Brookfield Renewable Partners (NYSE:BEP) Given New $30.00 Price Target at National Bankshares

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price raised by investment analysts at National Bankshares from $28.00 to $30.00 in a report released on Monday, BayStreet.CA reports. The firm presently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ target price indicates a potential upside of 12.61% from the stock’s previous close.

Other equities analysts have also recently issued research reports about the company. Scotiabank boosted their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Monday. Raymond James dropped their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. BMO Capital Markets lifted their price target on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a report on Monday. JPMorgan Chase & Co. reissued 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. Finally, StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Brookfield Renewable Partners Price Performance

BEP stock traded up $0.86 during mid-day trading on Monday, hitting $26.64. The stock had a trading volume of 498,143 shares, compared to its average volume of 523,314. The firm has a fifty day simple moving average of $22.43 and a 200 day simple moving average of $23.94. The firm has a market capitalization of $7.62 billion, a P/E ratio of -57.87 and a beta of 0.83. 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 has a 52 week low of $19.92 and a 52 week high of $32.76.

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, beating analysts’ consensus estimates of ($0.02) by $0.03. The business had revenue of $1.32 billion for the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The firm’s quarterly revenue was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) earnings per share. As a group, research analysts forecast that Brookfield Renewable Partners will post -0.01 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

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

About Brookfield Renewable Partners

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.