Nextera Energy Partners (NYSE:NEP) Coverage Initiated at StockNews.com

StockNews.com began coverage on shares of Nextera Energy Partners (NYSE:NEP) in a report released on Friday. The brokerage set a “sell” rating on the stock.

NEP has been the subject of a number of other research reports. Morgan Stanley reissued an “underweight” rating and issued a $13.00 target price (down previously from $22.00) on shares of Nextera Energy Partners in a research note on Monday, February 3rd. Barclays dropped their price objective on Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating for the company in a research note on Monday, February 3rd.

Nextera Energy Partners Price Performance

The company has a debt-to-equity ratio of 0.37, a current ratio of 2.02 and a quick ratio of 1.78. Nextera Energy Partners has a one year low of $9.98 and a one year high of $35.15. The firm has a market cap of $983.47 million, a price-to-earnings ratio of -105.15 and a beta of 1.03.

Hedge Funds Weigh In On Nextera Energy Partners

Several hedge funds and other institutional investors have recently modified their holdings of the company. Natural Investments LLC purchased a new position in Nextera Energy Partners during the 4th quarter valued at about $504,000. Amundi increased its stake in shares of Nextera Energy Partners by 90.9% during the fourth quarter. Amundi now owns 414,240 shares of the company’s stock valued at $7,564,000 after buying an additional 197,286 shares during the period. Prescott Group Capital Management L.L.C. bought a new position in shares of Nextera Energy Partners during the fourth quarter valued at approximately $3,916,000. Finally, Raymond James Financial Inc. purchased a new stake in Nextera Energy Partners in the fourth quarter worth $9,163,000. 66.01% of the stock is owned by institutional investors.

About Nextera Energy Partners

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.