NextEra Energy Partners (NYSE:NEP) Price Target Increased to $69.00 by Analysts at Morgan Stanley

NextEra Energy Partners (NYSE:NEP) had its target price upped by analysts at Morgan Stanley from $63.00 to $69.00 in a note issued to investors on Tuesday, Price Targets.com reports. The brokerage presently has an “equal weight” rating on the solar energy provider’s stock. Morgan Stanley’s target price would indicate a potential downside of 8.62% from the company’s previous close.

Other research analysts also recently issued research reports about the company. TheStreet upgraded NextEra Energy Partners from a “c+” rating to a “b” rating in a report on Monday, May 17th. Seaport Res Ptn downgraded NextEra Energy Partners from a “buy” rating to a “neutral” rating in a research note on Monday, May 17th. Zacks Investment Research upgraded NextEra Energy Partners from a “hold” rating to a “buy” rating and set a $80.00 price target on the stock in a research note on Thursday, July 1st. Finally, Seaport Global Securities restated a “neutral” rating on shares of NextEra Energy Partners in a research note on Monday, May 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eight have issued a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $78.60.

NEP stock opened at $75.51 on Tuesday. NextEra Energy Partners has a fifty-two week low of $54.33 and a fifty-two week high of $88.29. The stock’s 50 day moving average price is $72.20. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.67 and a quick ratio of 1.60. The stock has a market cap of $5.73 billion, a P/E ratio of 15.22, a price-to-earnings-growth ratio of 0.91 and a beta of 0.74.

NextEra Energy Partners (NYSE:NEP) last posted its earnings results on Tuesday, April 20th. The solar energy provider reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $2.27. NextEra Energy Partners had a return on equity of 6.31% and a net margin of 47.32%. The firm had revenue of $246.00 million for the quarter, compared to the consensus estimate of $298.74 million. During the same quarter in the prior year, the business earned ($3.39) EPS. The business’s revenue for the quarter was up 16.0% on a year-over-year basis. Research analysts forecast that NextEra Energy Partners will post 4.33 earnings per share for the current year.

Hedge funds have recently added to or reduced their stakes in the stock. Vigilant Capital Management LLC bought a new position in NextEra Energy Partners in the 1st quarter valued at approximately $27,000. Atticus Wealth Management LLC bought a new position in NextEra Energy Partners in the 1st quarter valued at approximately $29,000. Certified Advisory Corp bought a new position in NextEra Energy Partners in the 1st quarter valued at approximately $29,000. ADE LLC bought a new position in NextEra Energy Partners in the 4th quarter valued at approximately $31,000. Finally, Perkins Coie Trust Co bought a new position in NextEra Energy Partners in the 2nd quarter valued at approximately $31,000. 80.46% 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. The company owns a portfolio of contracted renewable generation assets consisting of wind and solar projects, as well as contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is headquartered in Juno Beach, Florida.

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Analyst Recommendations for NextEra Energy Partners (NYSE:NEP)

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