NextEra Energy Partners NEP is scheduled to release fourth-quarter 2021 earnings on Jan 25; before the market opens. The firm delivered a negative earnings surprise of 62.5% in the last reported quarter.

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

Factors to Note

NextEra Energy Partners’ completion of the acquisition of 400 megawatts (MW) of operating wind projects from a third party and 590 MW of diverse wind and solar projects from Energy Resources in the third quarter is likely to have boosted the performance in the fourth quarter.

Fourth-quarter results of NextEra Energy Partners are likely to have benefited from its ongoing investments in long-term contracted clean energy assets with strong creditworthy counterparties.

Expectation

The Zacks Consensus Estimate for the fourth quarter is pegged at 45 cents per share, indicating a decline of 47.06% from the year-ago reported figure.

What the Quantitative Model Predicts

Our proven model does not conclusively predict 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-eps-surprise | NextEra Energy Partners, LP Quote

Earnings ESP: The firm has an Earning ESP of 0.00%.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 #1. 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.

Murphy USA Inc. MUSA is likely to come up with an earnings beat when it reports fourth-quarter results on Feb 2 after the market closes. Murphy USA has an Earnings ESP of +28.82% and sports a Zacks Rank of #1 at present. MUSA’s dividend yield is 0.6%.

Chevron Corporation CVX is likely to come up with an earnings beat when it reports fourth-quarter results on Jan 28 before the market opens. Chevron Corporation has an Earnings ESP of +6.04% and a Zacks Rank of #3 at present. CVX’s dividend yield is 4.2%.

Magnolia Oil & Gas Corp MGY is likely to come up with an earnings beat when it reports fourth-quarter results on Feb 16 after the market closes. Magnolia Oil & Gas Corp has as an Earnings ESP of +1.76% and a Zacks Rank of #3 at present. MGY’s dividend yield is 0.7%.

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

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Chevron Corporation (CVX) : Free Stock Analysis Report

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