Scotiabank Lowers Brookfield Renewable Partners (NYSE:BEP) Price Target to $28.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price decreased by equities researchers at Scotiabank from $32.00 to $28.00 in a research report issued to clients and investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s price target indicates a potential upside of 27.87% from the company’s current price.

BEP has been the topic of a number of other reports. National Bankshares lowered their price target on shares of 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 set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. JPMorgan Chase & Co. decreased their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research note on Thursday, January 23rd. CIBC raised their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research note on Thursday, January 9th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Trading Up 5.8 %

NYSE BEP opened at $21.90 on Thursday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a market capitalization of $6.24 billion, a P/E ratio of -26.70 and a beta of 0.95. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The firm has a 50-day moving average price of $23.09 and a 200 day moving average price of $24.75.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the business posted $0.01 earnings per share. Equities research analysts expect that Brookfield Renewable Partners will post -1.2 EPS for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC grew its stake in Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $28,000. Allworth Financial LP purchased a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at $68,000. Waverton Investment Management Ltd acquired a new position in Brookfield Renewable Partners in the third quarter valued at $178,000. Finally, Barclays PLC lifted its position in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after buying an additional 2,036 shares during the period. 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.