NextEra Energy Partners reported its third-quarter operating earnings per unit of 93 cents, beating Zacks Consensus Estimate of 63 cents.
Operating revenues were up +19.8% from the year-ago quarter to of $302 million on the back of new projects. However, it was below the Zacks Consensus Estimate of $415 million.
NextEra board of directors announced a quarterly distribution of 78.25 cents per unit. The cash distribution per common unit was hiked almost 15% on an annualized basis from the year-ago quarter, and the distribution will be payable on Nov 14, 2022 to unitholders of record as of Nov 4, 2022.
The company reaffirmed its 2022 EBITDA forecast in the range of $1.785-$1.985 billion. For, 2023 it is expecting adjusted EBITDA in a range of $2.22 billion to $2.42 billion.
NEP may jump back above the lower band and head toward the middle band. Traders may consider buying the stock or exploring call options. In of 44 cases where NEP's price broke its lower Bollinger Band, its price rose further in the following month. The odds of a continued upward trend are .
The Momentum Indicator moved above the 0 level on April 24, 2024. You may want to consider a long position or call options on NEP as a result. In of 86 past instances where the momentum indicator moved above 0, the stock continued to climb. The odds of a continued upward trend are .
The Moving Average Convergence Divergence (MACD) for NEP just turned positive on April 24, 2024. Looking at past instances where NEP's MACD turned positive, the stock continued to rise in of 37 cases over the following month. The odds of a continued upward trend are .
NEP moved above its 50-day moving average on April 23, 2024 date and that indicates a change from a downward trend to an upward trend.
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where NEP advanced for three days, in of 305 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 279 cases where NEP Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
The Stochastic Oscillator entered the overbought zone. Expect a price pull-back in the foreseeable future.
The 10-day moving average for NEP crossed bearishly below the 50-day moving average on April 18, 2024. This indicates that the trend has shifted lower and could be considered a sell signal. In of 14 past instances when the 10-day crossed below the 50-day, the stock continued to move higher over the following month. The odds of a continued downward trend are .
Following a 3-day decline, the stock is projected to fall further. Considering past instances where NEP declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is seriously undervalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (0.776) is normal, around the industry mean (2.778). P/E Ratio (87.118) is within average values for comparable stocks, (98.732). Projected Growth (PEG Ratio) (4.175) is also within normal values, averaging (2.866). Dividend Yield (0.116) settles around the average of (0.118) among similar stocks. P/S Ratio (2.517) is also within normal values, averaging (22.355).
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating steady price growth. NEP’s price grows at a higher rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. NEP’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 88, placing this stock worse than average.
The average fundamental analysis ratings, where 1 is best and 100 is worst, are as follows
a company which operates, owns and acquires contracted clean energy projects with stable, long-term cash flows
Industry AlternativePowerGeneration