StockNews.com Begins Coverage on Nextera Energy Partners (NYSE:NEP)

Equities research analysts at StockNews.com assumed coverage on shares of Nextera Energy Partners (NYSE:NEP) in a research note issued on Monday. The brokerage set a “sell” rating on the stock.

Other equities research analysts have also recently issued research reports about the stock. Barclays cut their price objective on shares of Nextera Energy Partners from $17.00 to $7.00 and set an “underweight” rating for the company in a research report on Monday, February 3rd. Morgan Stanley reaffirmed an “underweight” rating and set a $13.00 price target (down previously from $22.00) on shares of Nextera Energy Partners in a report on Monday, February 3rd.

Nextera Energy Partners Price Performance

The firm has a market capitalization of $983.47 million, a price-to-earnings ratio of -105.15 and a beta of 1.03. 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 has a 1 year low of $9.98 and a 1 year high of $35.15.

Hedge Funds Weigh In On Nextera Energy Partners

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Natural Investments LLC acquired a new position in shares of Nextera Energy Partners during the fourth quarter worth $504,000. Prescott Group Capital Management L.L.C. acquired a new stake in shares of Nextera Energy Partners during the 4th quarter valued at $3,916,000. Amundi increased its holdings in Nextera Energy Partners by 90.9% in the 4th quarter. Amundi now owns 414,240 shares of the company’s stock worth $7,564,000 after purchasing an additional 197,286 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new position in Nextera Energy Partners in the fourth quarter valued at about $9,163,000. Institutional investors own 66.01% of the company’s stock.

Nextera Energy Partners Company Profile

NextEra Energy Partners LP engages in the acquisition, management, and ownership of contracted clean energy projects with long-term cash flows. It owns interests in wind and solar projects in North America and natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.