The stock of NextEra Energy Partners LP (NYSE: NEP) has increased by 7.06 when compared to last closing price of 27.46.Despite this, the company has seen a gain of 8.89% in its stock price over the last five trading days. Zacks Investment Research reported 2024-04-23 that NextEra Energy Partners’ (NEP) first-quarter 2024 earnings and revenues increase year over year. Total operating expenses decrease during the same period.
Is It Worth Investing in NextEra Energy Partners LP (NYSE: NEP) Right Now?
The price-to-earnings ratio for NextEra Energy Partners LP (NYSE: NEP) is above average at 13.76x, Company’s 36-month beta value is 1.01.Analysts have differing opinions on the stock, with 3 analysts rating it as a “buy,” 4 as “overweight,” 5 as “hold,” and 1 as “sell.”
The public float for NEP is 90.93M, and currently, short sellers hold a 5.34% ratio of that floaft. The average trading volume of NEP on April 23, 2024 was 1.34M shares.
NEP’s Market Performance
The stock of NextEra Energy Partners LP (NEP) has seen a 8.89% increase in the past week, with a 4.03% rise in the past month, and a 5.57% gain in the past quarter. The volatility ratio for the week is 3.14%, and the volatility levels for the past 30 days are at 3.26% for NEP. The simple moving average for the last 20 days is 3.35% for NEP’s stock, with a simple moving average of -13.71% for the last 200 days.
Analysts’ Opinion of NEP
Many brokerage firms have already submitted their reports for NEP stocks, with Barclays repeating the rating for NEP by listing it as a “Equal Weight.” The predicted price for NEP in the upcoming period, according to Barclays is $32 based on the research report published on April 10, 2024 of the current year 2024.
Evercore ISI, on the other hand, stated in their research note that they expect to see NEP reach a price target of $43. The rating they have provided for NEP stocks is “Outperform” according to the report published on February 13th, 2024.
NEP Trading at 4.09% from the 50-Day Moving Average
After a stumble in the market that brought NEP to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -54.37% of loss for the given period.
Volatility was left at 3.26%, however, over the last 30 days, the volatility rate increased by 3.14%, as shares surge +3.76% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading +3.17% upper at present.
During the last 5 trading sessions, NEP rose by +7.33%, which changed the moving average for the period of 200-days by -48.74% in comparison to the 20-day moving average, which settled at $28.50. In addition, NextEra Energy Partners LP saw -3.32% in overturn over a single year, with a tendency to cut further losses.
Insider Trading
Reports are indicating that there were more than several insider trading activities at NEP starting from Kind Peter H, who purchase 1,750 shares at the price of $56.89 back on Apr 27 ’23. After this action, Kind Peter H now owns 32,340 shares of NextEra Energy Partners LP, valued at $99,558 using the latest closing price.
Stock Fundamentals for NEP
Current profitability levels for the company are sitting at:
- 0.13 for the present operating margin
- 0.46 for the gross margin
The net margin for NextEra Energy Partners LP stands at 0.08. The total capital return value is set at 0.01. Equity return is now at value -4.44, with -0.67 for asset returns.
Based on NextEra Energy Partners LP (NEP), the company’s capital structure generated 0.64 points at debt to capital in total, while cash flow to debt ratio is standing at 0.12. The debt to equity ratio resting at 1.76. The interest coverage ratio of the stock is 0.38.
Currently, EBITDA for the company is 575.0 million with net debt to EBITDA at 7.53. When we switch over and look at the enterprise to sales, we see a ratio of 7.01. The receivables turnover for the company is 0.71for trailing twelve months and the total asset turnover is 0.06. The liquidity ratio also appears to be rather interesting for investors as it stands at 1.33.
Conclusion
In a nutshell, NextEra Energy Partners LP (NEP) has experienced a mixed performance in recent times. The stock has received mixed “buy” and “hold” ratings from analysts. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
