Nextera Energy Partners (NYSE:NEP) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.

According to Zacks, “In the past six months, NextEra Energy  Partners’ units have outperformed its industry's growth. NextEra Energy Partners is poised to gain from higher usage of natural gas, resulting in increased demand for its pipeline services in Texas. The partnership’s 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. The decision to sell its Canadian assets and focus on high quality domestic renewable assets is expected to be accretive to long-term goal. However, if prices of natural gas and other traditional fuel sources continue to remain low, it will impact demand for the renewable energy projects. Stringent rules and regulations, and dependence on a limited group of customers to generate earnings are headwinds.”

Several other research firms also recently commented on NEP. Morgan Stanley increased their target price on shares of Nextera Energy Partners from $50.00 to $51.00 and gave the stock a “hold” rating in a research report on Tuesday, September 11th. Raymond James downgraded Nextera Energy Partners from an “outperform” rating to a “market perform” rating and set a $35.00 price target on the stock. in a research report on Thursday, July 5th. ValuEngine downgraded Nextera Energy Partners from a “buy” rating to a “hold” rating in a research report on Thursday, August 2nd. Wells Fargo & Co raised their price target on Nextera Energy Partners from $50.00 to $55.00 and gave the company an “outperform” rating in a research report on Monday, September 17th. Finally, Howard Weil reaffirmed a “sector perform” rating on shares of Nextera Energy Partners in a research report on Tuesday, July 24th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $46.55.

Nextera Energy Partners stock traded down $0.24 during mid-day trading on Tuesday, hitting $47.63. 2,166 shares of the company’s stock were exchanged, compared to its average volume of 235,280. The company has a debt-to-equity ratio of 1.05, a current ratio of 4.59 and a quick ratio of 4.59. The company has a market capitalization of $2.64 billion, a price-to-earnings ratio of 72.17, a PEG ratio of 1.82 and a beta of 1.20. Nextera Energy Partners has a 1-year low of $36.42 and a 1-year high of $50.66.

Nextera Energy Partners (NYSE:NEP) last posted its earnings results on Wednesday, July 25th. The solar energy provider reported $1.43 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.48 by $0.95. The firm had revenue of $225.00 million for the quarter, compared to the consensus estimate of $278.31 million. Nextera Energy Partners had a net margin of 8.88% and a return on equity of 6.86%. sell-side analysts anticipate that Nextera Energy Partners will post 2.96 earnings per share for the current year.

Large investors have recently modified their holdings of the company. IFP Advisors Inc grew its position in shares of Nextera Energy Partners by 124.0% in the first quarter. IFP Advisors Inc now owns 2,558 shares of the solar energy provider’s stock valued at $102,000 after purchasing an additional 1,416 shares during the last quarter. Allen Capital Group LLC bought a new stake in shares of Nextera Energy Partners in the second quarter valued at about $208,000. Atria Investments LLC bought a new stake in shares of Nextera Energy Partners in the second quarter valued at about $224,000. Jane Street Group LLC bought a new stake in shares of Nextera Energy Partners in the second quarter valued at about $228,000. Finally, Commonwealth Equity Services LLC bought a new stake in shares of Nextera Energy Partners in the second quarter valued at about $240,000. 83.68% of the stock is currently owned by institutional investors.

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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