Brookfield Renewable Partners (NYSE:BEP) Coverage Initiated by Analysts at Barclays

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Analysts at Barclays initiated coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research note issued to investors on Thursday, MarketBeat.com reports. The brokerage set an “overweight” rating and a $40.00 price target on the utilities provider’s stock. Barclays‘s price target suggests a potential upside of 11.33% from the stock’s current price.

BEP has been the subject of several other research reports. Zacks Investment Research raised HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd. Wells Fargo & Co reissued a “buy” rating and set a $36.00 price objective on shares of Brookfield Renewable Partners in a research report on Thursday, April 4th. Raymond James reissued a “market perform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Thursday, July 4th. Finally, Desjardins boosted their price objective on Stella-Jones from C$50.00 to C$54.00 in a research report on Friday, May 3rd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. Brookfield Renewable Partners currently has an average rating of “Hold” and an average price target of $35.57.

NYSE BEP opened at $35.93 on Thursday. Brookfield Renewable Partners has a twelve month low of $24.51 and a twelve month high of $36.51. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.57. The firm has a market cap of $6.50 billion, a PE ratio of 151.42, a PEG ratio of 11.05 and a beta of 0.51. The business’s 50-day simple moving average is $34.08.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.14 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.02). Brookfield Renewable Partners had a return on equity of 1.47% and a net margin of 7.20%. The business had revenue of $825.00 million for the quarter, compared to analyst estimates of $839.76 million. As a group, sell-side analysts predict that Brookfield Renewable Partners will post 0.47 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares of BEP. Karpas Strategies LLC raised its holdings in Brookfield Renewable Partners by 2.0% in the 1st quarter. Karpas Strategies LLC now owns 130,625 shares of the utilities provider’s stock valued at $4,173,000 after acquiring an additional 2,550 shares in the last quarter. FMR LLC raised its holdings in Brookfield Renewable Partners by 69.9% in the 4th quarter. FMR LLC now owns 338,291 shares of the utilities provider’s stock valued at $8,760,000 after acquiring an additional 139,169 shares in the last quarter. Triad Investment Management raised its holdings in Brookfield Renewable Partners by 206.1% in the 1st quarter. Triad Investment Management now owns 54,609 shares of the utilities provider’s stock valued at $1,745,000 after acquiring an additional 36,771 shares in the last quarter. Bank of Montreal Can raised its holdings in Brookfield Renewable Partners by 1.5% in the 1st quarter. Bank of Montreal Can now owns 4,422,596 shares of the utilities provider’s stock valued at $141,302,000 after acquiring an additional 66,603 shares in the last quarter. Finally, Pennsylvania Trust Co acquired a new position in Brookfield Renewable Partners in the 1st quarter valued at approximately $10,511,000. 53.40% of the stock is 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

See Also: Back-End Load

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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