The stock of NextEra Energy Partners LP (NYSE:NEP) increased by $1.35 on Tuesday to at $49.97, up 2.77 percent. The last five days have seen an average of 924,288 shares of common stock traded. 8 times new highs were reached in the current year, with a fall of -$19.92. The average number of shares traded over the last 20 days was 1,087,312, while the average volume over the last 50 days totaled 921,127.
NEP stock dropped -8.24% since last month. On 08/22/23, the company’s shares reached a one-month low of $44.24. The stock touched a high of $86.06 on 01/17/23, after rallying from a low of $44.24 in 52 weeks. The price of NEP stock has declined by -28.71% or -$19.92 this year, reaching a new high 8 times. Still, the stock price is down -41.94% from the 52-week high.
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Insider Transactions
NEP stock investors should be aware that NextEra Energy Partners LP (NEP) stock had its last reported insider trading activity 124 days ago on Apr 27. On Apr 27, Director Kind Peter H acquired 1,750 shares at $56.89 each. This transaction resulted in the insider spending $99,558.
Valuation Metrics
NextEra Energy Partners LP (NEP) has a trailing price-to-earnings (P/E) ratio of 29.64. Beta for the stock is 0.87. There are also a few other valuation ratios worth considering, including the trailing price-to-sales (P/S) ratio of 3.75, the price-to-book (PB) ratio of 1.30.
Company paid $0.8540 per share in dividends, an increase of 1.36% from $0.8425 last year. A $0.0115 dividend increase was reported on Monday July 24 2023.
Financial Health
For the three months ended June 29, NextEra Energy Partners LP’s quick ratio was 1.20, while its current ratio was 1.20, indicating its ability to pay off its debt. The company’s long-term debt to equity ratio for the quarter ending June 29 is 1.66, and the total debt to equity ratio is 1.82. NextEra Energy Partners LP’s EBITDA margin for the year ended June 29 was 60.61%, whereas its operating margin stood at 8.00% for the same period. Based on annual data, it had gross profit of $197.0 million and revenue of $1.21 billion.
Investors will also look at the performance of the company’s management in order to determine the potential profitability of their investment. NEP’s return on assets (ROA) during the last 12 months has been 0.70%. There was a 0.30% return on investment (ROI) in the past year. In the meantime, the return on equity (ROE) for the last 12 months was 4.30%.
Earnings Surprise
According to NextEra Energy Partners LP’s quarterly financial report for the quarter that ended June 29. A higher net income was reported in the quarter under review than the previous quarter. Net income for the quarter came in at $350.0 million, while revenues fell by -3.43% to $301.0 million. It was predicted that NextEra Energy Partners LP’s quarterly earnings would be $0.53, but it ended up being $0.76, beating the consensus by -30.30%. EBITDA was $219.0 million for the quarter. At the end of NextEra Energy Partners LP’s most recent quarter ended June 29, its liabilities totaled 9.04 billion, while its total debt was $6.55 billion. Equity owned by shareholders amounts to $93.43 million.
Technical Picture
Here’s a quick look at NextEra Energy Partners LP’s (NEP) price momentum from a technical perspective. As of 28 August, the RSI 9-day stood at 61.00%, suggesting the stock is Neutral, with a 40.61% historical volatility rate.
The stochastic %K and %D were 82.52% and 67.18% respectively, while the average true range (ATR) was 1.64. Based on the 14-day stochastic reading of 92.09%, the RSI (14) reading is 51.15%. On the 9-day MACD Oscillator, the stock is at 2.13, and the 14-day reading is at 2.02.
Analyst Ratings
In its most recent analyst report, Raymond James raised its rating on NextEra Energy Partners LP (NYSE: NEP) to an Outperform. Prior to this, analysts firm rated the stock as a Mkt perform. Analysts have assigned NextEra Energy Partners LP (NEP) an Overweight rating. NEP is a stock that is recommended for selling by 0 brokerage firms, while 5 companies recommend holding. The stock is underweighted by 0 analysts. Among the analysts who rate the stock, 1 rate it overweight and 10 others recommend it as a buy.
What is NEP’s price target for the next 12 months?
The current consensus forecast for the stock is between $60.00 and $86.00, with a median target price of $76.00. In analyzing these forecasts, the average price target given by analysts for NextEra Energy Partners LP (NEP) is $75.13.
