NextEra Energy Partners’ (NEP) Market Perform Rating Reaffirmed at Oppenheimer

NextEra Energy Partners (NYSE:NEP)‘s stock had its “market perform” rating reaffirmed by Oppenheimer in a report released on Wednesday, Benzinga reports.

Several other analysts also recently commented on the stock. Marathon Capitl restated an “equal weight” rating on shares of NextEra Energy Partners in a report on Tuesday, March 26th. Raymond James lowered their price objective on shares of NextEra Energy Partners from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, April 3rd. Evercore ISI began coverage on shares of NextEra Energy Partners in a report on Tuesday, February 13th. They issued an “outperform” rating and a $43.00 price objective on the stock. JPMorgan Chase & Co. lifted their price objective on shares of NextEra Energy Partners from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Friday, January 26th. Finally, Barclays began coverage on shares of NextEra Energy Partners in a report on Wednesday, April 10th. They issued an “equal weight” rating and a $32.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $43.88.

NextEra Energy Partners Stock Performance

Shares of NEP stock opened at $28.71 on Wednesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 1.28 and a current ratio of 1.33. The company has a market capitalization of $2.68 billion, a P/E ratio of 13.48 and a beta of 1.00. The company’s 50 day moving average price is $28.27 and its two-hundred day moving average price is $27.30. NextEra Energy Partners has a 52 week low of $20.17 and a 52 week high of $64.43.

NextEra Energy Partners (NYSE:NEP) last announced its earnings results on Tuesday, April 23rd. The solar energy provider reported $0.75 EPS for the quarter, topping the consensus estimate of $0.17 by $0.58. The firm had revenue of $257.00 million for the quarter, compared to the consensus estimate of $331.78 million. NextEra Energy Partners had a net margin of 16.00% and a negative return on equity of 1.06%. The business’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the company posted ($0.17) EPS. On average, analysts expect that NextEra Energy Partners will post 0.83 earnings per share for the current fiscal year.

Hedge Funds Weigh In On NextEra Energy Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC raised its stake in NextEra Energy Partners by 160.2% in the 4th quarter. CWM LLC now owns 830 shares of the solar energy provider’s stock valued at $25,000 after acquiring an additional 511 shares during the period. Richardson Financial Services Inc. bought a new position in NextEra Energy Partners during the fourth quarter worth $27,000. Hexagon Capital Partners LLC boosted its position in NextEra Energy Partners by 208.3% during the first quarter. Hexagon Capital Partners LLC now owns 928 shares of the solar energy provider’s stock worth $28,000 after purchasing an additional 627 shares during the period. MV Capital Management Inc. bought a new position in NextEra Energy Partners during the fourth quarter worth $30,000. Finally, Heritage Wealth Advisors bought a new position in NextEra Energy Partners during the fourth quarter worth $33,000. 66.01% of the stock is owned by institutional investors.

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.