Is Buying Stock Like NextEra Energy Partners, LP (NEP) After This Multiple Top Pattern a Winning Strategy?

January 19, 2018 - By Stephen Andrade

Investors sentiment decreased to 0.92 in Q3 2017. Its down 0.34, from 1.26 in 2017Q2. It dived, as 15 investors sold NextEra Energy Partners, LP shares while 44 reduced holdings. 18 funds opened positions while 36 raised stakes. 44.14 million shares or 17.54% less from 53.53 million shares in 2017Q2 were reported.
Beach Counsel Pa stated it has 5.64% of its portfolio in NextEra Energy Partners, LP (NYSE:NEP). Zurcher Kantonalbank (Zurich Cantonalbank) holds 0% or 3,172 shares in its portfolio. Glenmede Company Na invested 0.02% of its portfolio in NextEra Energy Partners, LP (NYSE:NEP). Panagora Asset Mngmt holds 157,735 shares. Westwood Hldgs Gru has invested 0% in NextEra Energy Partners, LP (NYSE:NEP). Beach Investment Mgmt Ltd Liability Corporation holds 8.43% of its portfolio in NextEra Energy Partners, LP (NYSE:NEP) for 120,283 shares. Rare Infrastructure Limited invested in 0.8% or 271,190 shares. 1832 Asset Mngmt Ltd Partnership owns 731,859 shares. Cypress Asset Tx holds 0.08% in NextEra Energy Partners, LP (NYSE:NEP) or 8,900 shares. Cubist Systematic Strategies Limited Liability Company has 0.01% invested in NextEra Energy Partners, LP (NYSE:NEP). Johnson Investment Counsel invested in 0.01% or 11,000 shares. Peak6 Invs Ltd Partnership invested in 0% or 19,296 shares. Gabelli Funds Limited Com has 69,500 shares for 0.02% of their portfolio. Stephens Incorporated Ar holds 5,101 shares or 0.01% of its portfolio. Ameriprise Fincl owns 25,650 shares for 0% of their portfolio.

The stock of NextEra Energy Partners, LP (NEP) shows a multiple tops pattern with $43.75 target or 9.00 % above today’s $40.14 share price. The 5 months chart pattern indicates low risk for the $2.18B company. It was reported on Jan, 19 by Finviz.com. If the $43.75 price target is reached, the company will be worth $196.02M more.
Multiple tops are chart patterns with decent performance in a bull market. The failure rate is higher but the average decline is reasonable. Back-tests of such patterns show that the break even failure rate is 10%, the average rise: 19%, the throwback rate: 61% and the percentage of stocks meeting their price targets: 40%.

The stock increased 0.40% or $0.16 during the last trading session, reaching $40.14. About 526,493 shares traded or 95.97% up from the average. NextEra Energy Partners, LP (NYSE:NEP) has risen 18.85% since January 19, 2017 and is uptrending. It has outperformed by 2.15% the S&P500.

Analysts await NextEra Energy Partners, LP (NYSE:NEP) to report earnings on January, 26. They expect $0.27 earnings per share, down 70.33 % or $0.64 from last year’s $0.91 per share. NEP’s profit will be $14.65M for 37.17 P/E if the $0.27 EPS becomes a reality. After $0.01 actual earnings per share reported by NextEra Energy Partners, LP for the previous quarter, Wall Street now forecasts 2,600.00 % EPS growth.

NextEra Energy Partners, LP (NYSE:NEP) Ratings Coverage

Among 21 analysts covering Nextera Energy Partners (NYSE:NEP), 15 have Buy rating, 1 Sell and 5 Hold. Therefore 71% are positive. Nextera Energy Partners has $47 highest and $29 lowest target. $40.29’s average target is 0.37% above currents $40.14 stock price. Nextera Energy Partners had 37 analyst reports since July 27, 2015 according to SRatingsIntel. Oppenheimer maintained NextEra Energy Partners, LP (NYSE:NEP) on Wednesday, July 26 with “Buy” rating. The company was upgraded on Monday, October 19 by Goldman Sachs. The rating was initiated by Guggenheim on Tuesday, January 2 with “Buy”. The company was maintained on Tuesday, August 4 by Mizuho. The company was maintained on Sunday, October 8 by RBC Capital Markets. The firm has “Mkt Outperform” rating by Avondale given on Tuesday, November 1. The firm has “Hold” rating given on Thursday, July 6 by RBC Capital Markets. The company was initiated on Friday, February 17 by Raymond James. As per Tuesday, April 5, the company rating was initiated by RBC Capital Markets. The stock of NextEra Energy Partners, LP (NYSE:NEP) has “Outperform” rating given on Friday, November 18 by Credit Suisse.

More notable recent NextEra Energy Partners, LP (NYSE:NEP) news were published by: Prnewswire.com which released: “NextEra Energy Partners, LP announces date for release of fourth-quarter and …” on January 12, 2018, also Seekingalpha.com with their article: “NextEra Energy Partners Is A Hold” published on November 07, 2017, Seekingalpha.com published: “The Wind Is Blowing, The Sun Is Shining, And NextEra Energy Partners Is An ATM” on November 20, 2017. More interesting news about NextEra Energy Partners, LP (NYSE:NEP) were released by: Seekingalpha.com and their article: “NextEra Energy Partners Is The Best Yieldco On The Market” published on November 21, 2017 as well as Seekingalpha.com‘s news article titled: “NextEra Energy Partners: Great Company, But Still Speculative” with publication date: January 10, 2018.

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