NextEra Energy Partners LP (NYSE:NEP) Given Average Rating of “Hold” by Analysts
Shares of NextEra Energy Partners LP (NYSE:NEP) have received a consensus rating of “Hold” from the eleven ratings firms that are covering the stock. One analyst has rated the stock with a sell recommendation, six have issued a hold recommendation and four have given a buy recommendation to the company. The average 1-year price objective among analysts that have issued ratings on the stock in the last year is $31.22.
A number of equities analysts have issued reports on NEP shares. Zacks Investment Research cut NextEra Energy Partners from a “hold” rating to a “sell” rating in a report on Tuesday, July 19th. Avondale Partners cut NextEra Energy Partners from an “outperform” rating to a “market perform” rating in a report on Thursday, July 28th. Barclays PLC reaffirmed a “buy” rating and issued a $34.00 target price on shares of NextEra Energy Partners in a report on Monday, September 12th. Finally, Oppenheimer Holdings Inc. started coverage on NextEra Energy Partners in a research note on Thursday, September 8th. They issued an “outperform” rating and a $34.00 price target for the company.
NextEra Energy Partners (NYSE:NEP) traded up 0.989% during trading on Friday, hitting $27.055. The stock had a trading volume of 371,932 shares. The firm has a market capitalization of $1.14 billion, a P/E ratio of 45.934 and a beta of 1.34. NextEra Energy Partners has a one year low of $22.25 and a one year high of $32.42. The stock has a 50 day moving average of $29.10 and a 200 day moving average of $28.95.
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NextEra Energy Partners (NYSE:NEP) last issued its earnings results on Wednesday, July 27th. The company reported $0.19 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.33 by $0.14. NextEra Energy Partners had a return on equity of 1.12% and a net margin of 3.28%. The firm earned $171 million during the quarter, compared to analyst estimates of $195.70 million. During the same period in the previous year, the company earned $0.16 EPS. Equities research analysts expect that NextEra Energy Partners will post $1.05 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the company. Cubist Systematic Strategies LLC raised its stake in shares of NextEra Energy Partners by 1.0% in the second quarter. Cubist Systematic Strategies LLC now owns 3,304 shares of the company’s stock worth $100,000 after buying an additional 32 shares during the last quarter. Royal Bank of Canada raised its position in shares of NextEra Energy Partners by 2,439.2% in the first quarter. Royal Bank of Canada now owns 5,510 shares of the company’s stock worth $150,000 after buying an additional 5,293 shares during the last quarter. Fox Run Management L.L.C. purchased a new position in shares of NextEra Energy Partners during the second quarter worth $355,000. BlackRock Fund Advisors raised its position in shares of NextEra Energy Partners by 158.7% in the first quarter. BlackRock Fund Advisors now owns 13,643 shares of the company’s stock worth $371,000 after buying an additional 8,370 shares during the last quarter. Finally, Boston Common Asset Management LLC purchased a new position in shares of NextEra Energy Partners during the second quarter worth $386,000. Institutional investors and hedge funds own 68.24% of the company’s stock.
NextEra Energy Partners Company Profile
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as approximately seven contracted natural gas pipeline assets.
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