NextEra Energy Partners Sees Unusually High Options Volume (NYSE:NEP)

NextEra Energy Partners, LP (NYSE:NEP) was the target of unusually large options trading activity on Wednesday. Stock traders acquired 23,538 put options on the company. This is an increase of 388% compared to the typical daily volume of 4,826 put options.

NextEra Energy Partners Trading Down 11.2 %

NYSE NEP opened at $10.51 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.78 and a current ratio of 2.02. The firm has a market cap of $982.53 million, a PE ratio of 4.82 and a beta of 1.06. NextEra Energy Partners has a one year low of $10.32 and a one year high of $35.15. The firm’s fifty day moving average is $17.31 and its two-hundred day moving average is $21.76.

NextEra Energy Partners (NYSE:NEP) last posted its quarterly earnings data on Tuesday, January 28th. The solar energy provider reported $0.99 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.20. NextEra Energy Partners had a net margin of 17.47% and a negative return on equity of 1.07%. Analysts expect that NextEra Energy Partners will post 2.06 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on NEP shares. Morgan Stanley raised shares of NextEra Energy Partners from an “equal weight” rating to an “overweight” rating and set a $22.00 target price on the stock in a research note on Monday, December 2nd. Wells Fargo & Company cut their price target on shares of NextEra Energy Partners from $33.00 to $13.00 and set an “equal weight” rating for the company in a report on Wednesday. Guggenheim dropped their target price on shares of NextEra Energy Partners from $17.00 to $12.00 and set a “neutral” rating for the company in a report on Wednesday. Evercore ISI dropped their target price on shares of NextEra Energy Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a report on Thursday, October 24th. Finally, BMO Capital Markets restated a “market perform” rating and issued a $18.00 price target (down previously from $26.00) on shares of NextEra Energy Partners in a research note on Monday, January 13th. Three analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat, NextEra Energy Partners currently has an average rating of “Hold” and a consensus price target of $22.07.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. M&G PLC increased its stake in shares of NextEra Energy Partners by 19.3% during the third quarter. M&G PLC now owns 3,062,083 shares of the solar energy provider’s stock worth $85,738,000 after acquiring an additional 496,383 shares during the period. CUSHING ASSET MANAGEMENT LP dba NXG INVESTMENT MANAGEMENT acquired a new position in NextEra Energy Partners during the fourth quarter worth about $21,449,000. Redwood Grove Capital LLC grew its position in NextEra Energy Partners by 19.7% during the third quarter. Redwood Grove Capital LLC now owns 982,235 shares of the solar energy provider’s stock worth $27,129,000 after buying an additional 161,436 shares during the period. abrdn plc grew its position in NextEra Energy Partners by 15.3% during the fourth quarter. abrdn plc now owns 980,200 shares of the solar energy provider’s stock worth $17,242,000 after buying an additional 130,000 shares during the period. Finally, Rockefeller Capital Management L.P. grew its position in NextEra Energy Partners by 8.0% during the third quarter. Rockefeller Capital Management L.P. now owns 630,588 shares of the solar energy provider’s stock worth $17,417,000 after buying an additional 46,728 shares during the period. 66.01% of the stock is currently owned by institutional investors and hedge funds.

About NextEra Energy Partners

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, solar, and battery storage projects. The company owns contracted natural gas pipeline assets. NextEra Energy Partners, LP was incorporated in 2014 and is based in Juno Beach, Florida.