NextEra Energy Partners LP (NYSE:NEP) currently has a daily average trading volume of 661.75K but it saw 1087344 shares traded on Thursday. With a market cap of 5.61B USD, stock’s current market price of $62.27 came rising about 0.24 while comparing to the previous closing price of $62.12. In past 52 weeks, the stock remained buoying in the range of price level as high as $86.06 and as low as $60.69. In the recent trading on the day, stock has struck highest price mark of $62.67 while lowest mark touched by it was $61.32.
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Taking a look at 20-day trading activity of NextEra Energy Partners LP (NEP) gives us an average price of $66.11, while its current price level is -27.64% below from 52-week high level whereas it is 2.60% above from lowest level seen by the stock during that period. Simple moving average of 50 days or SMA-50 of the stock’s closing price is $70.45 while that of 200 days or SMA-200 reads an average of $75.23. A closer look into the stock’s movement over the week reveals that its volatility is standing at 3.54% during that period while stretching the period over a month that decreases to 2.53%. It is also necessary to take a look into other indicators of a stock too, to get a better idea about its price movement. And in doing so, we find stock’s 14-day relative strength index (RSI) standing at 31.10 which implies that the stock is in neutral territory.
RBC Capital Mkts upgraded its recommendation for the stock as a “Outperform” from “Sector Perform” on June 17, 2022 while assigning a price target range of $86-$89. CIBC issued its recommendations for the stock as it initiated the price target for the stock is $79.
Over the week, NEP’s stock price is moving -4.10% down while it is -14.28% when we observe its performance for the past one month. Year-to-date it is -11.16% down and over the past year, the stock is showing a downside performance of -22.07%.
The latest quarterly earnings report issued by the company was for quarter ended 12/30/2022, when its quarterly earnings per share (EPS) of $0.4 beaten by the consensus estimate of $0.54 for the same. The company is expected to be releasing its next quarterly report in 04/25/2023, for which analysts forecasted an EPS of $0.55 while estimate for next year EPS is $2.19. For NEP, analysts are forecasting an EPS-growth rate of -61.00% for current year and estimate for EPS growth in next year is 22.80%. In next quarter, company is expected to be making quarterly sales of $415.39 million as analysts are expecting the sales for current fiscal year at $1.57 billion and seeing the company making $1.81 billion in sales next year. Moreover, analysts are in estimates of $344.42 million for current-quarter revenue.
Currently, NextEra Energy Partners LP’s total number of outstanding shares is 86.70M with 1.06% of that held by the insiders while 88.93% of its common stock has been owned by the institutions. Company’s return on investment (ROI) stands at 0.30% and return on equity (ROE) at 14.60%. It has a price to earnings ratio (P/E ratio) of 11.04 while having a 23.11 of forward P/E ratio. Stock’s beta reads 0.91. Stock has a price to book (P/B) ratio of 1.62 while price to sale or P/S ratio amounts to 4.63. Its return on asset (ROA) is 2.40% on average.
As per SEC documents, PGIM Jennison Utility Fund shunned 1,714,410 of company’s common stock of worth $113.6 million as per recent closing price of the stock. PGIM Jennison Utility Fund is not the only institutional holder which restructured its stake in NextEra Energy Partners LP, as Fidelity Advisor Series I -Growth dumped 1,490,000 shares of worth $98.73 million to bring its holdings to a total of 58972.0 shares.
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