The most recent trading session ended with NextEra Energy Partners (NEP) standing at $18.72, reflecting a +0.11% shift from the previouse trading day's closing. The stock fell short of the S&P 500, which registered a gain of 0.55% for the day. Elsewhere, the Dow lost 0.06%, while the tech-heavy Nasdaq added 1.24%.
Market participants will be closely following the financial results of NextEra Energy Partners in its upcoming release. The company is predicted to post an EPS of $0.51, indicating a 245.71% growth compared to the equivalent quarter last year. Meanwhile, our latest consensus estimate is calling for revenue of $367.82 million, up 58.54% from the prior-year quarter.
Investors should also take note of any recent adjustments to analyst estimates for NextEra Energy Partners. Recent revisions tend to reflect the latest near-term business trends. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To capitalize on this, we've crafted the Zacks Rank, a unique model that incorporates these estimate changes and offers a practical rating system.
The Zacks Rank system, running from #1 (Strong Buy) to #5 (Strong Sell), holds an admirable track record of superior performance, independently audited, with #1 stocks contributing an average annual return of +25% since 1988. Over the last 30 days, the Zacks Consensus EPS estimate has witnessed an unchanged state. Right now, NextEra Energy Partners possesses a Zacks Rank of #3 (Hold).
Digging into valuation, NextEra Energy Partners currently has a Forward P/E ratio of 11.6. Its industry sports an average Forward P/E of 17.31, so one might conclude that NextEra Energy Partners is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 135, positioning it in the bottom 47% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Don't forget to use Zacks.com to keep track of all these stock-moving metrics, and others, in the upcoming trading sessions.
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