In the latest trading session, 3.02 million NextEra Energy Partners LP (NYSE:NEP) shares changed hands as the company’s beta touched 1.03. With the company’s most recent per share price at $22.11 changed hands at -$2.98 or -11.88% at last look, the market valuation stands at $2.07B. NEP’s current price is a discount, trading about -58.98% off its 52-week high of $35.15. The share price had its 52-week low at $21.83, which suggests the last value was 1.27% up since then. When we look at NextEra Energy Partners LP’s average trading volume, we note the 10-day average is 1.11 million shares, with the 3-month average coming to 1.28 million.
Analysts gave the NextEra Energy Partners LP (NEP) stock a consensus recommendation rating of Buy, calculated at a mean rating of 3.21. If we narrow down to specifics, the data shows that 1 out of 9 analysts rate the stock as a Sell, with a further 0 assigning it an Overweight rating. Of the remaining, 4 recommended NEP as a Hold, 4 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 0.61.
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NextEra Energy Partners LP (NYSE:NEP) trade information
Instantly NEP was in red as seen in intraday trades today. With action -16.35%, the performance over the past five days has been red. The company’s shares are showing year-to-date downside of -27.29%, with the 5-day performance at -16.35% in the red. However, in the 30-day time frame, NextEra Energy Partners LP (NYSE:NEP) is -17.56% down. Looking at the short shares, we see there were 3.12 million shares sold at short interest cover period of 2.9 days.
The consensus price target for the stock as assigned by Wall Street analysts is 32, meaning bulls need an upside of 30.91% from its recent market value. According to analyst projections, NEP’s forecast low is 20 with 95 as the target high. To hit the forecast high, the stock’s price needs a -329.67% plunge from its current level, while the stock would need to tank 9.54% 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 better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -25.38% over the past 6 months, a 547.06% in annual growth rate that is considerably higher than the industry average of -3.30%. Year-over-year growth is forecast to reach 19.80% up from the last financial year.
Consensus estimates given by 5 financial analysts project the company’s revenue in the current quarter to hit an average of 348M. 5 analysts are of the opinion that NextEra Energy Partners LP’s revenue for the current quarter will be 290.4M. The company’s revenue for the corresponding quarters a year ago was 425.08M and 232M respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -18.10%. The estimates for the next quarter sales put growth at 25.20%.
The 2024 estimates are for NextEra Energy Partners LP earnings to increase by 20.91%.
NEP Dividends
NextEra Energy Partners LP is expected to release its next quarterly earnings report on 2024-Oct-23. The 16.03% annual yield figure for the share gives it an annual dividend of 3.54. It is important to note, however, that the 16.03% 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. During the past 5 years, the average dividend yield was 5.68 per year.
NextEra Energy Partners LP (NYSE:NEP)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.74% of NextEra Energy Partners LP shares while 62.90% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 64.68%. There are 62.90% institutions holding the NextEra Energy Partners LP stock share, with BLACKROCK INC. the top institutional holder. As of 2024-06-30, the company held 7.6374% of the shares, roughly 7.14 million NEP shares worth $197.38 million.
MORGAN STANLEY holds the second largest percentage of outstanding shares, with 4.3772% or 4.09 million shares worth $113.12 million as of 2024-06-30.
