NextEra Energy Partners LP [NEP] stock prices are up 2.99% to $29.63 at the moment. An important factor to consider is whether the stock is rising or falling in short-term value. The NEP shares have gain 8.22% over the last week, with a monthly amount glided 6.09%, and seem to be holding up well over a long-time horizon.
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From an analyst’s perspective:
NextEra Energy Partners LP [NYSE: NEP] stock has seen the most recent analyst activity on April 10, 2024, when Barclays initiated its Equal Weight rating and assigned the stock a price target of $32. Previously, Evercore ISI started tracking the stock with Outperform rating on February 13, 2024, and set its price target to $43. On January 09, 2024, downgrade downgraded it’s rating to Neutral. Seaport Research Partners downgraded its rating to a Sell but stick to its price target of $15.50 on November 09, 2023. UBS downgraded its rating to a Neutral and reduced its price target to $20 on October 10, 2023. Wells Fargo downgraded its rating to Equal Weight for this stock on October 02, 2023, and downed its price target to $33. In a note dated September 28, 2023, Oppenheimer downgraded an Perform rating on this stock.
The stock price of NextEra Energy Partners LP [NEP] has been fluctuating between $20.17 and $64.43 over the past year. Currently, Wall Street analysts expect the stock to reach $71.5 within the next 12 months. NextEra Energy Partners LP [NYSE: NEP] shares were valued at $29.63 at the most recent close of the market. An investor can expect a potential return of 141.31% based on the average NEP price forecast.
Analyzing the NEP fundamentals
The NextEra Energy Partners LP [NYSE:NEP] reported sales of 1.21B for trailing twelve months, representing a drop of -15.18%. Gross Profit Margin for this corporation currently stands at 0.56% with Operating Profit Margin at 0.15%, Pretax Profit Margin comes in at 0.05%, and Net Profit Margin reading is 0.27%. To continue investigating profitability, this company’s Return on Assets is posted at 0.01, Equity is 0.03 and Total Capital is 0.01. An extended analysis of the company’s primary financial structure reveals a debt-to-equity ratio of0.45.
Before buying any particular stock, readers tend to pay close attention to the indicators that support and create resistance. The company’s stock is currently sitting at 28.90 points at the first support level, and at 28.16 for the second support level. However, for the 1st resistance point, the stock is sitting at 30.00, and for the 2nd resistance point, it is at 30.36.
NextEra Energy Partners LP [NEP] reported earnings per share of $0.75 for its fiscal quarter that ended on 3/31/2024. Based on the Wall Street analysts’ estimates, the company was expected to report earnings of $0.3/share, meaning a difference of $0.45 and a surprise factor of 150.00%. By comparison, the stated earnings for the previous quarter ended on 12/31/2023 were $1.2 per share as compared to estimates of $0.16 per share, a difference of $1.04 representing a surprise of 650.00%.
Ratios To Look Out For
It’s worth pointing out that NextEra Energy Partners LP [NYSE:NEP]’s Current Ratio is 1.36. On the other hand, the Quick Ratio is 1.31, and the Cash Ratio is 0.15. Considering the valuation of this stock, the price to sales ratio is 2.29, the price to book ratio is 0.78 and price to earnings (TTM) ratio is 9.73.
Transactions by insiders
Recent insider trading involved Kind Peter H, Director, that happened on Apr 27 ’23 when 1750.0 shares were purchased.
