Nextera Energy Partners (NYSE:NEP) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Friday.

According to Zacks, “If prices of natural gas continue to fluctuate, it will hurt NextEra Energy Partners as the demand for new pipeline projects will be adversely impacted. Stringent rules and regulations, along with dependence on a limited group of customers to generate earnings are headwinds.  However, NextEra Energy Partners’ units have outperformed its industry in the past 12 months.  NextEra Energy Partners’ renewable assets in the United States have long-term contracts and enjoy the benefits of government initiatives to produce higher volume of electricity from clean sources. NextEra Energy Partners acquisition of nearly 1.4GW of renewable assets from Energy Resources diversified the partnership’s existing portfolio of renewable assets. The decision to sell its Canadian assets and focus on high quality domestic renewable assets is expected to be accretive to long-term goal.”

NEP has been the topic of several other reports. Barclays initiated coverage on Nextera Energy Partners in a report on Thursday, February 7th. They issued an “overweight” rating and a $49.00 target price on the stock. Macquarie raised Nextera Energy Partners from a “neutral” rating to an “outperform” rating and reduced their target price for the stock from $47.00 to $44.00 in a report on Monday, February 4th. TheStreet downgraded Nextera Energy Partners from a “b-” rating to a “c+” rating in a report on Friday, January 25th. Finally, ValuEngine raised Nextera Energy Partners from a “hold” rating to a “buy” rating in a report on Tuesday, March 5th. One research analyst has rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $47.28.

Shares of NEP opened at $46.13 on Friday. The company has a market capitalization of $2.59 billion, a PE ratio of 15.85, a price-to-earnings-growth ratio of 2.43 and a beta of 0.95. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.40 and a current ratio of 0.40. Nextera Energy Partners has a one year low of $38.05 and a one year high of $50.66.

Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Friday, January 25th. The solar energy provider reported ($0.39) EPS for the quarter, missing the consensus estimate of $0.49 by ($0.88). The business had revenue of $155.00 million during the quarter, compared to analyst estimates of $276.40 million. Nextera Energy Partners had a return on equity of 4.83% and a net margin of 23.25%. During the same period in the previous year, the firm earned $0.18 earnings per share. On average, sell-side analysts expect that Nextera Energy Partners will post 2.12 EPS for the current fiscal year.

A number of hedge funds have recently bought and sold shares of the stock. Energy Income Partners LLC raised its position in Nextera Energy Partners by 4.6% in the 4th quarter. Energy Income Partners LLC now owns 5,308,457 shares of the solar energy provider’s stock worth $228,529,000 after purchasing an additional 231,455 shares during the last quarter. Jennison Associates LLC raised its position in Nextera Energy Partners by 25.7% in the 4th quarter. Jennison Associates LLC now owns 2,970,806 shares of the solar energy provider’s stock worth $127,893,000 after purchasing an additional 607,174 shares during the last quarter. Reaves W H & Co. Inc. raised its position in Nextera Energy Partners by 20.6% in the 4th quarter. Reaves W H & Co. Inc. now owns 1,946,182 shares of the solar energy provider’s stock worth $83,783,000 after purchasing an additional 332,984 shares during the last quarter. FMR LLC raised its position in Nextera Energy Partners by 20.2% in the 4th quarter. FMR LLC now owns 1,477,258 shares of the solar energy provider’s stock worth $63,596,000 after purchasing an additional 248,216 shares during the last quarter. Finally, 1832 Asset Management L.P. raised its position in Nextera Energy Partners by 8.6% in the 4th quarter. 1832 Asset Management L.P. now owns 1,277,513 shares of the solar energy provider’s stock worth $54,991,000 after purchasing an additional 100,700 shares during the last quarter. Hedge funds and other institutional investors own 82.91% of the company’s stock.

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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