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What's in Store for NextEra Energy (NEP) in Q1 Earnings?

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NextEra Energy Partners NEP is scheduled to release first-quarter 2022 earnings on Apr 21 before market open. The firm delivered a negative earnings surprise of 126.7% in the last reported quarter.

Let’s see how things have shaped up before the upcoming earnings announcement.

Factors to Note

In 2021, NextEra Energy Partners acquired interests in nearly 1,900 net megawatts (MW) of long-term contracted clean energy assets and completed two acquisitions of 500 MW of operating wind projects from a third party. Contributions from the acquired and organic assets are likely to have boosted NEP’s performance in the first quarter.

Expectation

The Zacks Consensus Estimate for first-quarter earnings is pegged at 42 cents per share, indicating a decline of 84.2% from the year-ago reported figure.

The Zacks Consensus Estimate for first-quarter revenues is pegged at $310.5 million, indicating a rise of 26.2% from the year-ago reported figure.

What the Quantitative Model Predicts

Our proven model does not conclusively predict an earnings beat for NextEra Energy Partners this time. The combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat, which is not the case here as you will see below.

NextEra Energy Partners, LP Price and EPS Surprise

NextEra Energy Partners, LP Price and EPS Surprise
NextEra Energy Partners, LP Price and EPS Surprise

NextEra Energy Partners, LP price-eps-surprise | NextEra Energy Partners, LP Quote

Earnings ESP: NextEra Energy Partners has an Earnings ESP of -10.00%. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.

Zacks Rank: Currently, NEP carries a Zacks Rank #4 (Sell).

You can see the complete list of today’s Zacks #1 Rank stocks here.

Stocks to Consider

Investors can consider the following players from the same sector who have the right combination of elements to beat earnings in the upcoming releases.

CNX Resources Corporation CNX is likely to come up with an earnings beat when it reports first-quarter results on Apr 28 before market open. CNX Resources has an Earnings ESP of +6.90% and carries a Zacks Rank #2 at present. CNX’s long-term (three to five years) earnings growth is projected at 20.6%.

DVN Energy Corporation DVN is likely to come up with an earnings beat when it reports fourth-quarter results on May 2 after market close. DVN Energy has an Earnings ESP of +2.05% and sports a Zacks Rank of #1 at present. DVN’s long-term earnings growth is projected at 51.4%.

ONEOK Inc. OKE is likely to come up with an earnings beat when it reports first-quarter results on May 3 after market close. ONEOK has an Earnings ESP of +6.26% and carries a Zacks Rank of #2 at present. OKE’s long-term earnings growth is projected at 8.4%.

Stay on top of upcoming earnings announcements with the Zacks Earnings Calendar.


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ONEOK, Inc. (OKE) : Free Stock Analysis Report

CNX Resources Corporation. (CNX) : Free Stock Analysis Report

NextEra Energy Partners, LP (NEP) : Free Stock Analysis Report

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