Scotiabank Cuts NextEra Energy Partners (NYSE:NEP) Price Target to $12.00

NextEra Energy Partners (NYSE:NEP) had its price target lowered by Scotiabank from $15.00 to $12.00 in a research report released on Wednesday morning,Benzinga reports. The brokerage currently has a sector perform rating on the solar energy provider’s stock.

Other analysts have also issued research reports about the stock. Guggenheim lowered shares of NextEra Energy Partners from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $37.00 to $22.00 in a research note on Monday, October 28th. Mizuho dropped their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a research note on Wednesday, October 9th. Barclays reissued an “underweight” rating and issued a $25.00 price objective on shares of NextEra Energy Partners in a research report on Friday, October 4th. Evercore ISI dropped their target price on 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. Finally, 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 price target on the stock. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, NextEra Energy Partners currently has a consensus rating of “Hold” and an average target price of $22.07.

NextEra Energy Partners Stock Up 1.1 %

Shares of NextEra Energy Partners stock opened at $10.56 on Wednesday. NextEra Energy Partners has a twelve month low of $9.98 and a twelve month high of $35.15. The stock has a market cap of $987.21 million, a price-to-earnings ratio of -105.55 and a beta of 1.06. 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 company has a fifty day moving average price of $17.07 and a 200 day moving average price of $21.56.

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

Institutional Trading of NextEra Energy Partners

Several institutional investors have recently added to or reduced their stakes in the business. Marshall Wace LLP acquired a new position in shares of NextEra Energy Partners in the 2nd quarter valued at about $638,000. Creative Planning boosted its stake in NextEra Energy Partners by 15.2% in the second quarter. Creative Planning now owns 11,307 shares of the solar energy provider’s stock valued at $313,000 after acquiring an additional 1,490 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of NextEra Energy Partners by 150.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock valued at $46,000 after purchasing an additional 1,000 shares during the last quarter. B. Riley Wealth Advisors Inc. raised its position in shares of NextEra Energy Partners by 40.4% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 10,648 shares of the solar energy provider’s stock worth $294,000 after purchasing an additional 3,064 shares during the period. Finally, Granite Bay Wealth Management LLC bought a new stake in shares of NextEra Energy Partners in the 2nd quarter worth approximately $418,000. Institutional investors 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.