Guggenheim Issues Pessimistic Forecast for NextEra Energy Partners (NYSE:NEP) Stock Price

NextEra Energy Partners (NYSE:NEP) had its price objective dropped by investment analysts at Guggenheim from $17.00 to $12.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “neutral” rating on the solar energy provider’s stock. Guggenheim’s target price suggests a potential upside of 15.11% from the stock’s current price.

A number of other research firms also recently issued reports on NEP. Evercore ISI reduced their price target 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. CIBC cut their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Barclays reiterated an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Jefferies Financial Group cut their price objective on shares of NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating on the stock in a research report on Thursday, October 24th. Finally, JPMorgan Chase & Co. cut their price objective on shares of 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 research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $22.07.

NextEra Energy Partners Trading Down 0.6 %

NextEra Energy Partners stock opened at $10.43 on Wednesday. The firm’s 50-day moving average is $17.20 and its 200-day moving average is $21.68. 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 has a 1 year low of $9.98 and a 1 year high of $35.15. The company has a market cap of $975.05 million, a P/E ratio of 4.78 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. On average, equities analysts expect that NextEra Energy Partners will post 2.06 earnings per share for the current year.

Hedge Funds Weigh In On NextEra Energy Partners

Several hedge funds have recently made changes to their positions in the business. Brown Miller Wealth Management LLC grew its stake 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 worth $509,000 after purchasing an additional 433 shares during the last quarter. Apollon Wealth Management LLC grew its stake in shares of NextEra Energy Partners by 5.7% in the 3rd quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock worth $340,000 after purchasing an additional 667 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in shares of NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after purchasing an additional 1,000 shares during the last quarter. Creative Planning grew its stake in shares of NextEra Energy Partners by 15.2% in the 2nd quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock worth $313,000 after purchasing an additional 1,490 shares during the last quarter. Finally, Pathway Financial Advisers LLC grew its stake in shares of NextEra Energy Partners by 3.6% in the 3rd quarter. Pathway Financial Advisers LLC now owns 50,110 shares of the solar energy provider’s stock worth $1,384,000 after purchasing an additional 1,747 shares during the last quarter. Institutional investors and hedge funds 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.