Nextera Energy Partners (NYSE:NEP) was upgraded by analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a note issued to investors on Tuesday, MarketBeat Ratings reports. The brokerage presently has a $65.00 target price on the solar energy provider’s stock, up from their prior target price of $63.00. Goldman Sachs Group’s price objective points to a potential upside of 28.41% from the stock’s current price.
A number of other research firms have also recently commented on NEP. Morgan Stanley boosted their price target on Nextera Energy Partners from $53.00 to $54.00 and gave the stock an “equal weight” rating in a report on Wednesday, June 17th. ValuEngine downgraded Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Thursday, April 23rd. Zacks Investment Research raised Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $41.00 price objective on the stock in a research note on Monday, April 27th. Barclays downgraded Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $49.00 price objective on the stock. in a research note on Thursday, April 2nd. Finally, Raymond James raised Nextera Energy Partners from a “market perform” rating to an “outperform” rating and set a $63.00 price objective on the stock in a research note on Friday, March 13th. Six research analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. The stock presently has a consensus rating of “Buy” and an average target price of $56.88.
NYSE NEP opened at $50.62 on Tuesday. The stock’s 50 day moving average is $50.47 and its 200 day moving average is $51.03. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of 0.69. Nextera Energy Partners has a 12 month low of $29.01 and a 12 month high of $61.87. The stock has a market cap of $3.32 billion, a PE ratio of -11.03 and a beta of 1.15.
Nextera Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Wednesday, April 22nd. The solar energy provider reported ($3.39) EPS for the quarter, missing the Zacks’ consensus estimate of $0.20 by ($3.59). Nextera Energy Partners had a negative return on equity of 4.53% and a negative net margin of 31.46%. The business had revenue of $212.00 million during the quarter, compared to analysts’ expectations of $302.68 million. During the same period in the prior year, the firm posted ($0.38) earnings per share. The firm’s revenue for the quarter was up 19.8% on a year-over-year basis. On average, analysts forecast that Nextera Energy Partners will post -1.01 EPS for the current fiscal year.
Institutional investors have recently made changes to their positions in the business. CWM LLC bought a new position in Nextera Energy Partners in the 1st quarter valued at $31,000. HBC Financial Services PLLC bought a new position in Nextera Energy Partners in the 4th quarter valued at $42,000. Ladenburg Thalmann Financial Services Inc. grew its position in Nextera Energy Partners by 36.0% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 887 shares of the solar energy provider’s stock valued at $46,000 after acquiring an additional 235 shares during the last quarter. PNC Financial Services Group Inc. grew its position in Nextera Energy Partners by 37.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,130 shares of the solar energy provider’s stock valued at $60,000 after acquiring an additional 309 shares during the last quarter. Finally, NumerixS Investment Technologies Inc bought a new position in Nextera Energy Partners in the 4th quarter valued at $63,000. 82.69% of the stock is currently owned by institutional investors.
Nextera Energy Partners Company Profile
NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.
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