Nextera Energy Partners (NEP) Rating Lowered to Hold at ValuEngine

Nextera Energy Partners (NYSE:NEP) was downgraded by investment analysts at ValuEngine from a “buy” rating to a “hold” rating in a note issued to investors on Thursday.

Other analysts have also issued reports about the stock. Zacks Investment Research lowered shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a research report on Wednesday. TheStreet upgraded shares of Nextera Energy Partners from a “c” rating to a “b-” rating in a research report on Wednesday, July 25th. Howard Weil restated a “sector perform” rating on shares of Nextera Energy Partners in a research report on Tuesday, July 24th. Guggenheim restated a “buy” rating and set a $50.00 price target on shares of Nextera Energy Partners in a research report on Monday, July 23rd. Finally, Morgan Stanley lowered shares of Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $50.00 price target for the company. in a research report on Monday, July 16th. Seven investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $44.22.

Nextera Energy Partners traded up $0.31, hitting $47.12, during midday trading on Thursday, Marketbeat reports. The company had a trading volume of 102,385 shares, compared to its average volume of 173,363. Nextera Energy Partners has a 52-week low of $36.42 and a 52-week high of $48.75. The firm has a market capitalization of $2.55 billion, a PE ratio of 71.39, a price-to-earnings-growth ratio of 1.88 and a beta of 1.20. The company has a debt-to-equity ratio of 1.05, a quick ratio of 4.59 and a current ratio of 4.59.

Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 25th. The solar energy provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.48 by $0.95. Nextera Energy Partners had a net margin of 8.88{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} and a return on equity of 6.86{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974}. The company had revenue of $225.00 million during the quarter, compared to analyst estimates of $278.31 million. sell-side analysts forecast that Nextera Energy Partners will post 2.77 EPS for the current fiscal year.

Several institutional investors have recently bought and sold shares of NEP. Summit Trail Advisors LLC boosted its holdings in shares of Nextera Energy Partners by 3,763.4{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} during the first quarter. Summit Trail Advisors LLC now owns 2,096,937 shares of the solar energy provider’s stock worth $2,097,000 after purchasing an additional 2,042,660 shares during the period. Neuberger Berman Group LLC raised its stake in Nextera Energy Partners by 6.6{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} in the first quarter. Neuberger Berman Group LLC now owns 8,428,746 shares of the solar energy provider’s stock worth $337,066,000 after buying an additional 520,952 shares in the last quarter. Neumeier Poma Investment Counsel LLC bought a new position in Nextera Energy Partners in the first quarter worth about $19,326,000. CHURCHILL MANAGEMENT Corp bought a new position in Nextera Energy Partners in the second quarter worth about $18,564,000. Finally, Kayne Anderson Capital Advisors LP raised its stake in Nextera Energy Partners by 36.1{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} in the first quarter. Kayne Anderson Capital Advisors LP now owns 653,075 shares of the solar energy provider’s stock worth $26,103,000 after buying an additional 173,081 shares in the last quarter. Institutional investors own 84.43{0b7da518931e2dc7f5435818fa9adcc81ac764ac1dff918ce2cdfc05099e9974} of the company’s stock.

About Nextera Energy Partners

NextEra Energy Partners, LP acquires, owns, and operates contracted clean energy projects in the United States and Canada. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 3,867 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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