NextEra Energy Partners LP [NYSE: NEP] gained 8.87% or 2.38 points to close at $29.20 with a heavy trading volume of 3874066 shares. The company report on January 25, 2024 at 7:30 AM that NextEra Energy fourth-quarter and full-year 2023 financial results available on company’s website.
NextEra Energy, Inc. (NYSE: NEE) has posted its fourth-quarter and full-year 2023 financial results in a news release available on the company’s website by accessing the following link: www.NextEraEnergy.com/FinancialResults.
John Ketchum, chairman, president and chief executive officer of NextEra Energy, Kirk Crews, executive vice president, finance and chief financial officer of NextEra Energy, and other members of the company’s senior management team will discuss the company’s fourth-quarter and full-year 2023 financial results during an investor presentation to be webcast live, beginning at 9 a.m. ET today. The listen-only webcast will be available on NextEra Energy’s website by accessing the following link: www.NextEraEnergy.com/FinancialResults. Also discussed during the investor presentation will be financial results for NextEra Energy Partners, LP (NYSE: NEP). A replay will be available for 90 days by accessing the same link as listed above.
The daily chart for NEP points out that the company has recorded -48.49% loss over the past six months.
If we look at the average trading volume of 1.83M shares, NEP reached to a volume of 3874066 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about NextEra Energy Partners LP [NEP]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NEP shares is $32.88 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NEP stock is a recommendation set at 2.40. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
CIBC have made an estimate for NextEra Energy Partners LP shares, keeping their opinion on the stock as Neutral, with their previous recommendation back on January 09, 2024.
The Average True Range (ATR) for NextEra Energy Partners LP is set at 1.37, with the Price to Sales ratio for NEP stock in the period of the last 12 months amounting to 2.12. The Price to Book ratio for the last quarter was 0.76, with the Price to Cash per share for the same quarter was set at 2.93.
Trading performance analysis for NEP stock
NextEra Energy Partners LP [NEP] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 9.69. With this latest performance, NEP shares dropped by -3.79% in over the last four-week period, additionally sinking by -48.49% over the last 6 months – not to mention a drop of -61.20% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NEP stock in for the last two-week period is set at 54.64, with the RSI for the last a single of trading hit 57.24, and the three-weeks RSI is set at 53.11 for NextEra Energy Partners LP [NEP]. The present Moving Average for the last 50 days of trading for this stock 27.20, while it was recorded at 27.39 for the last single week of trading, and 43.53 for the last 200 days.
NextEra Energy Partners LP [NEP]: A deeper dive into fundamental analysis
NextEra Energy Partners LP’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.28 and a Current Ratio set at 1.33.
NextEra Energy Partners LP [NEP]: An earnings per share (EPS) analysis
With the latest financial reports released by the company, NextEra Energy Partners LP posted 0.4/share EPS, while the average EPS was predicted by analysts to be reported at 0.54/share. When compared, the two values demonstrate that the company fail the estimates by a Surprise Factor of -25.90%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NEP. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for NextEra Energy Partners LP go to -5.90%.
An analysis of Institutional ownership at NextEra Energy Partners LP [NEP]
The top three institutional holders of NEP stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NEP stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NEP stock with ownership which is approximately 5.8325%.
