NextEra Energy Partners, LP (NYSE:NEP) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a report issued on Friday.

NEP has been the topic of several other reports. Vetr raised NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $37.00 price target on the stock in a research note on Monday, May 15th. Deutsche Bank AG upped their price target on NextEra Energy Partners, from $33.00 to $35.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Barclays PLC reaffirmed an “overweight” rating and issued a $39.00 price target (up from $34.00) on shares of NextEra Energy Partners, in a research note on Sunday, April 23rd. Zacks Investment Research cut NextEra Energy Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Finally, Williams Capital initiated coverage on NextEra Energy Partners, in a research note on Thursday, June 1st. They issued a “buy” rating and a $45.00 price target on the stock. Five investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $38.57.

Shares of NextEra Energy Partners, (NYSE:NEP) traded down 0.10% during trading on Friday, hitting $40.36. The company had a trading volume of 92,533 shares. The firm has a market capitalization of $2.19 billion, a P/E ratio of 22.22 and a beta of 1.26. NextEra Energy Partners, has a 1-year low of $23.90 and a 1-year high of $41.49. The company’s 50 day moving average is $37.77 and its 200 day moving average is $33.72.

NextEra Energy Partners, (NYSE:NEP) last issued its quarterly earnings results on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.43 by $0.19. The firm had revenue of $204 million during the quarter, compared to analysts’ expectations of $232.03 million. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%. Analysts anticipate that NextEra Energy Partners, will post $1.58 earnings per share for the current fiscal year.

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In related news, insider Armando Pimentel, Jr. bought 5,000 shares of the business’s stock in a transaction dated Friday, July 14th. The shares were purchased at an average cost of $38.23 per share, with a total value of $191,150.00. Following the completion of the purchase, the insider now owns 20,000 shares in the company, valued at approximately $764,600. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Mark E. Hickson bought 1,350 shares of the business’s stock in a transaction dated Wednesday, July 5th. The stock was bought at an average cost of $37.51 per share, for a total transaction of $50,638.50. Following the completion of the purchase, the executive vice president now owns 4,780 shares of the company’s stock, valued at approximately $179,297.80. The disclosure for this purchase can be found here. Corporate insiders own 0.46% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. BNP Paribas Arbitrage SA acquired a new position in shares of NextEra Energy Partners, during the first quarter worth about $139,000. US Bancorp DE increased its position in shares of NextEra Energy Partners, by 2,000.0% in the second quarter. US Bancorp DE now owns 4,200 shares of the solar energy provider’s stock worth $155,000 after buying an additional 4,000 shares during the last quarter. Aveo Capital Partners LLC acquired a new position in shares of NextEra Energy Partners, during the first quarter worth about $202,000. Venturi Wealth Management LLC acquired a new position in shares of NextEra Energy Partners, during the first quarter worth about $207,000. Finally, RiverPoint Capital Management LLC acquired a new position in shares of NextEra Energy Partners, during the second quarter worth about $213,000. 85.26% of the stock is currently owned by hedge funds and other institutional investors.

About NextEra Energy Partners,

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 contracted natural gas pipeline assets.

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for NextEra Energy Partners, (NYSE:NEP)

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