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NextEra Energy Partners (NEP) Gains But Lags Market: What You Should Know
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NextEra Energy Partners (NEP - Free Report) closed at $69.33 in the latest trading session, marking a +0.64% move from the prior day. The stock lagged the S&P 500's daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the limited partnership for clean-energy projects had lost 13.72% over the past month, lagging the Oils-Energy sector's gain of 4.35% and the S&P 500's loss of 4.82% in that time.
Wall Street will be looking for positivity from NextEra Energy Partners as it approaches its next earnings report date. This is expected to be October 28, 2022. In that report, analysts expect NextEra Energy Partners to post earnings of $0.65 per share. This would mark year-over-year growth of 170.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $394.15 million, up 56.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.52 per share and revenue of $1.44 billion. These totals would mark changes of +155.37% and +46.71%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for NextEra Energy Partners. These recent revisions tend to reflect the evolving nature of short-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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NextEra Energy Partners is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that NextEra Energy Partners has a Forward P/E ratio of 15.23 right now. This represents a discount compared to its industry's average Forward P/E of 28.12.
Also, we should mention that NEP has a PEG ratio of 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEP's industry had an average PEG ratio of 1.52 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.
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NextEra Energy Partners (NEP) Gains But Lags Market: What You Should Know
NextEra Energy Partners (NEP - Free Report) closed at $69.33 in the latest trading session, marking a +0.64% move from the prior day. The stock lagged the S&P 500's daily gain of 2.37%. Elsewhere, the Dow gained 2.47%, while the tech-heavy Nasdaq lost 0.02%.
Heading into today, shares of the limited partnership for clean-energy projects had lost 13.72% over the past month, lagging the Oils-Energy sector's gain of 4.35% and the S&P 500's loss of 4.82% in that time.
Wall Street will be looking for positivity from NextEra Energy Partners as it approaches its next earnings report date. This is expected to be October 28, 2022. In that report, analysts expect NextEra Energy Partners to post earnings of $0.65 per share. This would mark year-over-year growth of 170.83%. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $394.15 million, up 56.41% from the year-ago period.
Looking at the full year, our Zacks Consensus Estimates suggest analysts are expecting earnings of $4.52 per share and revenue of $1.44 billion. These totals would mark changes of +155.37% and +46.71%, respectively, from last year.
Investors might also notice recent changes to analyst estimates for NextEra Energy Partners. These recent revisions tend to reflect the evolving nature of short-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. 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, which ranges from #1 (Strong Buy) to #5 (Strong Sell), has an impressive outside-audited track record of outperformance, with #1 stocks generating an average annual return of +25% since 1988. The Zacks Consensus EPS estimate remained stagnant within the past month. NextEra Energy Partners is currently a Zacks Rank #2 (Buy).
Valuation is also important, so investors should note that NextEra Energy Partners has a Forward P/E ratio of 15.23 right now. This represents a discount compared to its industry's average Forward P/E of 28.12.
Also, we should mention that NEP has a PEG ratio of 1.52. This metric is used similarly to the famous P/E ratio, but the PEG ratio also takes into account the stock's expected earnings growth rate. NEP's industry had an average PEG ratio of 1.52 as of yesterday's close.
The Alternative Energy - Other industry is part of the Oils-Energy sector. This industry currently has a Zacks Industry Rank of 61, which puts it in the top 25% of all 250+ industries.
The Zacks Industry Rank gauges the strength of our individual 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.
Be sure to follow all of these stock-moving metrics, and many more, on Zacks.com.