Stock analysts at Credit Suisse Group began coverage on shares of NextEra Energy Partners (NYSE:NEP) in a report issued on Thursday, MarketBeat Ratings reports. The firm set an “outperform” rating and a $44.00 price target on the solar energy provider’s stock. Credit Suisse Group’s target price indicates a potential upside of 11.79% from the company’s current price.

NEP has been the topic of several other reports. TheStreet lowered shares of NextEra Energy Partners from a “b” rating to a “c+” rating in a research note on Thursday, October 26th. Barclays reissued an “overweight” rating and set a $44.00 target price (up from $39.00) on shares of NextEra Energy Partners in a research note on Thursday, August 31st. Bank of America reissued an “underperform” rating and set a $35.00 target price on shares of NextEra Energy Partners in a research note on Tuesday, October 24th. J P Morgan Chase & Co cut their target price on shares of NextEra Energy Partners from $39.00 to $38.00 and set a “neutral” rating on the stock in a research note on Thursday, October 12th. Finally, Royal Bank Of Canada reissued a “hold” rating and set a $39.00 target price on shares of NextEra Energy Partners in a research note on Tuesday, October 10th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and eight have assigned a buy rating to the company. NextEra Energy Partners has an average rating of “Hold” and an average price target of $39.45.

NextEra Energy Partners (NEP) traded up $0.48 during trading hours on Thursday, hitting $39.36. 178,472 shares of the stock were exchanged, compared to its average volume of 276,135. The company has a debt-to-equity ratio of 2.04, a quick ratio of 3.20 and a current ratio of 3.20. NextEra Energy Partners has a 12 month low of $23.90 and a 12 month high of $44.00. The company has a market cap of $2,041.46, a price-to-earnings ratio of 27.27, a P/E/G ratio of 3.85 and a beta of 1.19.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Thursday, October 26th. The solar energy provider reported $0.01 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.36). NextEra Energy Partners had a net margin of 10.38% and a return on equity of 3.57%. The firm had revenue of $177.00 million during the quarter, compared to the consensus estimate of $243.16 million. equities analysts expect that NextEra Energy Partners will post 0.91 EPS for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in NEP. Beach Investment Management LLC. raised its holdings in NextEra Energy Partners by 1,005.7% during the second quarter. Beach Investment Management LLC. now owns 1,329,958 shares of the solar energy provider’s stock worth $49,195,000 after buying an additional 1,209,675 shares during the last quarter. Duff & Phelps Investment Management Co. acquired a new position in NextEra Energy Partners during the second quarter worth $28,000,000. Janus Henderson Group PLC acquired a new position in NextEra Energy Partners during the second quarter worth $17,150,000. BlackRock Inc. raised its holdings in NextEra Energy Partners by 9.9% during the second quarter. BlackRock Inc. now owns 3,262,280 shares of the solar energy provider’s stock worth $120,672,000 after buying an additional 293,830 shares during the last quarter. Finally, Eaton Vance Management raised its holdings in NextEra Energy Partners by 51.3% during the second quarter. Eaton Vance Management now owns 642,071 shares of the solar energy provider’s stock worth $23,750,000 after buying an additional 217,787 shares during the last quarter. Hedge funds and other institutional investors own 83.49% of the company’s stock.

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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 contracted natural gas pipeline assets.

Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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