Nextera Energy Partners falls, Raymond James downgrades to 'strong buy'

XPLR Infrastructure LP

09/07/2024 14:56

** Shares of Nextera Energy Partners  NEP.N , a limited
partnership formed by NextEra Energy  NEE.N  to oversee
renewable projects, down 1.8% at $26.27
    ** Raymond James downgrades stock to "strong buy" from
"outperform", citing "lack of clarity from the management of the
parent company — NextEra Energy  NEE.N  — about the proverbial
game plan for NEP"
    ** "The fact that NEP is trading at a 13% yield means, by
definition, that its cost of capital is unsustainably high"
    ** Out of the 16 brokerages that rate the stock, 4 rate it
"buy" or higher, 9 "hold" and 3 "sell"; their median PT is $32 -
LSEG
    ** Including session's movement, stock down ~13.6% YTD

 (Reporting by Seher Dareen in Bengaluru)
 ((Seher.Dareen@thomsonreuters.com))