NextEra Energy Partners LP (NYSE: NEP) – Not A Clear Buying Opportunity?

NextEra Energy Partners LP (NEP) concluded trading on Thursday at a closing price of $25.93, with 4.07 million shares of worth about $105.49 million changed hands on the day. Half year performance of the stock remained negative as price took a plunge of -3.32% during that period and on July 25, 2024 the price saw a loss of about -5.64%. Currently the company’s common shares owned by public are about 93.40M shares, out of which, 90.93M shares are available for trading.

Stock saw a price change of -2.04% in past 5 days and over the past one month there was a price change of -8.73%. Year-to-date (YTD), NEP shares are showing a performance of -14.73% which decreased to -54.16% when we look at its performance for past 12 months. Over the period of past 52 weeks, stock dropped to lowest price of $20.17 but also hit the highest price of $59.40 during that period. The average intraday trading volume for NextEra Energy Partners LP shares is 1.52 million. The stock is currently trading -4.31% below its 20-day simple moving average (SMA20), while that difference is down -13.42% for SMA50 and it goes to -7.73% lower than SMA200.

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NextEra Energy Partners LP (NYSE: NEP) currently have 93.40M outstanding shares and institutions hold larger chunk of about 64.90% of that.

The stock has a current market capitalization of $2.43B and its 3Y-monthly beta is at 1.01. PE ratio of stock for trailing 12 months is 8.16, while it has posted earnings per share of $3.18 in the same period. Its PEG reads 0.44 and has Quick Ratio of 1.22 while making debt-to-equity ratio of 1.63. Volatility of a stock is a metric used to know how much the price of that stock is under influence and for NEP, volatility over the week remained 4.20% while standing at 3.95% over the month.

Stock’s fiscal year EPS is expected to rise by 12.72% while it is estimated to decrease by -17.96% in next year.

On July 01, 2024, RBC Capital Mkts Downgrade their recommendations, while on June 13, 2024, Barclays Downgrade their ratings for the stock with a price target of $25. Stock get a Neutral rating from Mizuho on June 12, 2024.

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