Brookfield Renewable Partners (NYSE:BEP) Receives New Coverage from Analysts at StockNews.com

Equities research analysts at StockNews.com assumed coverage on shares of Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) in a report released on Friday. The brokerage set a “sell” rating on the utilities provider’s stock.

Several other research analysts have also recently commented on the stock. BMO Capital Markets raised their target price on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday, May 6th. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research note on Wednesday, June 12th. TD Securities lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company a “buy” rating in a research note on Wednesday, May 29th. Royal Bank of Canada lifted their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. Finally, CIBC lifted their price objective on shares of Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday, May 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $31.17.

Read Our Latest Stock Analysis on Brookfield Renewable Partners

Brookfield Renewable Partners Trading Down 0.7 %

Shares of NYSE:BEP opened at $24.52 on Friday. The company has a market capitalization of $6.99 billion, a P/E ratio of -53.30 and a beta of 0.94. The company has a debt-to-equity ratio of 0.88, a quick ratio of 0.56 and a current ratio of 0.56. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $30.32. The company has a 50-day simple moving average of $25.39 and a 200 day simple moving average of $24.81.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last announced its earnings results on Friday, May 3rd. The utilities provider reported ($0.23) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.24). Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. The business had revenue of $875.00 million for the quarter, compared to the consensus estimate of $828.39 million. Sell-side analysts forecast that Brookfield Renewable Partners will post -0.49 earnings per share for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds have recently added to or reduced their stakes in BEP. Baystate Wealth Management LLC acquired a new stake in Brookfield Renewable Partners in the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC acquired a new stake in Brookfield Renewable Partners in the fourth quarter valued at approximately $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $31,000. Evermay Wealth Management LLC acquired a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $49,000. Finally, Clear Point Advisors Inc. acquired a new stake in Brookfield Renewable Partners in the first quarter valued at approximately $49,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

(Get Free Report)

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.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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