NextEra Energy Partners (NYSE:NEP) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage currently has a $47.00 price objective on the solar energy provider’s stock. Morgan Stanley’s price target would suggest a potential upside of 10.25% from the company’s current price.
NEP has been the topic of a number of other reports. Bank of America reiterated an “underperform” rating and set a $35.00 target price on shares of NextEra Energy Partners in a research note on Tuesday, October 24th. Barclays reiterated 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. Credit Suisse Group started coverage on NextEra Energy Partners in a research note on Thursday, December 7th. They set an “outperform” rating and a $44.00 target price on the stock. TheStreet cut NextEra Energy Partners from a “b” rating to a “c+” rating in a research note on Thursday, October 26th. Finally, Zacks Investment Research cut NextEra Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, September 29th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $40.03.
NextEra Energy Partners (NEP) traded up $0.48 during midday trading on Tuesday, hitting $42.63. The stock had a trading volume of 303,118 shares, compared to its average volume of 214,448. The company has a market cap of $2,310.00, a PE ratio of 30.89, a price-to-earnings-growth ratio of 4.36 and a beta of 1.19. NextEra Energy Partners has a 12 month low of $23.90 and a 12 month high of $44.00. The company has a quick ratio of 3.20, a current ratio of 3.20 and a debt-to-equity ratio of 2.04.
A number of institutional investors have recently made changes to their positions in NEP. Vanguard Group Inc. raised its stake in NextEra Energy Partners by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 231,951 shares of the solar energy provider’s stock valued at $7,685,000 after acquiring an additional 4,021 shares during the period. Credit Suisse AG grew its holdings in NextEra Energy Partners by 1.8% during the 1st quarter. Credit Suisse AG now owns 44,883 shares of the solar energy provider’s stock valued at $1,487,000 after buying an additional 772 shares in the last quarter. US Bancorp DE grew its holdings in NextEra Energy Partners by 2,000.0% during the 2nd quarter. US Bancorp DE now owns 4,200 shares of the solar energy provider’s stock valued at $155,000 after buying an additional 4,000 shares in the last quarter. Beach Investment Management LLC. grew its holdings in NextEra Energy Partners by 1,005.7% during the 2nd quarter. Beach Investment Management LLC. now owns 1,329,958 shares of the solar energy provider’s stock valued at $49,195,000 after buying an additional 1,209,675 shares in the last quarter. Finally, Global X Management Co. LLC grew its holdings in NextEra Energy Partners by 47.9% during the 2nd quarter. Global X Management Co. LLC now owns 17,704 shares of the solar energy provider’s stock valued at $655,000 after buying an additional 5,733 shares in the last quarter. Institutional investors and hedge funds own 83.49% of the company’s stock.
ILLEGAL ACTIVITY NOTICE: “NextEra Energy Partners (NEP) Rating Increased to Overweight at Morgan Stanley” was published by American Market News and is owned by of American Market News. If you are viewing this news story on another site, it was illegally copied and republished in violation of United States & international trademark & copyright laws. The original version of this news story can be viewed at https://www.americanbankingnews.com/2017/12/17/nextera-energy-partners-nep-rating-increased-to-overweight-at-morgan-stanley.html.
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.
