Nextera Energy Partners LP (NEP) Rating Reiterated by Barclays PLC
Barclays PLC reaffirmed their overweight rating on shares of Nextera Energy Partners LP (NYSE:NEP) in a research report released on Sunday morning. Barclays PLC currently has a $39.00 target price on the solar energy provider’s stock, up from their prior target price of $34.00.
A number of other equities analysts also recently weighed in on the stock. Deutsche Bank AG raised their target price on shares of Nextera Energy Partners from $33.00 to $35.00 and gave the company a buy rating in a research note on Tuesday, April 11th. Zacks Investment Research downgraded shares of Nextera Energy Partners from a strong-buy rating to a hold rating in a research note on Tuesday, April 4th. Goldman Sachs Group Inc downgraded shares of Nextera Energy Partners from a buy rating to a neutral rating and set a $34.00 target price for the company. in a research note on Wednesday, March 29th. Macquarie downgraded shares of Nextera Energy Partners from an outperform rating to a neutral rating in a research note on Thursday, March 23rd. Finally, Credit Suisse Group AG set a $40.00 target price on shares of Nextera Energy Partners and gave the company a buy rating in a research note on Saturday, March 11th. Four investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of Buy and an average target price of $35.33.
Nextera Energy Partners (NYSE:NEP) traded up 0.53% on Friday, hitting $32.42. The stock had a trading volume of 320,932 shares. The company has a market cap of $1.76 billion, a P/E ratio of 17.32 and a beta of 1.31. The stock’s 50-day moving average is $32.44 and its 200-day moving average is $28.71. Nextera Energy Partners has a 52-week low of $23.90 and a 52-week high of $34.00.
Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Friday, January 27th. The solar energy provider reported $0.91 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.32 by $0.59. Nextera Energy Partners had a net margin of 12.89% and a return on equity of 4.72%. The business earned $176 million during the quarter, compared to the consensus estimate of $230.29 million. During the same quarter last year, the firm earned $0.22 earnings per share. Analysts expect that Nextera Energy Partners will post $1.79 earnings per share for the current year.
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Several institutional investors have recently made changes to their positions in NEP. Doyle Wealth Management purchased a new stake in Nextera Energy Partners during the first quarter worth approximately $7,391,000. Berson & Corrado Investment Advisors LLC purchased a new stake in Nextera Energy Partners during the first quarter worth approximately $597,000. Osborn Williams & Donohoe LLC purchased a new stake in Nextera Energy Partners during the first quarter worth approximately $248,000. Luminus Management LLC purchased a new stake in Nextera Energy Partners during the fourth quarter worth approximately $4,218,000. Finally, Westwood Holdings Group Inc. boosted its stake in Nextera Energy Partners by 17.7% in the fourth quarter. Westwood Holdings Group Inc. now owns 36,725 shares of the solar energy provider’s stock worth $938,000 after buying an additional 5,525 shares during the last quarter. 83.78% of the stock is owned by institutional investors and hedge funds.
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.
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