Yahoo Finance NextEra Energy Partners (NEP) Stock Drops Despite Market Gains: Important Facts to Note
In the latest trading session, NextEra Energy Partners (NEP) closed at $31.20, marking a -1.39% move from the previous day. This change lagged the S&P 500's daily gain of 0.85%. Meanwhile, the Dow experienced a drop of 0.09%, and the technology-dominated Nasdaq saw an increase of 1.53%.
The limited partnership for clean-energy projects's stock has dropped by 5.3% in the past month, falling short of the Oils-Energy sector's loss of 4.55% and the S&P 500's gain of 3.11%.
The upcoming earnings release of NextEra Energy Partners will be of great interest to investors. The company's upcoming EPS is projected at $0.58, signifying a 9.43% increase compared to the same quarter of the previous year. At the same time, our most recent consensus estimate is projecting a revenue of $389.24 million, reflecting a 11.21% rise from the equivalent quarter last year.
In terms of the entire fiscal year, the Zacks Consensus Estimates predict earnings of $1.89 per share and a revenue of $1.34 billion, indicating changes of +455.88% and +7.26%, respectively, from the former year.
Investors should also take note of any recent adjustments to analyst estimates for NextEra Energy Partners. These revisions typically reflect the latest short-term business trends, which can change frequently. As a result, upbeat changes in estimates indicate analysts' favorable outlook on the company's business health and profitability.
Our research suggests that these changes in estimates have a direct relationship with upcoming 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 ranges from #1 (Strong Buy) to #5 (Strong Sell). It has a remarkable, outside-audited track record of success, with #1 stocks delivering an average annual return of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 22.64% higher. NextEra Energy Partners is currently a Zacks Rank #3 (Hold).
Looking at its valuation, NextEra Energy Partners is holding a Forward P/E ratio of 16.75. Its industry sports an average Forward P/E of 25.09, so one might conclude that NextEra Energy Partners is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 92, positioning it in the top 37% 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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report
