Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) reached a new 52-week high during mid-day trading on Monday following a better than expected earnings announcement. The company traded as high as $34.61 and last traded at $34.61, with a volume of 75,409 shares trading hands. The stock had previously closed at $33.91.

The utilities provider reported $0.13 EPS for the quarter, topping the Zacks’ consensus estimate of $0.08 by $0.05. The business had revenue of $683 million during the quarter, compared to the consensus estimate of $721.75 million. Brookfield Renewable Partners L.P. had a net margin of 2.82% and a return on equity of 0.75%.

A number of equities analysts have commented on BEP shares. BMO Capital Markets downgraded shares of Brookfield Renewable Partners L.P. from an “outperform” rating to a “market perform” rating and set a $33.00 target price for the company. in a report on Wednesday, May 24th. They noted that the move was a valuation call. GMP Securities reiterated a “buy” rating and issued a $32.00 target price on shares of Brookfield Renewable Partners L.P. in a report on Friday, May 5th. ValuEngine upgraded shares of Brookfield Renewable Partners L.P. from a “sell” rating to a “hold” rating in a report on Thursday, June 8th. BidaskClub upgraded shares of Brookfield Renewable Partners L.P. from a “buy” rating to a “strong-buy” rating in a report on Tuesday, June 20th. Finally, TD Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Brookfield Renewable Partners L.P. in a report on Thursday, May 4th. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Brookfield Renewable Partners L.P. currently has an average rating of “Hold” and an average target price of $36.57.

Several large investors have recently modified their holdings of the company. Global X Management Co. LLC raised its stake in shares of Brookfield Renewable Partners L.P. by 10.0% in the second quarter. Global X Management Co. LLC now owns 316,513 shares of the utilities provider’s stock worth $10,109,000 after buying an additional 28,773 shares during the last quarter. American Assets Capital Advisers acquired a new stake in shares of Brookfield Renewable Partners L.P. during the second quarter worth $10,520,000. Bowen Hanes & Co. Inc. raised its stake in shares of Brookfield Renewable Partners L.P. by 0.4% in the second quarter. Bowen Hanes & Co. Inc. now owns 268,495 shares of the utilities provider’s stock worth $8,576,000 after buying an additional 1,000 shares during the last quarter. Chicago Partners Investment Group LLC acquired a new stake in shares of Brookfield Renewable Partners L.P. during the second quarter worth $259,000. Finally, First Manhattan Co. raised its stake in shares of Brookfield Renewable Partners L.P. by 3.0% in the second quarter. First Manhattan Co. now owns 564,697 shares of the utilities provider’s stock worth $17,979,000 after buying an additional 16,522 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

The firm has a 50 day moving average price of $32.88 and a 200 day moving average price of $30.87. The firm’s market cap is $10.27 billion.

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Brookfield Renewable Partners L.P. Company Profile

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

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