NextEra Energy Partners’ (NEP) Underweight Rating Reiterated at Morgan Stanley

NextEra Energy Partners (NYSE:NEP)‘s stock had its “underweight” rating reaffirmed by Morgan Stanley in a research report issued on Monday,Benzinga reports. They currently have a $13.00 price objective on the solar energy provider’s stock, down from their prior price objective of $22.00. Morgan Stanley’s price objective would suggest a potential upside of 23.16% from the stock’s current price.

NEP has been the topic of several other reports. Wells Fargo & Company lowered their price target on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 29th. Jefferies Financial Group reduced their price objective on shares of NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. CIBC reduced their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, January 8th. Guggenheim reduced their price objective on shares of NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating for the company in a research note on Wednesday, January 29th. Finally, Evercore ISI reduced their price objective on shares of 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. Four research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $21.47.

NextEra Energy Partners Trading Up 1.1 %

NextEra Energy Partners stock opened at $10.56 on Monday. The company’s fifty day simple moving average is $17.07 and its 200-day simple moving average is $21.48. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. NextEra Energy Partners has a 12 month low of $9.98 and a 12 month high of $35.15. The stock has a market cap of $987.21 million, a P/E ratio of -105.55 and a beta of 1.03.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results 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 net margin of 0.73% and a positive return on equity of 1.34%. As a group, sell-side analysts forecast that NextEra Energy Partners will post 1.54 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in NEP. Brown Miller Wealth Management LLC increased its stake in NextEra Energy Partners by 2.4% in the third quarter. Brown Miller Wealth Management LLC now owns 18,459 shares of the solar energy provider’s stock valued at $509,000 after acquiring an additional 433 shares during the period. Apollon Wealth Management LLC increased its stake in NextEra Energy Partners by 5.7% in the third quarter. Apollon Wealth Management LLC now owns 12,306 shares of the solar energy provider’s stock valued at $340,000 after acquiring an additional 667 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in NextEra Energy Partners by 150.4% in 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 acquiring an additional 1,000 shares during the period. Truist Financial Corp increased its stake in NextEra Energy Partners by 10.1% in the fourth quarter. Truist Financial Corp now owns 11,434 shares of the solar energy provider’s stock valued at $204,000 after acquiring an additional 1,049 shares during the period. Finally, Creative Planning increased 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. 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.