Avondale Partners Downgrades Nextera Energy Partners LP to Market Perform

Brokerage firm Avondale Partners Downgrades its rating on Nextera Energy Partners LP(NYSE:NEP). The shares have been rated Market Perform. Previously, the analysts had a Market Outperform rating on the shares. The rating by Avondale Partners was issued on Jul 28, 2016.

Nextera Energy Partners LP (NEP) made into the market gainers list on Thursdays trading session with the shares advancing 0.36% or 0.11 points. Due to strong positive momentum, the stock ended at $30.35, which is also near the day’s high of $30.94. The stock began the session at $29.74 and the volume stood at 1,24,710 shares. The 52-week high of the shares is $34.18 and the 52 week low is $19.34. The company has a current market capitalization of $1,283 M and it has 4,22,74,695 shares in outstanding.

Nextera Energy Partners LP(NEP) last announced its earnings results on Jul 27, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $171.00M. Analysts had an estimated revenue of $195.70M. Earnings per share were $0.19. Analysts had estimated an EPS of $0.34.

Several Insider Transactions has been reported to the SEC. On Sep 14, 2015, Paul I Cutler (Treasurer & Asst. Sec of GP) purchased 12,000 shares at $26.00 per share price.Also, On Aug 31, 2015, Armando Jr Pimentel (President of GP) purchased 5,000 shares at $30.29 per share price.

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. The Company’s projects portfolio consists of clean contracted renewable energy assets that include Northern Colorado is a wind project with a capacity of 174 megawatt; Elk City and Perrin Ranch are wind projects with a capacity of 99 megawatt; Moore and Sombra are solar projects with a capacity of 20 megawatt; Conestogo is a wind project with a capacity of 23 megawatt; Tuscola Bay is a wind project with a capacity of 120 megawatt; Summerhaven is a wind project with a capacity of 124 megawatt; Bluewater is a wind project with a capacity of 60 megawatt and Genesis is a solar project with a capacity of 250 megawatt.

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