NextEra Energy Partners LP (NEP) Sees Strong Trading Volume
NextEra Energy Partners LP (NYSE:NEP) shares saw an uptick in trading volume on Wednesday . 290,572 shares were traded during trading, an increase of 22% from the previous session’s volume of 238,976 shares.The stock last traded at $30.65 and had previously closed at $30.90.
Several research firms recently commented on NEP. Zacks Investment Research cut NextEra Energy Partners from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, April 20th. Royal Bank Of Canada began coverage on NextEra Energy Partners in a research note on Tuesday, April 5th. They set a “sector perform” rating and a $29.00 target price for the company. Finally, Deutsche Bank AG reaffirmed a “hold” rating and set a $28.00 target price on shares of NextEra Energy Partners in a research note on Tuesday, April 19th. Six investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $33.92.
The company has a market cap of $1.31 billion and a P/E ratio of 64.28. The firm’s 50-day moving average price is $28.86 and its 200-day moving average price is $27.69.
NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings results on Thursday, April 28th. The company reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.35 by $0.21. Equities research analysts forecast that NextEra Energy Partners LP will post $1.31 EPS for the current fiscal year.
A number of institutional investors have added to or reduced their stakes in the stock. Artemis Investment Management LLP boosted its position in NextEra Energy Partners by 23.1% in the fourth quarter. Artemis Investment Management LLP now owns 44,593 shares of the company’s stock valued at $1,331,000 after buying an additional 8,375 shares during the period. Miller Howard Investments Inc. NY acquired a new position in NextEra Energy Partners during the fourth quarter valued at about $1,687,000. PNC Financial Services Group Inc. boosted its position in NextEra Energy Partners by 7,147.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 81,175 shares of the company’s stock valued at $2,423,000 after buying an additional 80,055 shares during the period. BBT Capital Management LLC acquired a new position in NextEra Energy Partners during the fourth quarter valued at about $4,014,000. Finally, Neuberger Berman Group LLC boosted its position in NextEra Energy Partners by 128.6% in the fourth quarter. Neuberger Berman Group LLC now owns 210,782 shares of the company’s stock valued at $6,292,000 after buying an additional 118,579 shares during the period.
Nextera Energy Partners, LP is a limited partnership formed to acquire, manage and own contracted clean energy projects. The Company, through its limited partnership interest in NextEra Energy Operating Partners, LP, owns a portfolio of contracted renewable generation assets consisting of wind and solar projects.