Brookfield Renewable Partners (NYSE:BEP) PT Raised to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target hoisted by equities researchers at JPMorgan Chase & Co. from $30.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 10.83% from the company’s previous close.

Other equities analysts have also recently issued reports about the company. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a report on Monday, August 5th. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Scotiabank increased their target price on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a report on Wednesday, June 12th. TD Securities increased their target price on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a report on Wednesday, May 29th. Finally, National Bankshares increased their target price on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a report on Friday, July 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $31.90.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $27.97 on Wednesday. The company has a market capitalization of $7.97 billion, a PE ratio of -60.72 and a beta of 0.93. The company has a 50 day simple moving average of $24.83 and a two-hundred day simple moving average of $24.75. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The business had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. Brookfield Renewable Partners’s quarterly revenue was up 23.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.10) earnings per share. Research analysts anticipate that Brookfield Renewable Partners will post -0.57 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Large investors have recently bought and sold shares of the stock. Scarborough Advisors LLC bought a new position in Brookfield Renewable Partners during the 4th quarter valued at $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at $31,000. Evermay Wealth Management LLC purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at $49,000. Clear Point Advisors Inc. purchased a new stake in shares of Brookfield Renewable Partners during the 1st quarter valued at $49,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Brookfield Renewable Partners by 17.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 900 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

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.