Investment analysts at Guggenheim initiated coverage on shares of NextEra Energy Partners (NYSE:NEP) in a research note issued to investors on Tuesday. The brokerage set a “buy” rating and a $45.00 price target on the solar energy provider’s stock. Guggenheim’s target price would indicate a potential upside of 4.38% from the company’s previous close.
Several other research firms also recently weighed in on NEP. Royal Bank of Canada reissued a “hold” rating and issued a $39.00 price target on shares of NextEra Energy Partners in a research note on Tuesday, October 10th. JPMorgan Chase & Co. lowered their price target on shares of NextEra Energy Partners from $39.00 to $38.00 and set a “neutral” rating for the company in a research note on Thursday, October 12th. Bank of America reissued an “underperform” rating and issued a $35.00 price target on shares of NextEra Energy Partners in a research note on Tuesday, October 24th. Zacks Investment Research downgraded shares of NextEra Energy Partners from a “hold” rating to a “sell” rating in a research note on Friday, September 29th. Finally, Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 price target for the company in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and ten have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $40.38.
NextEra Energy Partners (NEP) traded up $0.65 during trading on Tuesday, reaching $43.11. 156,300 shares of the company’s stock traded hands, compared to its average volume of 276,085. The company has a debt-to-equity ratio of 2.04, a current ratio of 3.20 and a quick ratio of 3.20. The company has a market capitalization of $2,338.76, a P/E ratio of 31.24, a PEG ratio of 4.41 and a beta of 1.20. NextEra Energy Partners has a 1-year low of $25.30 and a 1-year high of $44.00.
Large investors have recently modified their holdings of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of NextEra Energy Partners by 10.4% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the solar energy provider’s stock valued at $117,000 after acquiring an additional 298 shares during the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of NextEra Energy Partners by 14.3% during the second quarter. BNP Paribas Arbitrage SA now owns 4,800 shares of the solar energy provider’s stock valued at $178,000 after acquiring an additional 600 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of NextEra Energy Partners during the third quarter valued at about $203,000. Stephens Inc. AR bought a new position in shares of NextEra Energy Partners during the third quarter valued at about $206,000. Finally, Cubist Systematic Strategies LLC bought a new position in shares of NextEra Energy Partners during the third quarter valued at about $260,000. 83.49% of the stock is owned by hedge funds and other institutional investors.
COPYRIGHT VIOLATION WARNING: “NextEra Energy Partners (NEP) Coverage Initiated by Analysts at Guggenheim” was originally posted by American Banking and Market News and is the property of of American Banking and Market News. If you are reading this report on another site, it was illegally stolen and republished in violation of United States & international copyright and trademark legislation. The original version of this report can be viewed at https://www.americanbankingnews.com/2018/01/02/nextera-energy-partners-nep-coverage-initiated-by-analysts-at-guggenheim.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.
