NextEra Energy Partners LP (NYSE: NEP) stock jumped 0.74% on Friday to $23.26 against a previous-day closing price of $23.09. With 1.71 million shares changed hands, the volume of the stock remained lighter than its average volume of 2.75 million shares. During the session, the Utilities – Renewable company that operates in wider Utilities sector, reached to the highest price of $23.50 whereas the lowest price it dropped to was $22.44. The 52-week range on NEP shows that it touched its highest point at $81.32 and its lowest point at $20.17 during that stretch. It currently has a 1-year price target of $32.68. With its current market cap of 2.17 billion, NEP has annualized dividend of $3.42 while the current yield stands at 14.70%. Beta for the stock currently stands at 0.92.

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Price Performance and Earnings:

Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of NEP was down-trending over the past week, with a drop of -1.48%, but this was up by 1.88% over a month. Three-month performance dropped to -48.05% while six-month performance fell -59.83%. The stock lost -70.43% in the past year, while it has lost -66.81% so far this year. A look at the trailing 12-month EPS for NEP yields 1.34 with Next year EPS estimates of 1.83. For the next quarter, that number is 0.53. This implies an EPS growth rate of -69.83% for this year and 8.04% for next year.

Float and Shares Shorts:

At present, 93.43 million NEP shares are outstanding with a float of 91.49 million shares on hand for trading. On Oct 30, 2023, short shares totaled 2.54 million, which was 2.72% higher than short shares on Sep 28, 2023. In addition to PEP as the firm’s Pepsico, Inc., NEE serves as its NextEra Energy, Inc..

Institutional Ownership:

Through their ownership of 91.99% of NEP’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 45.17% of NEP, in contrast to 35.13% held by mutual funds. Shares owned by individuals account for 0.50%. As the largest shareholder in NEP with 6.99% of the stake, BlackRock Alternatives Management holds 6,533,580 shares worth 6,533,580. A second-largest stockholder of NEP, Fidelity Management & Research Co, holds 4,603,845 shares, controlling over 4.93% of the firm’s shares. Neuberger Berman Investment Advis is the third largest shareholder in NEP, holding 4,033,628 shares or 4.32% stake. With a 1.91% stake in NEP, the Fidelity Advisor Series I -Growth is the largest stakeholder. A total of 1,781,700 shares are owned by the mutual fund manager. The PGIM Jennison Utility Fund, which owns about 1.79% of NEP stock, is the second-largest Mutual Fund holder. It holds 1,672,438 shares valued at 45.27 million. First Trust North American Energy holds 1.79% of the stake in NEP, owning 1,668,043 shares worth 45.15 million.

Analysts Ratings:

Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for NEP since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With NEP analysts setting a high price target of $50.00 and a low target of $15.50, the average target price over the next 12 months is $32.68. Based on these targets, NEP could surge 114.96% to reach the target high and fall by -33.36% to reach the target low. Reaching the average price target will result in a growth of 40.5% from current levels.

Summary of Insider Activity:

Insiders traded NEP stock several times over the past three months with 0 Buys and 0 Sells. In these transactions, 0 shares were bought while 0 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 6 over the past year. The total number of shares bought during that period was 35,590 while 5,684 shares were sold.

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