NextEra Energy Partners (NYSE:NEP) Shares Gap Down – Should You Sell?

NextEra Energy Partners, LP (NYSE:NEP)’s share price gapped down prior to trading on Tuesday . The stock had previously closed at $15.80, but opened at $11.93. NextEra Energy Partners shares last traded at $11.45, with a volume of 4,573,333 shares changing hands.

Analyst Ratings Changes

NEP has been the subject of several analyst reports. BMO Capital Markets reiterated a “market perform” rating and issued a $18.00 target price (down from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Jefferies Financial Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “buy” rating for the company in a research report on Thursday, October 24th. Guggenheim downgraded NextEra Energy Partners from a “buy” rating to a “neutral” rating and lowered their price target for the company from $37.00 to $22.00 in a research report on Monday, October 28th. Evercore ISI lowered their price target on NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Thursday, October 24th. Finally, UBS Group lowered their price target on NextEra Energy Partners from $28.00 to $27.00 and set a “neutral” rating for the company in a research report on Monday, September 30th. Three research analysts have rated the stock with a sell rating, twelve have given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $24.50.

NextEra Energy Partners Stock Performance

The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The company has a 50 day moving average of $17.51 and a 200 day moving average of $21.95. The firm has a market cap of $1.05 billion, a price-to-earnings ratio of 5.12 and a beta of 1.06.

NextEra Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, topping 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%. As a group, equities research analysts expect that NextEra Energy Partners, LP will post 2.06 EPS for the current fiscal year.

Institutional Trading of NextEra Energy Partners

Several institutional investors and hedge funds have recently bought and sold shares of the company. abrdn plc raised its stake in NextEra Energy Partners by 15.3% during the fourth quarter. abrdn plc now owns 980,200 shares of the solar energy provider’s stock valued at $17,242,000 after buying an additional 130,000 shares in the last quarter. Graham Capital Wealth Management LLC acquired a new stake in NextEra Energy Partners during the fourth quarter valued at approximately $3,003,000. KPP Advisory Services LLC acquired a new stake in shares of NextEra Energy Partners during the 4th quarter worth approximately $223,000. Everett Harris & Co. CA acquired a new stake in shares of NextEra Energy Partners during the 4th quarter worth approximately $543,000. Finally, Swedbank AB raised its position in shares of NextEra Energy Partners by 14.5% during the 4th quarter. Swedbank AB now owns 278,689 shares of the solar energy provider’s stock worth $4,961,000 after purchasing an additional 35,307 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.