Jefferies Financial Group Issues Pessimistic Forecast for NextEra Energy Partners (NYSE:NEP) Stock Price

NextEra Energy Partners (NYSE:NEP) had its price target lowered by analysts at Jefferies Financial Group from $25.00 to $15.00 in a note issued to investors on Wednesday,Benzinga reports. The firm presently has a “buy” rating on the solar energy provider’s stock. Jefferies Financial Group’s price objective would indicate a potential upside of 43.88% from the stock’s current price.

A number of other brokerages also recently issued reports on NEP. Evercore ISI cut their target price on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research note on Thursday, October 24th. BNP Paribas began coverage on NextEra Energy Partners in a research note on Tuesday, October 1st. They issued an “underperform” rating and a $15.00 target price for the company. Mizuho cut their target price on NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. Morgan Stanley raised NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price for the company in a research note on Monday, December 2nd. Finally, Barclays reaffirmed an “underweight” rating and issued a $25.00 target price on shares of NextEra Energy Partners in a research note on Friday, October 4th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $22.07.

NextEra Energy Partners Stock Down 0.6 %

NYSE NEP opened at $10.43 on Wednesday. The business has a fifty day moving average price of $17.20 and a 200 day moving average price of $21.68. NextEra Energy Partners has a one year low of $9.98 and a one year high of $35.15. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. 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 data 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 return on equity of 1.07% and a net margin of 17.47%. Research analysts anticipate that NextEra Energy Partners will post 2.06 EPS for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

A number of hedge funds and other institutional investors have recently bought and sold shares of NEP. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT purchased a new position in NextEra Energy Partners during the 4th quarter valued at about $21,449,000. Thrivent Financial for Lutherans purchased a new position in NextEra Energy Partners during the 3rd quarter valued at about $16,186,000. Two Sigma Advisers LP purchased a new position in NextEra Energy Partners during the 3rd quarter valued at about $15,310,000. M&G PLC boosted its stake in shares of NextEra Energy Partners by 19.3% in the 3rd quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock valued at $85,738,000 after buying an additional 496,383 shares during the period. Finally, Graham Capital Wealth Management LLC purchased a new position in shares of NextEra Energy Partners in the 4th quarter valued at about $3,003,000. 66.01% of the stock is currently owned by hedge funds and other institutional investors.

NextEra Energy Partners Company Profile

NextEra Energy Partners, LP 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.