Brookfield Renewable Partners (NYSE:BEP) Receives Neutral Rating from JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP)‘s stock had its “neutral” rating restated by analysts at JPMorgan Chase & Co. in a research report issued to clients and investors on Monday, Benzinga reports. They currently have a $28.00 price target on the utilities provider’s stock, down from their previous price target of $36.00. JPMorgan Chase & Co.‘s target price suggests a potential upside of 17.06% from the stock’s previous close.

A number of other equities analysts have also weighed in on BEP. Desjardins dropped their target price on shares of Brookfield Renewable Partners from $43.00 to $39.00 and set a “hold” rating for the company in a research report on Wednesday, October 25th. TD Securities decreased their price target on shares of Brookfield Renewable Partners from $38.00 to $32.00 and set an “action list buy” rating on the stock in a research note on Wednesday, October 18th. UBS Group downgraded shares of Brookfield Renewable Partners from a “buy” rating to a “neutral” rating and decreased their price target for the company from $34.00 to $25.00 in a research note on Friday, November 17th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, February 5th. Finally, Royal Bank of Canada reaffirmed an “outperform” rating and set a $29.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, November 13th. One analyst has rated the stock with a sell rating, four have given a hold rating, five have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.91.

View Our Latest Research Report on BEP

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $23.92 on Monday. The company has a debt-to-equity ratio of 0.82, a quick ratio of 0.76 and a current ratio of 0.16. The firm has a fifty day moving average price of $25.94 and a 200 day moving average price of $24.90. Brookfield Renewable Partners has a fifty-two week low of $19.97 and a fifty-two week high of $32.76. The firm has a market cap of $6.87 billion, a price-to-earnings ratio of -74.75 and a beta of 0.85.

Brookfield Renewable Partners (NYSE:BEPGet Free Report) (TSE:BEP) last issued its earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 12.23% and a return on equity of 2.23%. The firm had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Brookfield Renewable Partners’s revenue for the quarter was up 10.6% on a year-over-year basis. As a group, sell-side analysts expect that Brookfield Renewable Partners will post 0.2 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Modera Wealth Management LLC purchased a new position in Brookfield Renewable Partners in the 2nd quarter worth about $274,000. Montrusco Bolton Investments Inc. grew its holdings in Brookfield Renewable Partners by 17.4% during the 3rd quarter. Montrusco Bolton Investments Inc. now owns 1,984,628 shares of the utilities provider’s stock worth $43,318,000 after acquiring an additional 294,302 shares in the last quarter. Nicola Wealth Management LTD. grew its holdings in Brookfield Renewable Partners by 6.3% during the 2nd quarter. Nicola Wealth Management LTD. now owns 170,000 shares of the utilities provider’s stock worth $5,015,000 after acquiring an additional 10,000 shares in the last quarter. Coronation Fund Managers Ltd. grew its holdings in Brookfield Renewable Partners by 5.6% during the 3rd quarter. Coronation Fund Managers Ltd. now owns 189,015 shares of the utilities provider’s stock worth $4,109,000 after acquiring an additional 10,066 shares in the last quarter. Finally, Principal Financial Group Inc. grew its holdings in Brookfield Renewable Partners by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock worth $141,099,000 after acquiring an additional 57,177 shares in the last quarter. Hedge funds and other institutional investors own 60.36% of the company’s stock.

Brookfield Renewable Partners Company Profile

(Get Free Report)

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, and Asia. The company generates electricity through hydroelectric, wind, solar, distributed generation, pumped storage, cogeneration, and biomass sources.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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