NextEra Energy Partners (NYSE:NEP) Cut to Sell at Zacks Investment Research

NextEra Energy Partners (NYSE:NEP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report issued on Wednesday, April 11th.

According to Zacks, “NextEra Energy Partners LP is engages in acquire, manage and own contracted clean energy projects. The company owns interests in wind and solar projects primarily in North America, as well as natural gas infrastructure assets in Texas. NextEra Energy Partners LP, formerly known as NextEra Energy, is based in Juno Beach, Florida. “

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Other analysts have also recently issued reports about the stock. ValuEngine upgraded shares of NextEra Energy Partners from a “hold” rating to a “buy” rating in a research note on Monday, April 2nd. Bank of America upgraded shares of NextEra Energy Partners from an “underperform” rating to a “buy” rating and lifted their target price for the company from $39.12 to $43.00 in a research note on Friday, March 16th. Guggenheim started coverage on shares of NextEra Energy Partners in a research note on Tuesday, January 2nd. They issued a “buy” rating and a $45.00 target price for the company. JPMorgan Chase reduced their target price on shares of NextEra Energy Partners from $40.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, April 10th. Finally, Morgan Stanley upgraded shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $47.00 target price for the company in a research note on Tuesday, December 12th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eleven have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $42.03.

NEP stock opened at $39.80 on Wednesday. The company has a quick ratio of 1.44, a current ratio of 1.44 and a debt-to-equity ratio of 2.54. The company has a market cap of $2,164.07, a P/E ratio of 60.30, a P/E/G ratio of 1.81 and a beta of 1.21. NextEra Energy Partners has a 52 week low of $32.01 and a 52 week high of $45.38.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Friday, January 26th. The solar energy provider reported $0.19 EPS for the quarter, missing the consensus estimate of $0.26 by ($0.07). The company had revenue of $197.00 million for the quarter, compared to analyst estimates of $251.41 million. NextEra Energy Partners had a positive return on equity of 1.80% and a negative net margin of 8.63%. During the same quarter in the prior year, the business posted ($0.23) earnings per share. analysts anticipate that NextEra Energy Partners will post 1.96 earnings per share for the current year.

Several institutional investors have recently modified their holdings of NEP. Public Employees Retirement Association of Colorado acquired a new stake in shares of NextEra Energy Partners in the fourth quarter worth $105,000. Teachers Advisors LLC lifted its stake in shares of NextEra Energy Partners by 181.3% in the fourth quarter. Teachers Advisors LLC now owns 2,757 shares of the solar energy provider’s stock worth $119,000 after buying an additional 1,777 shares during the last quarter. Cubist Systematic Strategies LLC acquired a new stake in shares of NextEra Energy Partners in the third quarter worth $260,000. HBK Investments L P lifted its stake in shares of NextEra Energy Partners by 34.4% in the fourth quarter. HBK Investments L P now owns 12,498 shares of the solar energy provider’s stock worth $539,000 after buying an additional 3,198 shares during the last quarter. Finally, Northern Trust Corp lifted its stake in shares of NextEra Energy Partners by 19.8% in the second quarter. Northern Trust Corp now owns 19,048 shares of the solar energy provider’s stock worth $705,000 after buying an additional 3,154 shares during the last quarter. Institutional investors and hedge funds own 83.22% of the company’s stock.

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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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