Credit Suisse Group Boosts Nextera Energy Partners (NYSE:NEP) Price Target to $53.00

Nextera Energy Partners (NYSE:NEP) had its target price raised by Credit Suisse Group from $52.00 to $53.00 in a research report sent to investors on Wednesday, BenzingaRatingsTable reports. Credit Suisse Group currently has an outperform rating on the solar energy provider’s stock.

A number of other research analysts have also recently weighed in on NEP. Barclays lifted their price objective on shares of Nextera Energy Partners from $49.00 to $52.00 and gave the company an equal weight rating in a report on Tuesday, July 23rd. Zacks Investment Research raised shares of Nextera Energy Partners from a hold rating to a buy rating and set a $52.00 price objective for the company in a report on Wednesday, June 26th. Wells Fargo & Co lifted their price objective on shares of Nextera Energy Partners from $60.00 to $62.00 and gave the company an outperform rating in a report on Tuesday. Finally, ValuEngine raised shares of Nextera Energy Partners from a buy rating to a strong-buy rating in a report on Friday, September 27th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The stock currently has an average rating of Buy and a consensus target price of $52.50.

Shares of Nextera Energy Partners stock traded down $1.36 during trading on Wednesday, hitting $50.58. 1,416,535 shares of the company’s stock were exchanged, compared to its average volume of 281,089. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.38 and a current ratio of 1.38. The business has a 50-day simple moving average of $51.20 and a 200-day simple moving average of $48.30. Nextera Energy Partners has a 52-week low of $39.35 and a 52-week high of $53.90. The stock has a market capitalization of $2.84 billion, a price-to-earnings ratio of 17.38, a PEG ratio of 15.30 and a beta of 0.91.

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

Institutional investors and hedge funds have recently made changes to their positions in the stock. Manchester Financial Inc. purchased a new stake in Nextera Energy Partners during the 2nd quarter worth approximately $27,000. AGF Investments LLC purchased a new position in shares of Nextera Energy Partners in the 2nd quarter valued at about $49,000. Steward Partners Investment Advisory LLC purchased a new position in shares of Nextera Energy Partners in the 2nd quarter valued at about $57,000. Cubist Systematic Strategies LLC purchased a new position in shares of Nextera Energy Partners in the 2nd quarter valued at about $57,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Nextera Energy Partners by 394.4% in the 2nd quarter. Tower Research Capital LLC TRC now owns 1,587 shares of the solar energy provider’s stock valued at $77,000 after purchasing an additional 1,266 shares in the last quarter. 80.45% of the stock is currently owned by hedge funds and other institutional investors.

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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Analyst Recommendations for Nextera Energy Partners (NYSE:NEP)

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