Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $34.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target increased by investment analysts at National Bankshares from $33.00 to $34.00 in a report released on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ price objective would suggest a potential upside of 23.91% from the stock’s current price.

Other research analysts have also issued reports about the company. UBS Group reissued a “buy” rating and issued a $39.00 price target (up from $38.00) on shares of Brookfield Renewable Partners in a research report on Friday, December 5th. Desjardins raised shares of Brookfield Renewable Partners to a “hold” rating in a report on Wednesday, November 26th. Mizuho set a $33.00 price objective on shares of Brookfield Renewable Partners in a report on Friday, November 7th. JPMorgan Chase & Co. boosted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “overweight” rating in a report on Thursday, October 16th. Finally, Royal Bank Of Canada raised their target price on Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research note on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $34.86.

Brookfield Renewable Partners Stock Down 2.1%

NYSE BEP traded down $0.58 on Wednesday, reaching $27.44. 339,463 shares of the stock traded hands, compared to its average volume of 433,678. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.58 and a current ratio of 0.58. The company has a fifty day moving average price of $28.51 and a 200-day moving average price of $27.04. The company has a market cap of $8.39 billion, a price-to-earnings ratio of -31.90 and a beta of 1.12. Brookfield Renewable Partners has a 12 month low of $19.29 and a 12 month high of $32.72.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.22. Brookfield Renewable Partners had a net margin of 3.52% and a return on equity of 0.66%. The company had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.61 billion. As a group, research analysts forecast that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Large investors have recently added to or reduced their stakes in the stock. Kelleher Financial Advisors purchased a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at approximately $26,000. Hilltop National Bank purchased a new position in Brookfield Renewable Partners during the 2nd quarter valued at about $34,000. Russell Investments Group Ltd. purchased a new position in Brookfield Renewable Partners during the 2nd quarter valued at about $34,000. Root Financial Partners LLC acquired a new position in Brookfield Renewable Partners in the 3rd quarter valued at about $46,000. Finally, Activest Wealth Management purchased a new stake in Brookfield Renewable Partners during the second quarter worth about $50,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.