NextEra Energy Partners Sees Unusually High Options Volume (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) saw some unusual options trading activity on Wednesday. Investors purchased 23,538 put options on the stock. This is an increase of approximately 388% compared to the average volume of 4,826 put options.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Northwestern Mutual Wealth Management Co. lifted its position in shares of NextEra Energy Partners by 150.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 1,665 shares of the solar energy provider’s stock worth $46,000 after buying an additional 1,000 shares during the last quarter. Eastern Bank bought a new stake in NextEra Energy Partners in the 3rd quarter valued at about $57,000. McIlrath & Eck LLC bought a new stake in NextEra Energy Partners in the 3rd quarter valued at about $63,000. Avion Wealth lifted its position in NextEra Energy Partners by 610.2% in the 4th quarter. Avion Wealth now owns 2,642 shares of the solar energy provider’s stock valued at $47,000 after purchasing an additional 2,270 shares during the last quarter. Finally, Central Pacific Bank Trust Division lifted its position in NextEra Energy Partners by 153.1% in the 4th quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock valued at $110,000 after purchasing an additional 3,750 shares during the last quarter. 66.01% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Jefferies Financial Group reduced their price target on shares of NextEra Energy Partners from $25.00 to $15.00 and set a “buy” rating on the stock in a report on Wednesday. Mizuho reduced their price target on shares of NextEra Energy Partners from $33.00 to $26.00 and set a “neutral” rating on the stock in a report on Wednesday, October 9th. Wells Fargo & Company reduced their price target on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating on the stock in a report on Wednesday. CIBC reduced their price objective on shares of NextEra Energy Partners from $26.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, January 8th. Finally, BMO Capital Markets reissued a “market perform” rating and set a $18.00 price objective (down previously from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $22.07.

NextEra Energy Partners Price Performance

NEP opened at $10.51 on Thursday. The company has a fifty day simple moving average of $17.31 and a 200 day simple moving average of $21.76. The firm has a market cap of $982.53 million, a price-to-earnings ratio of 4.82 and a beta of 1.06. NextEra Energy Partners has a twelve month low of $10.32 and a twelve month high of $35.15. The company has a current ratio of 2.02, a quick ratio of 1.78 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. Equities research analysts expect that NextEra Energy Partners will post 2.06 EPS 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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.