Examining the Potential Price Growth of NextEra Energy Partners LP (NEP)


NextEra Energy Partners LP’s filing revealed that its Director Kind Peter H acquired Company’s shares for reported $99558.0 on Apr 27. In the deal valued at $56.89 per share,1,750 shares were bought. As a result of this transaction, Kind Peter H now holds 32,340 shares worth roughly $ 1.59 million.

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Raymond James upgraded its NextEra Energy Partners LP [NEP] rating to an Outperform from a a Mkt perform in a research note published on Friday. PT values the company’s stock at a premium of 18.17 to its Friday closing price.

Price Performance Review of NEP

On Friday, NextEra Energy Partners LP [NYSE:NEP] saw its stock fall -1.56% to $49.10. On the same session, the stock had its day’s lowest price of $48.765, but rose to a high of $50.50. Over the last five days, the stock has gained 1.66%. NextEra Energy Partners LP shares have fallen nearly -29.95% since the year began. Nevertheless, the stocks have fallen -40.19% over the past one year. While a 52-week high of $86.06 was reached on 01/17/23, a 52-week low of $44.24 was recorded on 08/22/23. SMA at 50 days reached $53.24, while 200 days put it at $63.70. A total of 0.78 million shares were traded, compared to the trading of 0.71 million shares in the previous session.

Levels Of Support And Resistance For NEP Stock

The 24-hour chart illustrates a support level at 48.41, which if violated will result in even more drops to 47.72. On the upside, there is a resistance level at 50.15. A further resistance level may holdings at 51.19. The Relative Strength Index (RSI) on the 14-day chart is 46.62, which indicates neutral technical sentiment, while the Moving Average Convergence Divergence (MACD) stands at 2.18, which suggests price will go up in the next trading period. Percent R suggests that price movement has been low at 33.32%. Stochastics %K at 74.36% indicates the stock is a holding.

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

A steep rise in short interest was recorded in NextEra Energy Partners LP stocks on Aug 14, 2023, dropping by -0.9 million shares to a total of 2.97 million shares. Yahoo Finance data shows the prior-month short interest on Jul 13, 2023 was 3.87 million shares. There was a decline of -30.3%, which implies that there is a negative sentiment for the stock. In spite of short shares comprising just 3.21% of the overall stock float, the days-to-cover ratio (short ratio) fell to 2.72.

NextEra Energy Partners LP [NEP] – Who Are The Largest Shareholders?

In filings from BlackRock Alternatives Management, it is revealed that the company now owns 6,533,580 shares, or roughly 6.99% of the outstanding NEP shares. Additionally, Neuberger Berman Investment Advis decreased -1.07% of its stake after which the total value it holdings stand at $224,257,933, while Fidelity Management & Research Co reduced -20.07% of its stake to hold $209.63 million in the firm. Over the last quarter, Jennison Associates LLC sold -108,616 shares of NextEra Energy Partners LP, while Energy Income Partners LLC sold 350,091 shares. At present, ClearBridge Investments Ltd. is holding 2,179,018 shares valued at $118.65 million. M&G Investment Management Ltd. owned 2,171,055 shares of the company at the time of its most recent 13F filing, worth $118.21 million.

According to FactSet, NextEra Energy Partners LP’s share price will average $74.60 in the next year, based on opinions of analysts polled by the firm. This is up nearly 52.37 percent from its previous closing price of $49.88. Analysts expect NextEra Energy Partners LP stock to reach the higher price of $86.00, while the lowest price estimate is $60.00. However, 16 analysts have rated NEP stock as an Overweight in their predictions for 2023.


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