In the latest trading session, NextEra Energy Partners (NEP) closed at $18.20, marking a +1.11% move from the previous day. This change outpaced the S&P 500's 0.19% loss on the day. Elsewhere, the Dow lost 0.55%, while the tech-heavy Nasdaq lost 0.18%.
The the stock of limited partnership for clean-energy projects has fallen by 2.81% in the past month, lagging the Oils-Energy sector's gain of 3.07% and the S&P 500's gain of 6.66%.
Analysts and investors alike will be keeping a close eye on the performance of NextEra Energy Partners in its upcoming earnings disclosure. The company is forecasted to report an EPS of $0.60, showcasing a 271.43% upward movement from the corresponding quarter of the prior year. Alongside, our most recent consensus estimate is anticipating revenue of $347.33 million, indicating a 49.71% upward movement from the same quarter last year.
For the full year, the Zacks Consensus Estimates project earnings of $1.41 per share and a revenue of $1.28 billion, demonstrating changes of +314.71% and +2.67%, respectively, from the preceding year.
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. As a result, we can interpret positive estimate revisions as a good sign for the company's business outlook.
Our research suggests that these changes in estimates have a direct relationship with upcoming stock price performance. 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, stretching from #1 (Strong Buy) to #5 (Strong Sell), has a noteworthy track record of outperforming, validated by third-party audits, with stocks rated #1 producing an average annual return of +25% since the year 1988. Over the past month, the Zacks Consensus EPS estimate has shifted 4.26% downward. NextEra Energy Partners is currently sporting a Zacks Rank of #3 (Hold).
Investors should also note NextEra Energy Partners's current valuation metrics, including its Forward P/E ratio of 12.8. This expresses a discount compared to the average Forward P/E of 25.23 of its industry.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This group has a Zacks Industry Rank of 130, putting it in the bottom 49% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our industry groups by measuring the average Zacks Rank of the individual stocks within the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Make sure to utilize Zacks.com to follow all of these stock-moving metrics, and more, in the coming trading sessions.
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