Nextera Energy Partners LP (NYSE:NEP)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $54.33 and last traded at $54.20, with a volume of 69032 shares trading hands. The stock had previously closed at $53.41.
Several research analysts have commented on the company. Zacks Investment Research raised Nextera Energy Partners from a “strong sell” rating to a “hold” rating and set a $55.00 target price for the company in a research note on Thursday, October 3rd. Wells Fargo & Co lifted their price target on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the company an “outperform” rating in a report on Tuesday, October 1st. ValuEngine lowered shares of Nextera Energy Partners from a “buy” rating to a “hold” rating in a report on Tuesday, December 3rd. Barclays upgraded shares of Nextera Energy Partners from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $52.00 to $61.00 in a research report on Tuesday, October 8th. Finally, Mizuho reissued a “buy” rating and issued a $54.50 price objective (up previously from $45.00) on shares of Nextera Energy Partners in a research note on Friday, December 13th. Two equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus target price of $54.07.
The company has a debt-to-equity ratio of 0.64, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $3.26 billion, a P/E ratio of 18.64, a P/E/G ratio of 3.24 and a beta of 0.86. The firm has a 50-day simple moving average of $52.75 and a 200 day simple moving average of $51.15.
Nextera Energy Partners (NYSE:NEP) last released its quarterly earnings results on Tuesday, October 22nd. The solar energy provider reported ($1.21) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.40 by ($1.61). Nextera Energy Partners had a negative return on equity of 2.49% and a negative net margin of 16.67%. The firm had revenue of $253.00 million for the quarter, compared to the consensus estimate of $354.51 million. During the same quarter last year, the firm posted $0.58 earnings per share. Sell-side analysts anticipate that Nextera Energy Partners LP will post -1.48 earnings per share for the current fiscal year.
In other Nextera Energy Partners news, Director Peter H. Kind bought 1,000 shares of the business’s stock in a transaction that occurred on Friday, October 25th. The shares were acquired at an average cost of $51.78 per share, for a total transaction of $51,780.00. Following the transaction, the director now directly owns 19,590 shares in the company, valued at $1,014,370.20. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.61% of the stock is owned by company insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. CWM LLC acquired a new stake in shares of Nextera Energy Partners in the third quarter valued at about $53,000. Cubist Systematic Strategies LLC bought a new stake in Nextera Energy Partners in the second quarter valued at approximately $57,000. Tower Research Capital LLC TRC boosted its holdings in Nextera Energy Partners by 394.4% in the second quarter. Tower Research Capital LLC TRC now owns 1,587 shares of the solar energy provider’s stock valued at $77,000 after acquiring an additional 1,266 shares during the last quarter. Kings Point Capital Management acquired a new stake in Nextera Energy Partners during the 2nd quarter valued at approximately $106,000. Finally, Quest Capital Management Inc. ADV acquired a new stake in Nextera Energy Partners during the 3rd quarter valued at approximately $114,000. 76.95% of the stock is currently owned by hedge funds and other institutional investors.
Nextera Energy Partners Company Profile (NYSE:NEP)
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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