Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $32.00 at Raymond James

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price dropped by analysts at Raymond James from $33.00 to $32.00 in a research note issued to investors on Thursday, BayStreet.CA reports. The brokerage presently has a “strong-buy” rating on the utilities provider’s stock. Raymond James’ target price points to a potential upside of 49.25% from the company’s previous close.

A number of other brokerages have also recently issued reports on BEP. JPMorgan Chase & Co. restated a “neutral” rating and issued a $28.00 target price (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. National Bankshares upped their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a report on Tuesday, January 9th. Finally, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Monday, March 4th. 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’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $30.50.

Brookfield Renewable Partners Price Performance

BEP stock traded down $0.22 during trading hours on Thursday, hitting $21.44. 569,342 shares of the stock traded hands, compared to its average volume of 486,283. The stock has a 50-day simple moving average of $22.57 and a 200 day simple moving average of $23.86. The company has a market cap of $6.13 billion, a P/E ratio of -67.50 and a beta of 0.80. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $32.76. The company has a current ratio of 0.57, a quick 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 data 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 net margin of 12.23% and a return on equity of 2.23%. The company had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter in the previous year, the company posted ($0.16) EPS. The business’s revenue was up 10.6% compared to the same quarter last year. Equities analysts forecast that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BEP. Baystate Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at about $26,000. Scarborough Advisors LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at about $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Brookfield Renewable Partners during the 1st quarter valued at about $31,000. Northwest Financial Advisors acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at about $65,000. Finally, Principal Securities Inc. acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at about $77,000. 63.16% of the stock is owned by institutional investors and hedge funds.

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.