NextEra Energy Partners LP (NYSE: NEP) is -7.07% lower on its value in year-to-date trading and has touched a low of $20.17 and a high of $64.43 in the current 52-week trading range. The question becomes, what are the chances the stock will make a comeback and enjoy potential growth. Why not look at analysts view on what the future holds for the stock. The NEP stock was last observed hovering at around $27.90 in the last trading session, with the day’s gains setting it 0.36%.
Currently trading at $28.26, the stock is 0.79% and -0.03% below its SMA20 and SMA50 respectively. However, with a daily trading volume of 1.28 million and changing 1.29% at the moment leaves the stock -24.49% off its SMA200. NEP registered -54.07% loss for a year compared to 6-month loss of -40.95%. The firm has a 50-day simple moving average (SMA 50) of $8.03 and a 200-day simple moving average (SMA200) of $11.22.
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The stock witnessed a 4.32% gain in the last 1 month and extending the period to 3 months gives it a -4.94%, and is 1.25% up over the last 5 days. If we measure the stock’s price variations over the week and the month, we find that the volatility rates stand at 3.19% over the week and 3.17% over the month.
Current P/E ratio is 13.22 and Fwd P/E is 16.85. Profit margin for the company is 15.95%. Distance from 52-week low is 40.11% and -56.14% from its 52-week high. The company has generated returns on investments over the last 12 months (2.34%).
NextEra Energy Partners LP quarterly earnings per share for the current quarter are estimated at $0.22 with sales reaching $331.8M over the same period.The EPS is expected to shrink by -36.99% this year, but quarterly earnings will post 30.20% year-over-year. Quarterly sales are estimated to shrink -8.90% in year-over-year returns.
NextEra Energy Partners LP (NEP) Top Institutional Holders
427 institutions hold shares in NextEra Energy Partners LP (NEP), with institutional investors hold 72.54% of the company’s shares. The shares outstanding are 93.40M, and float is at 90.93M with Short Float at 4.08%. Institutions hold 70.55% of the Float.
The top institutional shareholder in the company is Blackrock Inc. with over 7.07 million shares valued at $414.33 million. The investor’s holdings represent 7.56% of the NEP Shares outstanding. As of Jun 29, 2023, the second largest holder is Neuberger Berman Group, LLC with 4.12 million shares valued at $241.51 million to account for 4.41% of the shares outstanding. The other top investors are FMR, LLC which holds 4.09 million shares representing 4.38% and valued at over $239.89 million, while Jennison Associates LLC holds 2.84% of the shares totaling 2.65 million with a market value of $155.45 million.
NextEra Energy Partners LP (NEP) Insider Activity
The most recent transaction is an insider purchase by Kind Peter H,the company’sDirector. SEC filings show that Kind Peter H bought 1,750 shares of the company’s common stock on Apr 27 ’23 at a price of $56.89 per share for a total of $99558.0. Following the purchase, the insider now owns 32340.0 shares.
