Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $39.00 at National Bank Financial

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target raised by investment analysts at National Bank Financial from $36.00 to $39.00 in a research report issued on Thursday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. National Bank Financial’s price target points to a potential upside of 9.30% from the stock’s previous close.

BEP has been the subject of a number of other reports. TD Securities restated a “buy” rating and issued a $39.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Zacks Research cut Brookfield Renewable Partners from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 5th. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $40.00 target price (up from $37.00) on shares of Brookfield Renewable Partners in a research note on Monday, April 20th. Wall Street Zen lowered Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Finally, TD raised their price target on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Monday, May 4th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $37.93.

Brookfield Renewable Partners Price Performance

NYSE BEP traded up $0.41 during trading hours on Thursday, reaching $35.68. The company’s stock had a trading volume of 285,168 shares, compared to its average volume of 787,821. The firm has a market capitalization of $10.82 billion, a price-to-earnings ratio of -115.11 and a beta of 1.09. Brookfield Renewable Partners has a 1-year low of $24.13 and a 1-year high of $38.12. The company has a debt-to-equity ratio of 0.82, a current ratio of 0.75 and a quick ratio of 0.75. The company’s 50-day moving average is $34.68 and its two-hundred day moving average is $31.22.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.57% and a net margin of 8.28%.The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.50 billion. On average, equities analysts predict that Brookfield Renewable Partners will post -1.53 EPS for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently bought and sold shares of the stock. Groupe la Francaise increased its position in shares of Brookfield Renewable Partners by 194.5% during the first quarter. Groupe la Francaise now owns 159,894 shares of the utilities provider’s stock worth $5,214,000 after acquiring an additional 105,599 shares during the last quarter. Bank of America Corp DE boosted its position in shares of Brookfield Renewable Partners by 413.2% during the first quarter. Bank of America Corp DE now owns 973,260 shares of the utilities provider’s stock worth $31,767,000 after buying an additional 783,620 shares during the period. KCM Investment Advisors LLC acquired a new stake in Brookfield Renewable Partners in the first quarter worth approximately $217,000. Dempze Nancy E acquired a new stake in Brookfield Renewable Partners in the first quarter worth approximately $237,000. Finally, Cannell & Spears LLC bought a new position in shares of Brookfield Renewable Partners in the first quarter valued at $280,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.