NextEra Energy Partners, LP (NYSE:NEP) Downgraded by ValuEngine to Hold
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.
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