Yahoo Finance NextEra Energy Partners (NEP) Stock Dips While Market Gains: Key Facts
The most recent trading session ended with NextEra Energy Partners (NEP) standing at $28.16, reflecting a -0.88% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.16% for the day. At the same time, the Dow added 0.04%, and the tech-heavy Nasdaq gained 0.49%.
The limited partnership for clean-energy projects's shares have seen a decrease of 16.61% over the last month, not keeping up with the Oils-Energy sector's loss of 0.71% and the S&P 500's gain of 3.22%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy Partners in its upcoming earnings disclosure. In that report, analysts expect NextEra Energy Partners to post earnings of $0.58 per share. This would mark year-over-year growth of 9.43%. Simultaneously, our latest consensus estimate expects the revenue to be $389.24 million, showing a 11.21% escalation compared to the year-ago quarter.
For the full year, the Zacks Consensus Estimates project earnings of $1.89 per share and a revenue of $1.34 billion, demonstrating changes of +455.88% and +7.26%, respectively, from the preceding year.
Investors should also pay attention to any latest changes in analyst estimates for NextEra Energy Partners. These recent revisions tend to reflect the evolving nature of short-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Empirical research indicates that these revisions in estimates have a direct correlation with impending stock price performance. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, spanning from #1 (Strong Buy) to #5 (Strong Sell), boasts an impressive track record of outperformance, audited externally, with #1 ranked stocks yielding an average annual return of +25% since 1988. Within the past 30 days, our consensus EPS projection remained stagnant. NextEra Energy Partners is currently sporting a Zacks Rank of #1 (Strong Buy).
Investors should also note NextEra Energy Partners's current valuation metrics, including its Forward P/E ratio of 15.04. This indicates a discount in contrast to its industry's Forward P/E of 25.44.
The Alternative Energy - Other industry is part of the Oils-Energy sector. At present, this industry carries a Zacks Industry Rank of 70, placing it within the top 28% of over 250 industries.
The Zacks Industry Rank gauges the strength of our individual industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report
