Nextera Energy Partners (NYSE:NEP) Downgraded by ValuEngine

ValuEngine lowered shares of Nextera Energy Partners (NYSE:NEP) from a buy rating to a hold rating in a report released on Tuesday morning, ValuEngine reports.

Other analysts have also recently issued research reports about the company. Wells Fargo & Co boosted their target price on Nextera Energy Partners from $60.00 to $62.00 and gave the stock an outperform rating in a report on Tuesday, October 1st. Zacks Investment Research upgraded shares of Nextera Energy Partners from a strong sell rating to a hold rating and set a $55.00 price target on the stock in a report on Thursday, October 3rd. Barclays raised shares of Nextera Energy Partners from an equal weight rating to an overweight rating and upped their price target for the stock from $52.00 to $61.00 in a research report on Tuesday, October 8th. Finally, Credit Suisse Group increased their price target on Nextera Energy Partners from $52.00 to $53.00 and gave the company an outperform rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $54.00.

Nextera Energy Partners stock traded down $0.06 during midday trading on Tuesday, reaching $52.99. The stock had a trading volume of 288,488 shares, compared to its average volume of 299,174. The stock’s 50-day simple moving average is $52.12 and its 200 day simple moving average is $49.98. Nextera Energy Partners has a twelve month low of $39.35 and a twelve month high of $53.90. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a market capitalization of $3.22 billion, a PE ratio of 18.21 and a beta of 0.89.

Nextera Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($1.61). The firm had revenue of $253.00 million for the quarter, compared to analyst estimates of $354.51 million. Nextera Energy Partners had a negative return on equity of 2.49% and a negative net margin of 16.67%. During the same quarter in the prior year, the company earned $0.58 earnings per share. Equities analysts predict that Nextera Energy Partners will post -1.43 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, November 14th. Shareholders of record on Wednesday, November 6th were given a $0.517 dividend. This is a boost from Nextera Energy Partners’s previous quarterly dividend of $0.50. This represents a $2.07 dividend on an annualized basis and a yield of 3.90%. The ex-dividend date was Tuesday, November 5th. Nextera Energy Partners’s dividend payout ratio is presently 71.13%.

In other Nextera Energy Partners news, Director Peter H. Kind purchased 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average price of $51.78 per share, for a total transaction of $51,780.00. Following the completion of the purchase, the director now owns 19,590 shares in the company, valued at approximately $1,014,370.20. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.61% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the company. AGF Investments LLC bought a new stake in shares of Nextera Energy Partners in the second quarter worth $49,000. CWM LLC acquired a new position in Nextera Energy Partners during the 3rd quarter worth $53,000. Steward Partners Investment Advisory LLC acquired a new position in Nextera Energy Partners during the 2nd quarter worth $57,000. Cubist Systematic Strategies LLC acquired a new position in Nextera Energy Partners during the 2nd quarter worth $57,000. Finally, Tower Research Capital LLC TRC increased its position in shares of Nextera Energy Partners by 394.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,587 shares of the solar energy provider’s stock worth $77,000 after purchasing an additional 1,266 shares during the last quarter. 76.83% of the stock is owned by institutional investors and hedge funds.

Nextera Energy Partners Company Profile

NextEra Energy Partners, LP acquires, owns, and manages contracted clean energy projects in the United States. It owns a portfolio of contracted renewable generation assets consisting of wind and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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Analyst Recommendations for Nextera Energy Partners (NYSE:NEP)

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