Brookfield Renewable Partners (NYSE:BEP) Given New $40.00 Price Target at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price increased by equities researchers at CIBC from $39.00 to $40.00 in a report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. CIBC’s target price indicates a potential upside of 76.68% from the stock’s current price.

Other analysts have also recently issued reports about the stock. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 target price on the stock in a report on Thursday, December 12th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Thursday, December 26th. National Bankshares cut their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, UBS Group raised shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $24.00 to $31.00 in a report on Monday, September 30th. One research analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average target price of $32.44.

Brookfield Renewable Partners Trading Down 4.1 %

Shares of NYSE BEP traded down $0.97 during midday trading on Thursday, hitting $22.64. The stock had a trading volume of 722,740 shares, compared to its average volume of 550,040. The company has a fifty day moving average price of $24.52 and a 200 day moving average price of $25.25. The company has a market capitalization of $6.45 billion, a price-to-earnings ratio of -27.61 and a beta of 0.95. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. During the same quarter last year, the firm posted ($0.14) EPS. On average, analysts predict that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth about $28,000. Waverton Investment Management Ltd bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth about $178,000. Barclays PLC grew its holdings in Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Creative Planning acquired a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $206,000. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

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.