Nextera Energy Partners’ Quiet Period Will Expire on August 6th (NYSE:NEP)
Nextera Energy Partners’ (NYSE:NEP) quiet period will expire on Wednesday, August 6th. Nextera Energy Partners had issued 16,250,000 shares in its IPO on June 27th, AnalystRatingsNetwork reports. The total size of the offering was $406,250,000 based on an initial share price of $25.00. During the company’s quiet period, insiders and any underwriters involved in the IPO are restricted from issuing any research reports or earnings estimates for the company because of SEC regulations. Following the expiration of the company’s quiet period, it’s expected that the brokerages that served as underwriters on the stock will initiate research coverage on the company.
A number of research firms have recently commented on NEP. Analysts at Wells Fargo & Co. initiated coverage on shares of Nextera Energy Partners in a research note on Wednesday. They set a “market perform” rating and a $34.98 price target on the stock. Separately, analysts at Barclays initiated coverage on shares of Nextera Energy Partners in a research note on Monday. They set an “overweight” rating and a $40.00 price target on the stock. Finally, analysts at Bank of America initiated coverage on shares of Nextera Energy Partners in a research note on Tuesday, July 22nd. They set a “buy” rating and a $44.00 price target on the stock. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $37.50.
Shares of Nextera Energy Partners (NYSE:NEP) traded down 0.71% during mid-day trading on Friday, hitting $33.80. 372,354 shares of the company’s stock traded hands. Nextera Energy Partners has a 52-week low of $31.32 and a 52-week high of $36.90. The stock’s 50-day moving average is $34.64 and its 200-day moving average is $34.64. The company has a market cap of $549.2 million and a price-to-earnings ratio of 17.85.
Nextera Energy Partners, LP owns, operates and acquires contracted clean energy projects with stable, long-term cash flows through its limited partner interest in NEE Operating LP.
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