NextEra Energy Partners (NYSE:NEP) Price Target Lowered to $13.00 at Wells Fargo & Company

NextEra Energy Partners (NYSE:NEP) had its target price reduced by Wells Fargo & Company from $33.00 to $13.00 in a note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “equal weight” rating on the solar energy provider’s stock. Wells Fargo & Company‘s target price would indicate a potential upside of 10.09% from the stock’s previous close.

Other analysts have also recently issued research reports about the company. Jefferies Financial Group reduced their price objective 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 cut 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 note on Monday, October 28th. BMO Capital Markets restated a “market perform” rating and issued a $18.00 price objective (down previously from $26.00) on shares of NextEra Energy Partners in a report on Monday, January 13th. Mizuho reduced their target price on shares of 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. Finally, JPMorgan Chase & Co. dropped their price target on shares of NextEra Energy Partners from $22.00 to $20.00 and set a “neutral” rating on the stock in a research note on Thursday, January 23rd. Three 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’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $23.73.

NextEra Energy Partners Trading Down 25.3 %

NYSE:NEP opened at $11.81 on Wednesday. The stock has a market cap of $1.10 billion, a PE ratio of 5.42 and a beta of 1.06. NextEra Energy Partners has a fifty-two week low of $10.69 and a fifty-two week high of $35.15. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. The stock’s 50-day moving average is $17.43 and its two-hundred day moving average is $21.84.

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

Institutional Trading of NextEra Energy Partners

Several hedge funds have recently added to or reduced their stakes in the business. Entropy Technologies LP grew its position in NextEra Energy Partners by 29.2% in the 4th quarter. Entropy Technologies LP now owns 28,675 shares of the solar energy provider’s stock worth $510,000 after purchasing an additional 6,488 shares during the last quarter. abrdn plc increased 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 acquiring an additional 130,000 shares during the period. Graham Capital Wealth Management LLC bought a new stake in shares of NextEra Energy Partners in the 4th quarter worth approximately $3,003,000. KPP Advisory Services LLC bought a new stake in shares of NextEra Energy Partners in the 4th quarter worth approximately $223,000. Finally, Everett Harris & Co. CA acquired a new position in shares of NextEra Energy Partners in the fourth quarter valued at $543,000. 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.