextEra Energy Partners

Several hedge funds have recently added to or reduced their stakes in the stock. Brown Miller Wealth Management LLC grew its holdings in shares of NextEra Energy Partners by 2.4% in the 3rd quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after buying an additional 433 shares during the period. Pathway Financial Advisers LLC lifted its holdings in NextEra Energy Partners by 0.9% during the second quarter. Pathway Financial Advisers LLC now owns 48,363 shares of the solar energy provider’s stock worth $1,336,000 after acquiring an additional 454 shares in the last quarter. Apollon Wealth Management LLC grew its stake in NextEra Energy Partners by 5.7% in the third quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock valued at $340,000 after acquiring an additional 667 shares during the period. Northwestern Mutual Wealth Management Co. increased its holdings in shares of NextEra Energy Partners by 150.4% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Truist Financial Corp raised its position in shares of NextEra Energy Partners by 10.1% during the fourth quarter. Truist Financial Corp now owns 11,434 shares of the solar energy provider’s stock worth $204,000 after purchasing an additional 1,049 shares during the period. 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.