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

Investment analysts at StockNews.com began coverage on shares of Nextera Energy Partners (NYSE:NEP) in a research note issued to investors on Saturday. The brokerage set a “sell” rating on the stock.

Other equities analysts have also recently issued reports about the company. Barclays reduced their price target on Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, February 3rd. Morgan Stanley restated an “underweight” rating and issued a $13.00 target price (down previously from $22.00) on shares of Nextera Energy Partners in a report on Monday, February 3rd.

Nextera Energy Partners Price Performance

Nextera Energy Partners has a 52 week low of $9.98 and a 52 week high of $35.15. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $983.47 million, a P/E ratio of -105.15 and a beta of 1.03.

Institutional Investors Weigh In On Nextera Energy Partners

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