Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $30.00 at BMO Capital Markets

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price hoisted by investment analysts at BMO Capital Markets from $28.00 to $30.00 in a research report issued to clients and investors on Monday, BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 12.61% from the stock’s previous close.

Several other research analysts have also recently commented on the company. StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. National Bankshares upped their target price on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. JPMorgan Chase & Co. reiterated a “neutral” rating and issued a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Finally, Raymond James reduced their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research note on Thursday, April 25th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $30.75.

Brookfield Renewable Partners Stock Up 3.3 %

Shares of NYSE BEP traded up $0.86 during trading on Monday, reaching $26.64. 498,143 shares of the stock were exchanged, compared to its average volume of 523,314. The company has a market capitalization of $7.62 billion, a price-to-earnings ratio of -57.91 and a beta of 0.83. The business’s 50-day moving average price is $22.43 and its 200 day moving average price is $23.94. 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 has a twelve month low of $19.92 and a twelve month high of $32.76.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.02) by $0.03. The firm had revenue of $1.32 billion for the quarter, compared to analyst estimates 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 revenue was up 10.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.16) EPS. As a group, equities analysts forecast that Brookfield Renewable Partners will post -0.01 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds have recently made changes to their positions in BEP. Commonwealth Equity Services LLC lifted its stake in Brookfield Renewable Partners by 3.1% during the third quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider’s stock valued at $754,000 after purchasing an additional 1,047 shares during the last quarter. Stratos Wealth Partners LTD. bought a new position in shares of Brookfield Renewable Partners in the third quarter valued at $244,000. Mackenzie Financial Corp lifted its position in shares of Brookfield Renewable Partners by 12.1% during the 3rd quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock valued at $3,583,000 after acquiring an additional 19,083 shares during the last quarter. CIBC Asset Management Inc boosted its stake in shares of Brookfield Renewable Partners by 1.5% during the 3rd quarter. CIBC Asset Management Inc now owns 3,786,846 shares of the utilities provider’s stock worth $82,528,000 after acquiring an additional 56,651 shares in the last quarter. Finally, Principal Financial Group Inc. boosted its stake in shares of 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. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.