Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lifted by analysts at Scotiabank from $30.00 to $31.00 in a report released on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s price target would suggest a potential upside of 16.37% from the company’s current price.

A number of other equities research analysts also recently issued reports on BEP. National Bankshares boosted their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Raymond James cut their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. reissued a “neutral” rating and set a $28.00 price target (down previously from $36.00) on shares of Brookfield Renewable Partners in a research report on Monday, February 12th. Finally, BMO Capital Markets raised their price objective on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a report on Monday. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $30.75.

Brookfield Renewable Partners Trading Up 3.3 %

Shares of BEP stock traded up $0.86 during mid-day trading on Monday, hitting $26.64. 498,143 shares of the company’s stock were exchanged, compared to its average volume of 523,314. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -57.91 and a beta of 0.83. The stock has a 50-day simple moving average of $22.43 and a two-hundred day simple moving average of $23.94. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $32.76. 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 issued its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. Brookfield Renewable Partners had a return on equity of 1.31% and a net margin of 7.10%. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates of $1.08 billion. During the same period last year, the company earned ($0.16) EPS. The firm’s quarterly revenue was up 10.6% on a year-over-year basis. Equities analysts expect that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently bought and sold shares of BEP. Baystate Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners in the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in Brookfield Renewable Partners during the fourth quarter worth $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in Brookfield Renewable Partners in the first quarter worth $31,000. Northwest Financial Advisors bought a new stake in Brookfield Renewable Partners during the fourth quarter valued at $65,000. Finally, Principal Securities Inc. acquired a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth $77,000. 63.16% of the stock is 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.