NextEra Energy Partners downgraded to Neutral from Buy at UBS

UBS analyst William Grippin downgraded NextEra Energy Partners to Neutral from Buy with a price target of $20, down from $74. Following the announcement reducing distribution growth expectations from 12% to 6% year-over-year, the analyst sees limited near-term positive catalysts to drive a re-rating of the shares. NextEra Energy Partners is also facing considerable near-term low-cost debt maturities which could further limit its ability to fund new growth via asset acquisitions, the analyst tells investors in a research note.