Nextera Energy Partners LP (NYSE:NEP) Receives Consensus Recommendation of “Buy” from Brokerages

Nextera Energy Partners LP (NYSE:NEP) has earned an average rating of “Buy” from the thirteen ratings firms that are presently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 12 month target price among brokerages that have updated their coverage on the stock in the last year is $48.83.

Several analysts have weighed in on the stock. Goldman Sachs Group raised shares of Nextera Energy Partners from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $45.00 to $49.00 in a research note on Sunday, March 31st. Zacks Investment Research raised shares of Nextera Energy Partners from a “hold” rating to a “buy” rating and set a $52.00 price objective on the stock in a research note on Wednesday. ValuEngine raised shares of Nextera Energy Partners from a “hold” rating to a “buy” rating in a research note on Tuesday, March 5th. TheStreet raised shares of Nextera Energy Partners from a “c+” rating to a “b-” rating in a research note on Monday, March 25th. Finally, Barclays cut shares of Nextera Energy Partners from an “overweight” rating to an “equal weight” rating and set a $49.00 price objective on the stock. in a research note on Thursday, March 7th.

A number of institutional investors have recently modified their holdings of NEP. SG Americas Securities LLC bought a new stake in shares of Nextera Energy Partners during the fourth quarter valued at approximately $105,000. First Trust Advisors LP grew its stake in shares of Nextera Energy Partners by 4.5% during the fourth quarter. First Trust Advisors LP now owns 52,540 shares of the solar energy provider’s stock valued at $2,262,000 after purchasing an additional 2,258 shares during the last quarter. Stephens Inc. AR grew its stake in shares of Nextera Energy Partners by 8.4% during the fourth quarter. Stephens Inc. AR now owns 5,553 shares of the solar energy provider’s stock valued at $239,000 after purchasing an additional 430 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Nextera Energy Partners by 5.4% during the fourth quarter. Bank of New York Mellon Corp now owns 955,416 shares of the solar energy provider’s stock valued at $41,131,000 after purchasing an additional 49,302 shares during the last quarter. Finally, Bremer Trust National Association bought a new stake in shares of Nextera Energy Partners during the fourth quarter valued at approximately $79,000. 83.37% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:NEP opened at $48.25 on Friday. Nextera Energy Partners has a 12-month low of $39.35 and a 12-month high of $50.66. The company has a debt-to-equity ratio of 0.57, a current ratio of 0.38 and a quick ratio of 0.38. The firm has a market capitalization of $2.73 billion, a price-to-earnings ratio of 16.58, a PEG ratio of 3.43 and a beta of 0.91. The business has a 50-day simple moving average of $46.18.

Nextera Energy Partners (NYSE:NEP) last issued its quarterly earnings data on Tuesday, April 23rd. The solar energy provider reported ($0.38) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.90). The firm had revenue of $177.00 million for the quarter, compared to the consensus estimate of $316.31 million. Nextera Energy Partners had a return on equity of 2.17% and a net margin of 12.24%. Equities research analysts expect that Nextera Energy Partners will post 1.54 earnings per share for the current fiscal year.

About Nextera Energy Partners

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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