Is NextEra Energy Partners LP (NYSE: NEP) Stock Poised for More Growth?

In the last trading session, 1.11 million NextEra Energy Partners LP (NYSE:NEP) shares changed hands as the company’s beta touched 0.92. With the company’s per share price at $23.62 changed hands at $0.36 or 1.55% during last session, the market valuation stood at $2.21B. NEP’s last price was a discount, traded about -244.28% off its 52-week high of $81.32. The share price had its 52-week low at $20.17, which suggests the last value was 14.61% up since then. When we look at NextEra Energy Partners LP’s average trading volume, we note the 10-day average is 2.62 million shares, with the 3-month average coming to 2.76 million.

Analysts gave the NextEra Energy Partners LP (NEP) stock a consensus recommendation rating of an Overweight, calculated at a mean rating of 2.31. If we narrow down to specifics, the data shows that 1 out of 16 analysts rate the stock as a Sell, with a further 1 assigning it an Overweight rating. Of the remaining, 8 recommended NEP as a Hold, 6 felt it is a Buy and 0 rated the stock as Underweight. NextEra Energy Partners LP’s EPS for the current quarter is expected to be $Pepsico, Inc..

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NextEra Energy Partners LP (NYSE:NEP) trade information

Instantly NEP was in green as seen at the end of in last trading. With action 3.92%, the performance over the past five days has been green. The jump to weekly highs of 24.78 on Monday, 11/20/23 added 1.55% to the stock’s daily price. The company’s shares are showing year-to-date downside of -66.30%, with the 5-day performance at 3.92% in the green. However, in the 30-day time frame, NextEra Energy Partners LP (NYSE:NEP) is 5.45% up. Looking at the short shares, we see there were 2.54 million shares sold at short interest cover period of 0.61 days.

The consensus price target for the stock as assigned by Wall Street analysts is $32.68, meaning bulls need an upside of 27.72% from its current market value. According to analyst projections, NEP’s forecast low is $15.50 with $50.00 as the target high. To hit the forecast high, the stock’s price needs a -111.69% plunge from its current level, while the stock would need to tank 34.38% for it to hit the projected low.

NextEra Energy Partners LP (NEP) estimates and forecasts

Data shows that the NextEra Energy Partners LP share is performing relatively much not better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -60.67% over the past 6 months, a -78.47% in annual growth rate that is considerably lower than the industry average of -3.80%.

The 2023 estimates are for NextEra Energy Partners LP earnings to decrease by -69.83%, but the outlook for the next 5-year period is at -5.90% per year.

NEP Dividends

NextEra Energy Partners LP is expected to release its next quarterly earnings report between January 23 and January 29. The 14.48% annual yield figure for the share gives it an annual dividend of 3.42. It is important to note, however, that the 14.48% dividend yield ratio should serve as a guide only, as you should also take into consideration many other aspects of a company’s operations and fundamentals before making any investment decision.

NextEra Energy Partners LP (NYSE:NEP)’s Major holders

If we look at who the major shareholders are, we find that insiders hold 1.13% of NextEra Energy Partners LP shares while 91.99% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 93.04%. There are 91.99% institutions holding the NextEra Energy Partners LP stock share, with Blackrock Inc. the top institutional holder. As of Jun 29, 2023, the company held 7.56% of the shares, roughly 7.07 million NEP shares worth $414.33 million.

Neuberger Berman Group, LLC holds the second largest percentage of outstanding shares, with 4.41% or 4.12 million shares worth $241.51 million as of Jun 29, 2023.

Among Mutual Funds, the top two as of Aug 30, 2023 were PGIM Jennison Utility Fd and First Trust North American Energy Infrastructure Fund. With 1.67 million shares estimated at $83.42 million under it, the former controlled 1.79% of total outstanding shares. On the other hand, First Trust North American Energy Infrastructure Fund held about 1.66% of the shares, roughly 1.55 million shares worth around $46.13 million.

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