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

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

NEP has been the subject of a number of other reports. Barclays reduced 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 note on Monday, February 3rd. Morgan Stanley restated 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 Stock Performance

Nextera Energy Partners has a 52-week low of $9.98 and a 52-week high of $35.15. The stock 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.

Institutional Investors Weigh In On Nextera Energy Partners

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

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.