Nextera Energy Stock Sinks 13% After Growth Estimate Cuts and Parent's Decision to Halt Planned Asset Transfer

Nextera Energy Partners (NYSENEP) stock has continued its string of losses, sinking over 13% on Monday.
The declines come after cuts to growth estimates and its parent company deciding against a planned asset dropdown.
Wells Fargo downgraded Nextera from Buy to Hold and slashed its price target from $80 to $33.
The downgrade cites Nextera's inability to raise equity and debt capital in current market conditions.
Despite losses, Nextera still has a Moderate Buy analyst consensus rating and 88% upside potential.

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Posted 10/2/2023, 5:48:45 PM

Nextera Energy Stock Sinks 13% After Growth Estimate Cuts and Parent's Decision to Halt Planned Asset Transfer

Nextera Energy Partners (NYSENEP) stock has continued its string of losses, sinking over 13% on Monday.
The declines come after cuts to growth estimates and its parent company deciding against a planned asset dropdown.
Wells Fargo downgraded Nextera from Buy to Hold and slashed its price target from $80 to $33.
The downgrade cites Nextera's inability to raise equity and debt capital in current market conditions.
Despite losses, Nextera still has a Moderate Buy analyst consensus rating and 88% upside potential.

tipranks.com

Relevant topic timeline:

8/29/2023

NextEra Energy Inc. stock falls Tuesday, underperforms market

9/27/2023

NextEra Energy Partners Lowers Growth Outlook Due to Higher Interest Rates

NextEra Energy Partners' stock tumbles after lowering expectations for limited partner distribution growth due to higher interest rates and tighter monetary policy.

9/27/2023

NextEra Energy Slashes Distribution Growth Outlook in Half, Blames Tighter Fed Policy

9/28/2023

Analysts Downgrade NextEra Energy, Raytheon Technologies; Cut Targets for Terex, South State

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Shares of NextEra Energy (NEE) have been downgraded by TheStreet's Quant Ratings service, with charts suggesting further decline and a potential price target in the $45 area.

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NextEra Energy Stock Rises Despite Recent Underperformance; Earnings and Revenue Growth Expected