Brookfield Renewable Partners (NYSE:BEP) Given New $32.00 Price Target at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price decreased by research analysts at Raymond James from $33.00 to $32.00 in a report issued on Thursday, BayStreet.CA reports. The firm currently has a “strong-buy” rating on the utilities provider’s stock. Raymond James’ price target points to a potential upside of 49.95% from the stock’s current price.

Other research analysts also recently issued research reports about the company. JPMorgan Chase & Co. restated a “neutral” rating and issued a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Finally, National Bankshares increased their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $30.50.

Brookfield Renewable Partners Trading Up 0.2 %

NYSE BEP opened at $21.34 on Thursday. The company has a market cap of $6.10 billion, a price-to-earnings ratio of -66.69 and a beta of 0.80. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76. The business has a 50 day moving average price of $22.46 and a 200-day moving average price of $23.84. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The business had revenue of $1.32 billion during the quarter, compared to the consensus estimate of $1.08 billion. During the same quarter in the prior year, the company posted ($0.16) earnings per share. Brookfield Renewable Partners’s revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts expect that Brookfield Renewable Partners will post -0.01 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds have recently made changes to their positions in BEP. Baystate Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in shares of Brookfield Renewable Partners in the fourth quarter worth $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new position in shares of Brookfield Renewable Partners in the first quarter worth $31,000. Northwest Financial Advisors purchased a new position in shares of Brookfield Renewable Partners in the fourth quarter worth $65,000. Finally, Principal Securities Inc. purchased a new stake in Brookfield Renewable Partners in the fourth quarter worth about $77,000. 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.