NextEra Energy Partners LP [NEP]: What to Expect when It Reports Earnings

Earnings from NextEra Energy Partners LP [NEP] are scheduled on April 21, 2021, before the market opens. It is expected that the company will report strong earnings for the quarter ending Mar 2021.


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NEP Stock Earnings Outlook For The Current Quarter

The consensus estimates for the quarter suggest that the company would earn $0.28 per share on revenue of $309.49M. Taking a look at the future, the company is projected to report revenue of $354.73M at an earnings per share of $0.45 for the Jun 2021 quarter. The estimates represent year-over-year improvements of 11.20% in revenue and 13.71% in earnings per share for the company.

NEP Stock Earnings Forecast For The Current Year

For the full financial year, NextEra Energy Partners LP [NYSE:NEP] is forecasted to generate revenue of $1.42B. The figure is about $503.0 million above what the company actually reported for the fiscal year 2020. In terms of EPS, it is estimated to be $1.59 in 2021, which is $2.4 higher than the figure in FY20. Based on current estimates, earnings are expected to grow 296.30% this year, 15.70% next year, and 41.90% annually over the next five years. With regard to sales, forecasts suggest an incline of 54.70% in current fiscal year and 11.20% over following year.

NEP Stock Price Performance

At the close of Tuesday’s session, NextEra Energy Partners LP [NYSE:NEP] finished down -3.21% at $71.70. The stock’s highest single-day price was $74.38, and its lowest was $71.40. Its price fall -3.26% in the last five days. Since the beginning of the year, NextEra Energy Partners LP’s shares are up nearly 6.94%. However, the share price is -18.79% below its one year high. The top price reached by the shares of the company was $88.29 on 01/25/21, while the 52-week low came on 03/05/21, when the shares were $63.50. In the past year, shares of the company have risen 59.83%. At 50 days, the moving average achieved is $74.02 while at 200 days, the moving average is $67.24. There were 0.62 million shares traded in the last session, up from 0.57 million in the previous session.

NextEra Energy Partners LP [NYSE:NEP] Stock Valuation Metrics

Investors may find it helpful to look at historical price-sales ratios, and in the case of this stock, 5.89 PS value ratio is reported for the last one year of reported earnings. This is above the average return 2.77 for the industry, which means NEP offers an unattractive investment opportunity than its competitors do.

NEP Share Price Support And Resistance Levels

Based on the daily chart, the immediate backing lies around the 71.70 level, and the violation of this level will cause a further drop to 70.61 level. At the upper end, 76.57 remains a key resistance. As the stock increases, it may find resistance at 75.47. In the 14-day chart, the Relative Strength Index standing at 45.06 suggests a technical neutral stance while the MACD standing at 0.05 indicates price will decrease in the next trading period. Stochastic %K at 58.82% suggests holding the stock while Percent R indicator at 84.69% suggests bearish price movement.

How much is the short interest in NextEra Energy Partners LP?

There have been a drop in short interest in the NextEra Energy Partners LP Financial stock, with short interest down by -0.16 million shares to 2.41 million shares on Feb 25, 2021. According to data provided by Yahoo Finance, the short interest on Mar 30, 2021 stood at 2.25 million shares. This 6.64% increase suggests some bearish sentiment was experienced by the stock. Shorted shares accounted for just 3.03% of the overall float in the stock, while the stock’s days to cover moved to 3.99.

How do analysts view NextEra Energy Partners LP?

In regard to the share price forecast for NextEra Energy Partners LP stock, the analysts, as surveyed by FactSet, forecast the price to reach $87.00 in the next twelve months, representing almost an 17.59% growth from its recent price of $71.70. Among NextEra Energy Partners LP stock projections, $101.00 is the highest analyst target for the stock, while $63.00 is the lowest. Despite this, 18 analysts who share their consensus rating for NEP in 2021 agree that the stock is an Overweight. The latest rating change took place on 3/10/21, when Morgan Stanley Ratings launched coverage of the stock at “Equal-Weight” and assigned a price target of $63.0.

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