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NextEra Energy Partners (NEP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
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The latest trading session saw NextEra Energy Partners (NEP - Free Report) ending at $27.64, denoting a -1.43% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 1.39% for the day. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
The limited partnership for clean-energy projects's stock has dropped by 0.07% in the past month, exceeding the Oils-Energy sector's loss of 7.9% and lagging the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of NextEra Energy Partners in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 24, 2024. The company is forecasted to report an EPS of $0.59, showcasing a 11.32% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $366.94 million, indicating a 4.84% increase compared to the same quarter of the previous year.
NEP's full-year Zacks Consensus Estimates are calling for earnings of $1.89 per share and revenue of $1.26 billion. These results would represent year-over-year changes of +455.88% and +0.53%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for NextEra Energy Partners. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. NextEra Energy Partners is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note NextEra Energy Partners's current valuation metrics, including its Forward P/E ratio of 14.85. This denotes a discount relative to the industry's average Forward P/E of 24.31.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NextEra Energy Partners (NEP) Sees a More Significant Dip Than Broader Market: Some Facts to Know
The latest trading session saw NextEra Energy Partners (NEP - Free Report) ending at $27.64, denoting a -1.43% adjustment from its last day's close. The stock fell short of the S&P 500, which registered a loss of 1.39% for the day. At the same time, the Dow added 0.6%, and the tech-heavy Nasdaq lost 2.77%.
The limited partnership for clean-energy projects's stock has dropped by 0.07% in the past month, exceeding the Oils-Energy sector's loss of 7.9% and lagging the S&P 500's gain of 4.43%.
Investors will be eagerly watching for the performance of NextEra Energy Partners in its upcoming earnings disclosure. The company's earnings report is set to be unveiled on July 24, 2024. The company is forecasted to report an EPS of $0.59, showcasing a 11.32% upward movement from the corresponding quarter of the prior year. Meanwhile, the latest consensus estimate predicts the revenue to be $366.94 million, indicating a 4.84% increase compared to the same quarter of the previous year.
NEP's full-year Zacks Consensus Estimates are calling for earnings of $1.89 per share and revenue of $1.26 billion. These results would represent year-over-year changes of +455.88% and +0.53%, respectively.
Furthermore, it would be beneficial for investors to monitor any recent shifts in analyst projections for NextEra Energy Partners. These revisions help to show the ever-changing nature of near-term business trends. With this in mind, we can consider positive estimate revisions a sign of optimism about the company's business outlook.
Based on our research, we believe these estimate revisions are directly related to near-team stock moves. We developed the Zacks Rank to capitalize on this phenomenon. Our system takes these estimate changes into account and delivers a clear, actionable rating model.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has remained steady. NextEra Energy Partners is holding a Zacks Rank of #2 (Buy) right now.
Investors should also note NextEra Energy Partners's current valuation metrics, including its Forward P/E ratio of 14.85. This denotes a discount relative to the industry's average Forward P/E of 24.31.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry, currently bearing a Zacks Industry Rank of 150, finds itself in the bottom 41% echelons of all 250+ industries.
The strength of our individual industry groups is measured by the Zacks Industry Rank, which is calculated based on the average Zacks Rank of the individual stocks within these groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.