NextEra Energy Partners LP (NYSE: NEP) Trading under Its 20 Day MA ($28.08), Why Showing An Interesting Price Pattern?

NextEra Energy Partners LP (NYSE:NEP) does about 1.55M shares in volume on a normal day but saw 1348375 shares change hands in the recent trading day. The company now has a market cap of 2.43B USD. Its current market price is $25.99, marking a decrease of -2.84% compared to the previous close of $26.75. The 52 week high reached by this stock is $59.90 whilst the lowest price level in 52 weeks is $20.17. The script in recent trading has seen the stock touch a high of $95 and a low of $30.

NextEra Energy Partners LP (NEP) has a 20-day trading average at $28.08 and the current price is -56.61% off the 52-week high compared with 28.85% distance from its 52-week low. The 50-day simple moving average of the closing price is $30.53 and its 200-day simple moving average is $28.50. If we look at the stock’s price movements over the week, volatility stands at 3.61%, which decreases to 3.51% over 1 month. It is also key to look at other market indicators of price movement for the stock, where we see that the relative strength index (RSI) is at 34.94 to suggest the stock is neutral.

The consensus objective for the share price is $31.14, suggesting that the stock has a potential upside of 16.54% over the period. The median price target is 66.68% away from the current levels at $78.

5 analysts have rated it as a buy and 3 have advised that investors hold their positions. The consensus recommendation rating is Buy and Wall Street’s advice is for investors to Moderate Buy the stock.

RBC Capital Mkts also downgraded the stock to “Sector Perform” from Outperform on July 01, 2024 at a price target of $38-$30. Barclays downgraded its price target at $32-$25.

NextEra Energy Partners LP (NEP) stock is up 3.09% over the week and -21.05% over the past month. Its price is -14.53% year-to-date and -54.02% over the past year.

Its 12-month price target is $78. To reach the target analysts have set, the stock logically needs to grow 16.54 percent from here. Of course, the average price target is just what the average analysts believe a stock will be worth in the next 52 weeks, and is only one metric. There are analysts with lower targets than the average, including one bearish Wall Street research firm advocating investors to wait for the price to pull back to $30, given the recent momentum. And then, on the bullish side of things, one analyst is expecting the stock to peak at $95.

The company has a return on investment of 3.34% and return on equity of -1.98%. The price to earnings ratio (P/E ratio) amounts to 8.53 while the forward price to earnings ratio is 14.40. The beta has a value of 1.01. Price to book ratio is 0.68 and price to sales ratio is 2.01.