The latest trading session saw NextEra Energy Partners (NEP) ending at $16.91, denoting a +0.83% adjustment from its last day's close. The stock outpaced the S&P 500's daily loss of 0.21%. On the other hand, the Dow registered a loss of 0.16%, and the technology-centric Nasdaq decreased by 0.89%.
The the stock of limited partnership for clean-energy projects has fallen by 4.17% in the past month, leading the Oils-Energy sector's loss of 6.25% and undershooting the S&P 500's loss of 1.56%.
The upcoming earnings release of NextEra Energy Partners will be of great interest to investors. The company is expected to report EPS of $0.52, up 248.57% from the prior-year quarter. Simultaneously, our latest consensus estimate expects the revenue to be $368.65 million, showing a 58.9% escalation compared to the year-ago quarter.
Investors should also note any recent changes to analyst estimates for NextEra Energy Partners. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research demonstrates that these adjustments in estimates directly associate with imminent stock price performance. 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.
Ranging from #1 (Strong Buy) to #5 (Strong Sell), the Zacks Rank system has a proven, outside-audited track record of outperformance, with #1 stocks returning an average of +25% annually since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 0.01% higher. At present, NextEra Energy Partners boasts a Zacks Rank of #3 (Hold).
In terms of valuation, NextEra Energy Partners is currently trading at a Forward P/E ratio of 10.92. For comparison, its industry has an average Forward P/E of 17.7, which means NextEra Energy Partners is trading at a discount to the group.
The Alternative Energy - Other industry is part of the Oils-Energy sector. With its current Zacks Industry Rank of 85, this industry ranks in the top 34% of all industries, numbering over 250.
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.
Ensure to harness Zacks.com to stay updated with all these stock-shifting metrics, among others, in the next trading sessions.
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NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report
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