NextEra Energy Partners, LP (NEP) Stock Rating Lowered by BidaskClub
NextEra Energy Partners, LP (NYSE:NEP) was downgraded by equities research analysts at BidaskClub from a “strong-buy” rating to a “buy” rating in a note issued to investors on Thursday.
NEP has been the subject of several other reports. Vetr upgraded NextEra Energy Partners, from a “hold” rating to a “buy” rating and set a $37.00 price objective for the company in a research note on Monday, May 15th. Barclays PLC restated an “overweight” rating and issued a $39.00 price objective (up from $34.00) on shares of NextEra Energy Partners, in a research note on Sunday, April 23rd. Zacks Investment Research cut NextEra Energy Partners, from a “hold” rating to a “sell” rating in a research note on Wednesday, April 26th. Williams Capital initiated coverage on NextEra Energy Partners, in a research note on Thursday, June 1st. They issued a “buy” rating and a $45.00 price objective for the company. Finally, Deutsche Bank AG restated a “buy” rating and issued a $42.00 price objective (up from $39.00) on shares of NextEra Energy Partners, in a research note on Thursday, July 27th. Five equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $38.57.
NextEra Energy Partners, (NYSE:NEP) traded up 1.32% during trading on Thursday, hitting $38.30. The stock had a trading volume of 403,499 shares. The stock’s 50-day moving average is $38.70 and its 200-day moving average is $34.26. NextEra Energy Partners, has a 52-week low of $23.90 and a 52-week high of $41.49. The stock has a market capitalization of $2.08 billion, a PE ratio of 21.09 and a beta of 1.26.
NextEra Energy Partners, (NYSE:NEP) last announced its quarterly earnings data on Wednesday, July 26th. The solar energy provider reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by $0.19. NextEra Energy Partners, had a return on equity of 4.74% and a net margin of 13.77%. The firm had revenue of $204 million during the quarter, compared to analysts’ expectations of $232.03 million. On average, analysts predict that NextEra Energy Partners, will post $1.58 earnings per share for the current fiscal year.
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In related news, insider Armando Pimentel, Jr. bought 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 14th. The shares were purchased at an average cost of $38.23 per share, with a total value of $191,150.00. Following the completion of the acquisition, the insider now directly owns 20,000 shares in the company, valued at $764,600. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Mark E. Hickson bought 1,350 shares of the company’s stock in a transaction that occurred on Wednesday, July 5th. The shares were bought at an average cost of $37.51 per share, for a total transaction of $50,638.50. Following the completion of the acquisition, the executive vice president now owns 4,780 shares of the company’s stock, valued at $179,297.80. The disclosure for this purchase can be found here. 0.46% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in NextEra Energy Partners, by 10.4% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 3,172 shares of the solar energy provider’s stock valued at $117,000 after buying an additional 298 shares during the period. BNP Paribas Arbitrage SA bought a new stake in NextEra Energy Partners, during the first quarter valued at approximately $139,000. US Bancorp DE raised its stake in NextEra Energy Partners, by 2,000.0% in the second quarter. US Bancorp DE now owns 4,200 shares of the solar energy provider’s stock valued at $155,000 after buying an additional 4,000 shares during the period. Aveo Capital Partners LLC bought a new stake in NextEra Energy Partners, during the first quarter valued at approximately $202,000. Finally, Venturi Wealth Management LLC bought a new stake in NextEra Energy Partners, during the first quarter valued at approximately $207,000. 85.26% of the stock is currently owned by hedge funds and other institutional investors.
About NextEra Energy Partners,
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP (NEP OpCo), owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets.
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