Barclays analyst Moses Sutton maintained a Buy rating on Nextera Energy Partners (NEP) yesterday and set a price target of $64.00. The company’s shares closed last Monday at $55.23, close to its 52-week high of $56.92.
According to TipRanks.com, Sutton is a 3-star analyst with an average return of 5.4% and a 68.2% success rate. Sutton covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Azure Power Global, and TerraForm Power.
Nextera Energy Partners has an analyst consensus of Moderate Buy, with a price target consensus of $57.70, which is a 3.3% upside from current levels. In a report issued on January 24, Oppenheimer also reiterated a Buy rating on the stock with a $63.00 price target.
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Based on Nextera Energy Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $206 million and net profit of $36 million. In comparison, last year the company earned revenue of $155 million and had a GAAP net loss of $16 million.
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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, as well as natural gas infrastructure assets in Texas. The company was founded on March 6, 2014 and is headquartered in Juno Beach, FL.
