NextEra Energy Partners upgraded to Neutral from Underweight at JPMorgan

JPMorgan analyst Mark Strouse upgraded NextEra Energy Partners (NEP) to Neutral from Underweight with a price target of $22, down from $25. The company reported Q3 results below expectations primarily owing to lower wind resource, the analyst tells investors in a research note. More importantly, the firm says the company announced that it intends to provide an update to investors by no later than the Q4 earnings call regarding the strategic review of its long-term convertible equity portfolio financing obligations and cost of capital. JPMorgan believes a dropdown announcement, in conjunction with a distribution reset, could be a catalyst for the stock and provide increased growth visibility into fiscal 2026 and beyond.