Yahoo Finance NextEra Energy Partners (NEP) Gains As Market Dips: What You Should Know
NextEra Energy Partners (NEP) closed the most recent trading day at $28.13, moving +0.25% from the previous trading session. This move outpaced the S&P 500's daily loss of 0.25%. Meanwhile, the Dow gained 0.77%, and the Nasdaq, a tech-heavy index, lost 0.79%.
The limited partnership for clean-energy projects's stock has dropped by 18.78% in the past month, falling short of the Oils-Energy sector's loss of 5.24% and the S&P 500's gain of 3.59%.
The upcoming earnings release of NextEra Energy Partners will be of great interest to investors. The company is predicted to post an EPS of $0.58, indicating a 9.43% growth compared to the equivalent quarter last year. Our most recent consensus estimate is calling for quarterly revenue of $389.24 million, up 11.21% from the year-ago period.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.89 per share and a revenue of $1.34 billion, signifying shifts of +455.88% and +7.26%, respectively, from the last year.
It's also important for investors to be aware of any recent modifications to analyst estimates for NextEra Energy Partners. Such recent modifications usually signify the changing landscape of near-term business trends. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, which varies between #1 (Strong Buy) and #5 (Strong Sell), carries an impressive track record of exceeding expectations, confirmed by external audits, with stocks at #1 delivering an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has moved 5.42% higher. NextEra Energy Partners is currently a Zacks Rank #3 (Hold).
In terms of valuation, NextEra Energy Partners is currently trading at a Forward P/E ratio of 14.86. This indicates a discount in contrast to its industry's Forward P/E of 24.89.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 91, finds itself in the top 37% echelons of all 250+ industries.
The Zacks Industry Rank evaluates the power of our distinct industry groups by determining the average Zacks Rank of the individual stocks forming the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
To follow NEP in the coming trading sessions, be sure to utilize Zacks.com.
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NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report
