Nextera Energy Partners LP (NYSE:NEP) saw a significant growth in short interest in September. As of September 30th, there was short interest totalling 1,260,000 shares, a growth of 12.5% from the August 30th total of 1,120,000 shares. Currently, 2.3% of the shares of the company are short sold. Based on an average trading volume of 293,400 shares, the short-interest ratio is currently 4.3 days.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Artemis Investment Management LLP raised its holdings in Nextera Energy Partners by 33.0% during the third quarter. Artemis Investment Management LLP now owns 838,200 shares of the solar energy provider’s stock worth $43,603,000 after purchasing an additional 207,900 shares in the last quarter. Enterprise Bank & Trust Co raised its holdings in Nextera Energy Partners by 3.9% during the third quarter. Enterprise Bank & Trust Co now owns 43,149 shares of the solar energy provider’s stock worth $2,280,000 after purchasing an additional 1,639 shares in the last quarter. Natixis raised its holdings in Nextera Energy Partners by 16.6% during the second quarter. Natixis now owns 94,000 shares of the solar energy provider’s stock worth $4,536,000 after purchasing an additional 13,351 shares in the last quarter. Verition Fund Management LLC purchased a new position in Nextera Energy Partners during the second quarter worth about $2,413,000. Finally, OneAscent Financial Services LLC purchased a new position in Nextera Energy Partners during the second quarter worth about $354,000. 80.45% of the stock is owned by hedge funds and other institutional investors.

NEP has been the subject of several research analyst reports. Barclays upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $52.00 to $61.00 in a research note on Tuesday, October 8th. Credit Suisse Group upped their price objective on shares of Nextera Energy Partners from $52.00 to $53.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. ValuEngine downgraded shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a research note on Thursday, October 3rd. Zacks Investment Research upgraded shares of Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 price objective for the company in a research note on Thursday, October 3rd. Finally, Wells Fargo & Co upped their price objective on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the company an “outperform” rating in a research note on Tuesday, October 1st. Three investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $54.00.

Shares of NYSE:NEP traded down $0.11 on Wednesday, reaching $50.41. The company’s stock had a trading volume of 2,253 shares, compared to its average volume of 435,946. The stock’s 50-day moving average is $51.49 and its two-hundred day moving average is $48.54. Nextera Energy Partners has a 52-week low of $39.35 and a 52-week high of $53.90. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.38 and a quick ratio of 1.38. The stock has a market capitalization of $2.84 billion, a P/E ratio of 17.35, a PEG ratio of 14.66 and a beta of 0.91.

Nextera Energy Partners (NYSE:NEP) last announced its earnings results on Wednesday, July 24th. The solar energy provider reported ($0.49) EPS for the quarter, missing analysts’ consensus estimates of $0.48 by ($0.97). Nextera Energy Partners had a negative net margin of 2.88% and a negative return on equity of 0.44%. The business had revenue of $219.00 million during the quarter, compared to analysts’ expectations of $292.21 million. Equities analysts forecast that Nextera Energy Partners will post 0.38 earnings per share for the current fiscal year.

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 and solar projects with approximately 4,859 megawatts of capacity, as well as seven contracted natural gas pipeline assets.

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