National Bank Financial Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $47.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective reduced by National Bank Financial from $59.00 to $47.00 in a report issued on Thursday, BayStreet.CA reports. National Bank Financial currently has a sector perform rating on the utilities provider’s stock.

A number of other analysts have also recently issued reports on the stock. TheStreet upgraded shares of Brookfield Renewable Partners from a d+ rating to a c rating in a research note on Friday, June 19th. Royal Bank of Canada raised their price objective on shares of Brookfield Renewable Partners from $50.00 to $54.00 and gave the stock a sector perform rating in a research report on Wednesday, July 8th. Barclays decreased their target price on Brookfield Renewable Partners from $56.00 to $51.00 and set an overweight rating on the stock in a research report on Thursday, April 2nd. Credit Suisse Group increased their target price on Brookfield Renewable Partners from $64.00 to $68.00 and gave the stock a neutral rating in a research note on Tuesday, July 21st. Finally, Raymond James set a $52.00 price target on Brookfield Renewable Partners and gave the company an outperform rating in a research note on Thursday, July 9th. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $53.43.

NYSE:BEP opened at $43.09 on Thursday. Brookfield Renewable Partners has a 12-month low of $30.09 and a 12-month high of $57.69. The firm has a market capitalization of $7.72 billion, a price-to-earnings ratio of -159.59 and a beta of 0.65. The stock’s 50 day moving average price is $50.24 and its two-hundred day moving average price is $48.05. The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.63.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Wednesday, May 6th. The utilities provider reported $0.06 earnings per share for the quarter, missing analysts’ consensus estimates of $0.09 by ($0.03). Brookfield Renewable Partners had a return on equity of 0.85% and a net margin of 4.68%. The business had revenue of $792.00 million for the quarter.

A number of hedge funds have recently bought and sold shares of BEP. Tower Research Capital LLC TRC bought a new stake in Brookfield Renewable Partners during the first quarter worth about $34,000. 1832 Asset Management L.P. boosted its position in shares of Brookfield Renewable Partners by 29.7% during the 1st quarter. 1832 Asset Management L.P. now owns 938 shares of the utilities provider’s stock worth $40,000 after acquiring an additional 215 shares in the last quarter. Sunbelt Securities Inc. bought a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $11,161,000. Total Clarity Wealth Management Inc. bought a new position in Brookfield Renewable Partners in the fourth quarter valued at approximately $47,000. Finally, Horan Securities Inc. acquired a new position in Brookfield Renewable Partners during the first quarter valued at approximately $47,000. 57.68% 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.

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