At the last check on Friday, NextEra Energy Partners LP’s (NYSE:NEP) stock was up $1.24, moving up 2.76 percent to $46.19. The average number of shares traded per day over the past five days has been 1,109,570 shares. 1 time new highs have been achieved over the past 5 days, with a -$1.47 fall in that time frame. In the last twenty days, the average volume was 1,159,257, while in the previous 50 days, it was 880,095.
Since last month, NEP stock retreated -21.41%. Shares of the company fell to $44.70 on 08/18/23, the lowest level in the past month. A 52-week high of $86.06 was reached on 01/17/23 after having rallying from a 52-week low of $44.79. Since the beginning of this year, NEP’s stock price has dropped by -34.10% or -$23.70, and marked a new high 8 times. However, the stock has declined by -46.33% since its 52-week high.
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Sponsored
NEP stock investors should be aware that NextEra Energy Partners LP (NEP) stock had its last reported insider trading activity 113 days ago on Apr 27. Kind Peter H, the Director of the company, purchased of 1,750 shares for $56.89 on Apr 27. It resulted in a $99,558 investment by the insider.
Valuation Metrics
Right now, NextEra Energy Partners LP (NEP) has a P/E ratio of about 27.40. The stock’s beta is 0.90. Besides these, the trailing price-to-sales (P/S) ratio of 3.54, the price-to-book (PB) ratio of 1.20.
The latest dividend of $0.8540 per share was paid out, which is 1.36% more than last year’s $0.8425. On Monday July 24 2023, a $0.0115 dividend increase was announced.
Financial Health
In the three months ended June 29, NextEra Energy Partners LP’s quick ratio stood at 1.20, while its current ratio was 1.20, showing that the company is able to pay off its debt. According to company report, the long-term debt-to-equity ratio for the quarter ending June 29 was 1.66, and the total debt-to-equity ratio was 1.82. In the year ended June 29, EBITDA margin amounted to 60.61%, whereas operating margins totaled 8.00%. Based on annual data, NEP earned $197.0 million in gross profit and brought in $1.21 billion in revenue.
A company’s management is another factor that investors consider when determining the profitability of an investment. In the past year, return on investment (ROI) was 0.30%. Return on equity (ROE) for the past 12 months was 4.30%.
In NextEra Energy Partners LP’s quarter-end financial report for June 29, it reported total debt of $5.92 billion. According to the earnings report, the company had a higher net income in the recent quarter than it did in the previous quarter. NEP’s revenue fell -3.43% to $301.0 million during the quarter, while net income inched up to $350.0 million. While analysts expected NextEra Energy Partners LP to report $0.76 quarterly earnings, the actual figure was $0.53 per share, beating the consensus estimate by -30.30%. During the quarter, the company generated $219.0 million in EBITDA. The liabilities of NextEra Energy Partners LP were 9.04 billion at the end of its most recent quarter ended June 29, and its total debt was $6.49 billion. The value of shareholders’ equity is $93.43 million.
Technical Picture
This quick technical analysis looks at NextEra Energy Partners LP’s (NEP) price momentum. With a historical volatility rate of 34.93%, the RSI 9-day stood at 29.12% on 17 August.
With respect to its five-day moving average, the current NextEra Energy Partners LP price is down by -3.06% percent or -$1.47. At present, NEP shares trade -20.95% below its 20-day simple moving average and -24.15% percent below its 100-day simple moving average. However, the stock is currently trading approximately -25.84% below its SMA50 and -37.38% below its SMA200.
Stochastic coefficient K was 8.49% and Stochastic coefficient D was 5.63%, while ATR was 1.65. Given the Stochastic reading of 16.31% for the 14-day period, the RSI (14) reading has been calculated as 28.02%. As of today, the MACD Oscillator reading stands at -1.13, while the 14-day reading stands at -2.67.
Analyst Ratings
BofA Securities upgraded its rating on NextEra Energy Partners LP (NYSE: NEP) to a Neutral in a note to investors on June 01, 2023. The analysts firm previously had an Underperform rating on the stock.NextEra Energy Partners LP (NEP) has been rated Overweight by analysts. According to 0 brokerage firms, NEP is a sell, and 6 firms recommend it is a Hold. There are 0 analysts who say the stock is underweight. A total of 0 analysts rate NextEra Energy Partners LP stock as buy, with 10 recommending it as overweight.
With a median target price of $78.00, the current consensus forecast for the stock is $60.00 – $86.00. Based on these forecasts, analysts predict NextEra Energy Partners LP (NEP) will achieve an average price target of $76.64.
