Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $30.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price increased by JPMorgan Chase & Co. from $28.00 to $30.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target suggests a potential upside of 17.32% from the stock’s previous close.

BEP has been the topic of several other research reports. TD Securities upped their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. StockNews.com initiated coverage on Brookfield Renewable Partners in a research note on Friday, June 21st. They issued a “sell” rating on the stock. Raymond James reduced their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 25th. National Bankshares increased their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Tuesday, May 28th. Finally, Royal Bank of Canada upped their price target on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Monday, May 6th. One investment 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 stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.33.

Brookfield Renewable Partners Stock Performance

Shares of NYSE:BEP traded down $0.06 during mid-day trading on Tuesday, reaching $25.57. The company had a trading volume of 59,939 shares, compared to its average volume of 492,759. The company has a current ratio of 0.56, a quick ratio of 0.56 and a debt-to-equity ratio of 0.88. The firm has a market cap of $7.29 billion, a price-to-earnings ratio of -55.59 and a beta of 0.92. The company’s 50-day moving average price is $26.56 and its 200-day moving average price is $24.73. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $30.30.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, May 3rd. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.01 by ($0.24). The company had revenue of $875.00 million for the quarter, compared to analysts’ expectations of $828.39 million. Brookfield Renewable Partners had a return on equity of 1.30% and a net margin of 7.10%. As a group, equities research analysts anticipate that Brookfield Renewable Partners will post -0.49 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Hedge funds and other institutional investors have recently made changes to their positions in the business. FIL Ltd lifted its stake in shares of Brookfield Renewable Partners by 37.1% in the fourth quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after buying an additional 3,474,522 shares in the last quarter. 1832 Asset Management L.P. increased its position in Brookfield Renewable Partners by 1.4% during the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after purchasing an additional 173,402 shares during the last quarter. Principal Financial Group Inc. increased its position in Brookfield Renewable Partners by 4.4% during the first quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock worth $167,447,000 after purchasing an additional 302,274 shares during the last quarter. CIBC Asset Management Inc increased its position in Brookfield Renewable Partners by 63.2% during the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock worth $162,917,000 after purchasing an additional 2,394,853 shares during the last quarter. Finally, CCLA Investment Management increased its position in Brookfield Renewable Partners by 1.4% during the first quarter. CCLA Investment Management now owns 2,530,685 shares of the utilities provider’s stock worth $58,733,000 after purchasing an additional 34,915 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.