NEP Stock Summary and Trading Ideas (Nextera Energy Partners LP Common Units Representing Limited Partner Interests | NYSE:NEP)

NextEra Energy Partners LP is formed to acquire, manage, and own contracted clean energy projects. It owns interests in wind and solar projects in North America, as well as natural gas infrastructure assets in Texas. Renewable energy assets consist of wind, solar, and solar-plus-storage projects and a stand-alone battery storage project, as well as contracted natural gas pipeline assets. Renewable energy sales generate maximum revenue for the company.

Nextera Energy Partners LP Common Units Representing Limited Partner Interests trades on the NYSE stock market under the symbol NEP.

As of December 12, 2024, NEP stock price declined to $17.64 with 1,318,112 million shares trading.

NEP has a beta of 1.34, meaning it tends to be more sensitive to market movements. NEP has a correlation of 0.13 to the broad based SPY ETF.

NEP has a market cap of $1.65 billion. This is considered a Small Cap stock.

Last quarter Nextera Energy Partners LP Common Units Representing Limited Partner Interests reported $319 million in Revenue and -$.43 earnings per share. This fell short of revenue expectation by $-29 million and missed earnings estimates by -$1.04.

In the last 3 years, NEP traded as high as $87.72 and as low as $15.55.

The top ETF exchange traded funds that NEP belongs to (by Net Assets): EMLP, VPU, QDF, EIPI, SDIV.

NEP has underperformed the market in the last year with a return of -20.8%, while the SPY ETF gained +32.3%. In the last 3 month period, NEP fell short of the market, returning -26.5%, while SPY returned +9.3%. However, in the most recent 2 weeks NEP has outperformed the stock market by returning +1.0%, while SPY returned +0.9%.

NEP support price is $17.40 and resistance is $18.46 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that NEP shares will trade within this expected range on the day.