TD Securities Lowers Brookfield Renewable Partners (NYSE:BEP) Price Target to $48.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective cut by equities researchers at TD Securities from $60.00 to $48.00 in a report issued on Friday, BayStreet.CA reports. The firm presently has a “buy” rating on the utilities provider’s stock. TD Securities’ price target indicates a potential upside of 11.39% from the company’s current price.

Several other research firms have also commented on BEP. Credit Suisse Group upped their price objective on Brookfield Renewable Partners from $64.00 to $68.00 and gave the stock a “neutral” rating in a research report on Tuesday, July 21st. Mizuho began coverage on shares of Brookfield Renewable Partners in a research report on Thursday, May 14th. They set a “neutral” rating and a $49.00 price target on the stock. Royal Bank of Canada upped 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. TheStreet upgraded Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research report on Friday, June 19th. Finally, 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. Six investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Brookfield Renewable Partners presently has an average rating of “Buy” and a consensus target price of $53.43.

Shares of NYSE:BEP opened at $43.09 on Friday. Brookfield Renewable Partners has a twelve month low of $30.09 and a twelve month high of $57.69. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.63. The company has a market cap of $7.72 billion, a PE ratio of -159.59 and a beta of 0.65. The company’s 50 day moving average is $50.24 and its 200 day moving average is $48.05.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $0.06 EPS for the quarter, missing the consensus estimate of $0.09 by ($0.03). The business had revenue of $792.00 million during the quarter. Brookfield Renewable Partners had a net margin of 4.68% and a return on equity of 0.85%.

Hedge funds and other institutional investors have recently bought and sold shares of the business. CIBC Asset Management Inc raised its stake in shares of Brookfield Renewable Partners by 12.3% in the 2nd quarter. CIBC Asset Management Inc now owns 3,138,145 shares of the utilities provider’s stock valued at $149,782,000 after acquiring an additional 342,920 shares during the period. The Manufacturers Life Insurance Company increased its holdings in Brookfield Renewable Partners by 1,223.3% during the 1st quarter. The Manufacturers Life Insurance Company now owns 1,243,318 shares of the utilities provider’s stock worth $52,829,000 after purchasing an additional 1,149,362 shares during the period. Kayne Anderson Capital Advisors LP grew its position in shares of Brookfield Renewable Partners by 35.9% during the first quarter. Kayne Anderson Capital Advisors LP now owns 1,205,845 shares of the utilities provider’s stock worth $51,229,000 after buying an additional 318,500 shares in the last quarter. Eventide Asset Management LLC increased its stake in shares of Brookfield Renewable Partners by 0.4% during the first quarter. Eventide Asset Management LLC now owns 916,200 shares of the utilities provider’s stock worth $38,929,000 after buying an additional 4,000 shares during the period. Finally, Silver Lake Advisory LLC raised its holdings in Brookfield Renewable Partners by 4,314.0% in the first quarter. Silver Lake Advisory LLC now owns 885,000 shares of the utilities provider’s stock valued at $883,000 after acquiring an additional 864,950 shares in the last quarter. 57.68% 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, 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.

Featured Story: What is the Difference Between Common Shares and Convertible Shares?

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

Receive News & Ratings for Brookfield Renewable Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable Partners and related companies with MarketBeat.com's FREE daily email newsletter.