Wells Fargo & Company Issues Pessimistic Forecast for NextEra Energy Partners (NYSE:NEP) Stock Price

NextEra Energy Partners (NYSE:NEP) had its target price trimmed by Wells Fargo & Company from $33.00 to $13.00 in a research note published on Wednesday,Benzinga reports. The brokerage currently has an equal weight rating on the solar energy provider’s stock.

A number of other research firms have also recently commented on NEP. CIBC decreased their price target on 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. BMO Capital Markets reissued a “market perform” rating and set a $18.00 target price (down previously from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Scotiabank dropped their target price on NextEra Energy Partners from $26.00 to $15.00 and set a “sector perform” rating for the company in a research report on Thursday, December 12th. 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 research report on Wednesday, October 9th. Finally, Evercore ISI dropped their price objective on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Three analysts have rated the stock with a sell rating, thirteen have given a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $22.07.

NextEra Energy Partners Price Performance

NYSE:NEP opened at $10.51 on Wednesday. The company has a market capitalization of $982.53 million, a P/E ratio of 4.82 and a beta of 1.06. NextEra Energy Partners has a 52 week low of $10.32 and a 52 week high of $35.15. The stock’s fifty day moving average is $17.31 and its two-hundred day moving average is $21.76. The company has a quick ratio of 1.78, a current ratio of 2.02 and a debt-to-equity ratio of 0.37.

NextEra Energy Partners (NYSE:NEP) last announced its quarterly earnings results on Tuesday, January 28th. The solar energy provider reported $0.99 earnings per share 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 analysts expect that NextEra Energy Partners will post 2.06 EPS for the current year.

Institutional Trading of NextEra Energy Partners

Hedge funds and other institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. boosted its holdings 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 valued at $46,000 after buying an additional 1,000 shares in the last quarter. Eastern Bank purchased a new stake in NextEra Energy Partners in the third quarter valued at $57,000. McIlrath & Eck LLC acquired a new position in NextEra Energy Partners in the third quarter valued at $63,000. Avion Wealth boosted its stake in NextEra Energy Partners by 610.2% in the fourth quarter. Avion Wealth now owns 2,642 shares of the solar energy provider’s stock valued at $47,000 after acquiring an additional 2,270 shares in the last quarter. Finally, Central Pacific Bank Trust Division increased its position in shares of NextEra Energy Partners by 153.1% during the fourth quarter. Central Pacific Bank Trust Division now owns 6,200 shares of the solar energy provider’s stock worth $110,000 after purchasing an additional 3,750 shares in the last quarter. 66.01% of the stock is currently owned by institutional investors and hedge funds.

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, 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.