NextEra Energy Partners LP Stock Forecast
Green day on Wednesday for NextEra Energy Partners LP
(Updated on Apr 17, 2024)
The NextEra Energy Partners LP stock price gained 1.41% on the last trading day (Wednesday, 17th Apr 2024), rising from $27.00 to $27.38. During the last trading day the stock fluctuated 4.02% from a day low at $26.62 to a day high of $27.69. The price has been going up and down for this period, and there has been a -5.55% loss for the last 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 224 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $44.88 million.
The stock is at the lower part of a wide and horizontal trend in the short term, and normally this may pose a good buying opportunity, though a breakdown through the bottom trend line at $26.53 will give a strong sell signal and a trend shift may be expected. Given the current horizontal trend, you can expect NextEra Energy Partners LP stock with a 90% probability to be traded between $26.70 and $31.83 at the end of this 3-month period. A break of a horizontal trend is often followed by a large increase in the volume, and stocks seldom manage to go directly from the bottom of a trend up to the top. Stocks turning up in the middle of a horizontal trend are therefore considered to be potential runners.
Ready to grow your portfolio? Here's your beginner's guide to opening a free brokerage account.
NEP Signals & Forecast
A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 1.41%. Further rise is indicated until a new top pivot has been found. Volume is rising along with the price. This is considered to be a good technical signal. Some negative signals were issued as well, and these may have some influence on the near short-term development. The NextEra Energy Partners LP stock holds sell signals from both short and long-term Moving Averages giving a more negative forecast for the stock. Also, there is a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections up, there will be some resistance from the lines at $28.09 and $28.44. A break-up above any of these levels will issue buy signals. Furthermore, there is currently a sell signal from the 3 month Moving Average Convergence Divergence (MACD).
Support, Risk & Stop-loss for NextEra Energy Partners LP stock
NextEra Energy Partners LP finds support from accumulated volume at $27.10 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.
This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.07 between high and low, or 4.02%. For the last week, the stock has had daily average volatility of 4.50%.
Our recommended stop-loss: $25.83 (-5.67%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 1 day ago.)
Trading Expectations (NEP) For The Upcoming Trading Day Of Thursday 18th
For the upcoming trading day on Thursday, 18th we expect NextEra Energy Partners LP to open at $27.23, and during the day (based on 14 day Average True Range), to move between $26.33 and $28.43, which gives a possible trading interval of +/-$1.05 (+/-3.85%) up or down from last closing price. If NextEra Energy Partners LP takes out the full calculated possible swing range there will be an estimated 7.70% move between the lowest and the highest trading price during the day.
Since the stock is closer to the support from accumulated volume at $27.10 (1.02%) than the resistance at $27.91 (1.94%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..
Earnings coming up
NextEra Energy Partners LP will release earnings BMO on Tuesday, April 23, 2024.The consensus among the analysts for the expected earnings (EPS) is $0.170. We will update the financials statements for NextEra Energy Partners LP, that can be found here as soon as the records are public. Our systems has calculated a possible swing of +/- 5.53% in the first trading day after earnings release.
Is NextEra Energy Partners LP stock A Buy?
NextEra Energy Partners LP holds several negative signals and this should be a sell candidate, but due to the general chance for a turnaround situation it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development.
Current score: 0.848 Hold/Accumulate Unchanged
Predicted Opening Price for NextEra Energy Partners LP of Thursday, April 18, 2024
| Fair opening price April 18, 2024 | Current price |
|---|---|
| $27.23 ( 0.548%) | $27.38 |
The predicted opening price is based on yesterday's movements between high, low, and closing price.
Trading levels for NEP
Fibonacci Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 28.30 | 3.36 % | |
| R2 | 27.89 | 1.87 % | ||
| R1 | 27.64 | 0.94 % | ||
| Current price: | 27.38 | |||
| Support | S1 | 26.82 | -2.04 % | |
| S2 | 26.57 | -2.96 % | ||
| S3 | 26.16 | -4.46 % |
Accumulated Volume Support & Resistance Levels
| Level | Price | |||
|---|---|---|---|---|
| Resistance | R3 | 29.20 | 6.65 % | |
| R2 | 27.93 | 2.01 % | ||
| R1 | 27.91 | 1.94 % | ||
| Current price | 27.38 | |||
| Support | S1 | 27.10 | -1.02% | |
| S2 | 27.09 | -1.06% | ||
| S3 | 27.00 | -1.39% |
NEP Dividend Payout History
| # | Ex-Date | Pay Date | Amount | Yield | |
|---|---|---|---|---|---|
| 1 | Jan 24, 2024 | Feb 05, 2024 | Feb 14, 2024 | $0.88 | 3.11% |
| 2 | Oct 24, 2023 | Nov 03, 2023 | Nov 14, 2023 | $0.87 | 3.56% |
| 3 | Jul 24, 2023 | Aug 03, 2023 | Aug 14, 2023 | $0.85 | 1.81% |
| 4 | Apr 24, 2023 | May 04, 2023 | May 15, 2023 | $0.84 | 1.36% |
| 5 | Jan 25, 2023 | Feb 03, 2023 | May 15, 2023 | $0.81 | 1.32% |
FAQ
Click here for our free guide on how to buy NextEra Energy Partners LP Stock.
