Brookfield Renewable Partners (NYSE:BEP) PT Lowered to $32.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target decreased by equities researchers at Raymond James from $33.00 to $32.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the utilities provider’s stock. Raymond James’ price target would suggest a potential upside of 49.95% from the company’s previous close.

Several other equities analysts have also commented on BEP. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. National Bankshares boosted their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. restated a “neutral” rating and set a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $21.34 on Thursday. The firm has a 50 day simple moving average of $22.46 and a 200-day simple moving average of $23.84. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $6.10 billion, a PE ratio of -66.69 and a beta of 0.80. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business posted ($0.16) earnings per share. Brookfield Renewable Partners’s revenue for the quarter was up 10.6% compared to the same quarter last year. On average, equities analysts expect that Brookfield Renewable Partners will post -0.01 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in BEP. Royal Bank of Canada lifted its stake in Brookfield Renewable Partners by 0.9% in the third quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock valued at $288,107,000 after acquiring an additional 117,246 shares during the last quarter. Montrusco Bolton Investments Inc. lifted its stake in Brookfield Renewable Partners by 17.4% in the third quarter. Montrusco Bolton Investments Inc. now owns 1,984,628 shares of the utilities provider’s stock valued at $43,318,000 after acquiring an additional 294,302 shares during the last quarter. Baystate Wealth Management LLC acquired a new stake in Brookfield Renewable Partners in the fourth quarter valued at approximately $26,000. Maven Securities LTD acquired a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $1,087,000. Finally, Alpine Global Management LLC acquired a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $282,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.