Analysts Set Nextera Energy Partners LP (NEP) Price Target at $40.38

Nextera Energy Partners LP (NYSE:NEP) has been assigned an average recommendation of “Hold” from the nineteen ratings firms that are presently covering the company, Marketbeat Ratings reports. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and ten have assigned a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $40.38.

Several research analysts have recently issued reports on the company. Zacks Investment Research cut Nextera Energy Partners from a “hold” rating to a “sell” rating in a research note on Wednesday, January 17th. Royal Bank of Canada reissued a “hold” rating and issued a $39.00 price target on shares of Nextera Energy Partners in a research note on Tuesday, October 10th. JPMorgan Chase & Co. cut their price objective on Nextera Energy Partners from $39.00 to $38.00 and set a “neutral” rating for the company in a report on Thursday, October 12th. Morgan Stanley upgraded Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price objective for the company in a report on Tuesday, December 12th. Finally, TheStreet lowered Nextera Energy Partners from a “b” rating to a “c+” rating in a report on Thursday, October 26th.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. lifted its holdings in shares of Nextera Energy Partners by 9.9% during the second quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock valued at $120,672,000 after purchasing an additional 293,830 shares during the last quarter. Jennison Associates LLC lifted its holdings in shares of Nextera Energy Partners by 2.7% during the third quarter. Jennison Associates LLC now owns 2,493,394 shares of the solar energy provider’s stock valued at $100,459,000 after purchasing an additional 64,760 shares during the last quarter. FMR LLC lifted its holdings in shares of Nextera Energy Partners by 9.3% during the second quarter. FMR LLC now owns 1,816,194 shares of the solar energy provider’s stock valued at $67,181,000 after purchasing an additional 154,700 shares during the last quarter. Reaves W H & Co. Inc. lifted its holdings in shares of Nextera Energy Partners by 3.3% during the third quarter. Reaves W H & Co. Inc. now owns 1,444,248 shares of the solar energy provider’s stock valued at $58,189,000 after purchasing an additional 46,025 shares during the last quarter. Finally, Kayne Anderson Capital Advisors LP lifted its holdings in shares of Nextera Energy Partners by 38.0% during the third quarter. Kayne Anderson Capital Advisors LP now owns 638,072 shares of the solar energy provider’s stock valued at $25,701,000 after purchasing an additional 175,800 shares during the last quarter. 83.57% of the stock is owned by institutional investors and hedge funds.

Nextera Energy Partners (NEP) traded down $0.34 during trading hours on Friday, hitting $40.93. The stock had a trading volume of 178,077 shares, compared to its average volume of 308,071. Nextera Energy Partners has a 12 month low of $27.47 and a 12 month high of $44.24. The company has a market capitalization of $2,260.00, a PE ratio of 32.74, a price-to-earnings-growth ratio of 2.24 and a beta of 1.20. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20.

Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings results on Thursday, October 26th. The solar energy provider reported $0.01 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.36). Nextera Energy Partners had a return on equity of 3.57% and a net margin of 10.38%. The business had revenue of $177.00 million during the quarter, compared to the consensus estimate of $243.16 million. equities analysts expect that Nextera Energy Partners will post 0.91 EPS for the current fiscal year.

COPYRIGHT VIOLATION WARNING: “Analysts Set Nextera Energy Partners LP (NEP) Price Target at $40.38” was originally published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are viewing this story on another site, it was stolen and reposted in violation of US and international copyright & trademark law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2018/02/14/analysts-set-nextera-energy-partners-lp-nep-price-target-at-40-38.html.

About Nextera Energy Partners

Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.

Analyst Recommendations for Nextera Energy Partners (NYSE:NEP)

Receive News & Ratings for Nextera Energy Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Nextera Energy Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply