Brookfield Renewable Partners (NYSE:BEP) Stock Price Expected to Rise, TD Analyst Says
by Renee Jackson · The Cerbat GemBrookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) had its target price lifted by equities research analysts at TD from $38.00 to $39.00 in a research note issued on Monday,BayStreet.CA reports. The firm currently has a “buy” rating on the utilities provider’s stock. TD’s price target would indicate a potential upside of 18.51% from the company’s current price.
Other research analysts also recently issued reports about the company. National Bank Financial lifted their target price on Brookfield Renewable Partners from $34.00 to $36.00 and gave the stock a “sector outperform” rating in a report on Monday. JPMorgan Chase & Co. lifted their target price on Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an “overweight” rating in a report on Thursday, April 16th. Wall Street Zen downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Saturday. Mizuho set a $31.00 target price on Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. Finally, Zacks Research raised Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $36.53.
Get Our Latest Research Report on Brookfield Renewable Partners
Brookfield Renewable Partners Price Performance
Shares of NYSE BEP traded down $0.44 during mid-day trading on Monday, hitting $32.91. 703,604 shares of the stock traded hands, compared to its average volume of 747,495. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. Brookfield Renewable Partners has a twelve month low of $22.17 and a twelve month high of $35.97. The company has a market cap of $9.98 billion, a PE ratio of -106.13 and a beta of 1.06. The firm has a 50 day simple moving average of $32.40 and a two-hundred day simple moving average of $30.10.
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last released its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) earnings per share for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.59%. The firm had revenue of $1.51 billion for the quarter, compared to analyst estimates of $1.50 billion. As a group, equities research analysts forecast that Brookfield Renewable Partners will post -1.18 EPS for the current fiscal year.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Aviso Financial Inc. lifted its stake in shares of Brookfield Renewable Partners by 9.6% in the 3rd quarter. Aviso Financial Inc. now owns 8,338 shares of the utilities provider’s stock valued at $215,000 after purchasing an additional 733 shares during the period. Envestnet Asset Management Inc. lifted its stake in shares of Brookfield Renewable Partners by 7.8% in the 3rd quarter. Envestnet Asset Management Inc. now owns 10,223 shares of the utilities provider’s stock valued at $264,000 after purchasing an additional 742 shares during the period. Allworth Financial LP lifted its stake in shares of Brookfield Renewable Partners by 9.5% in the 4th quarter. Allworth Financial LP now owns 8,645 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 750 shares during the period. Tacita Capital Inc lifted its stake in shares of Brookfield Renewable Partners by 0.7% in the 4th quarter. Tacita Capital Inc now owns 119,101 shares of the utilities provider’s stock valued at $3,220,000 after purchasing an additional 770 shares during the period. Finally, Kelleher Financial Advisors acquired a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $26,000. 63.16% of the stock is owned by institutional investors and hedge funds.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.
The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.