A number of research firms have changed their ratings and price targets for Nextera Energy Partners (NYSE: NEP):

  • 9/25/2018 – Nextera Energy Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. 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.”
  • 9/20/2018 – Nextera Energy Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $54.00 price target on the stock. 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.”
  • 9/17/2018 – Nextera Energy Partners had its price target raised by analysts at Wells Fargo & Co from $50.00 to $55.00. They now have an “outperform” rating on the stock.
  • 9/11/2018 – Nextera Energy Partners had its price target raised by analysts at Morgan Stanley from $50.00 to $51.00. They now have a “hold” rating on the stock.
  • 8/13/2018 – Nextera Energy Partners is now covered by analysts at Mizuho. They set a “buy” rating and a $54.50 price target on the stock.
  • 8/2/2018 – Nextera Energy Partners was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 8/1/2018 – Nextera Energy Partners was downgraded by analysts at Zacks Investment Research from a “buy” rating to a “hold” rating. According to Zacks, “In the past six months, NextEra Energy’ 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 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.”
  • 7/30/2018 – Nextera Energy Partners was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “buy” rating. They now have a $53.00 price target on the stock. According to Zacks, “In the past six months, NextEra Energy’ units have outperformed its industry's growth. The company’s earnings per unit in the second quarter were better than expected, due to contribution from its new projects. 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 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.”

Shares of NEP opened at $47.81 on Wednesday. The company has a market cap of $2.64 billion, a P/E ratio of 72.44, a price-to-earnings-growth ratio of 1.82 and a beta of 1.20. The company has a debt-to-equity ratio of 1.05, a quick ratio of 4.59 and a current ratio of 4.59. Nextera Energy Partners LP has a twelve month low of $36.42 and a twelve month high of $50.66.

Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Wednesday, July 25th. The solar energy provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $0.48 by $0.95. The firm had revenue of $225.00 million for the quarter, compared to analyst estimates of $278.31 million. Nextera Energy Partners had a net margin of 8.88% and a return on equity of 6.86%. analysts predict that Nextera Energy Partners LP will post 2.96 earnings per share for the current year.

A number of institutional investors and hedge funds have recently modified their holdings of NEP. Public Employees Retirement System of Ohio acquired a new position in Nextera Energy Partners during the second quarter valued at approximately $1,948,000. Jane Street Group LLC acquired a new position in Nextera Energy Partners during the second quarter valued at approximately $228,000. Lake Street Advisors Group LLC acquired a new position in Nextera Energy Partners during the second quarter valued at approximately $985,000. Morgan Stanley grew its holdings in Nextera Energy Partners by 1.6% during the second quarter. Morgan Stanley now owns 762,544 shares of the solar energy provider’s stock valued at $35,589,000 after purchasing an additional 11,685 shares during the last quarter. Finally, Natixis grew its holdings in Nextera Energy Partners by 35.0% during the second quarter. Natixis now owns 82,527 shares of the solar energy provider’s stock valued at $3,852,000 after purchasing an additional 21,394 shares during the last quarter. 83.68% of the stock is currently owned by hedge funds and other institutional investors.

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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