The most recent trading session ended with NextEra Energy Partners (NEP) standing at $17.93, reflecting a -1.05% shift from the previouse trading day's closing. This change lagged the S&P 500's daily gain of 0.82%. Meanwhile, the Dow experienced a drop of 0.22%, and the technology-dominated Nasdaq saw an increase of 1.77%.
Heading into today, shares of the limited partnership for clean-energy projects had gained 13.25% over the past month, outpacing the Oils-Energy sector's loss of 2.1% and the S&P 500's gain of 0.8% in that time.
Market participants will be closely following the financial results of NextEra Energy Partners in its upcoming release. In that report, analysts expect NextEra Energy Partners to post earnings of $0.60 per share. This would mark year-over-year growth of 271.43%. Simultaneously, our latest consensus estimate expects the revenue to be $347.33 million, showing a 49.71% escalation compared to the year-ago quarter.
For the annual period, the Zacks Consensus Estimates anticipate earnings of $1.41 per share and a revenue of $1.28 billion, signifying shifts of +314.71% and +2.67%, respectively, from the last year.
Investors should also take note of any recent adjustments 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 reveals that these estimate alterations are directly linked with the stock price performance in the near future. Investors can capitalize on this by using the Zacks Rank. This model considers these estimate changes and provides a simple, actionable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Over the past month, the Zacks Consensus EPS estimate has moved 1.57% lower. NextEra Energy Partners is currently sporting a Zacks Rank of #3 (Hold).
Looking at its valuation, NextEra Energy Partners is holding a Forward P/E ratio of 12.89. Its industry sports an average Forward P/E of 24.05, so one might conclude that NextEra Energy Partners is trading at a discount comparatively.
The Alternative Energy - Other industry is part of the Oils-Energy sector. Currently, this industry holds a Zacks Industry Rank of 133, positioning it in the bottom 48% of all 250+ industries.
The Zacks Industry Rank is ordered from best to worst in terms of the average Zacks Rank of the individual companies within each of these sectors. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
Be sure to use Zacks.com to monitor all these stock-influencing metrics, and more, throughout the forthcoming trading sessions.
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