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

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

A number of other equities research analysts have also weighed in on the company. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. National Bankshares boosted their price objective on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. Finally, JPMorgan Chase & Co. reaffirmed 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and a consensus target price of $30.50.

Brookfield Renewable Partners Stock Down 1.0 %

BEP stock traded down $0.22 during mid-day trading on Thursday, reaching $21.44. The company had a trading volume of 569,342 shares, compared to its average volume of 486,283. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of -67.50 and a beta of 0.80. The stock has a 50 day simple moving average of $22.57 and a two-hundred day simple moving average of $23.86. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.02) by $0.03. The business had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.08 billion. Brookfield Renewable Partners had a return on equity of 2.23% and a net margin of 12.23%. The firm’s revenue for the quarter was up 10.6% compared to the same quarter last year. During the same period last year, the firm posted ($0.16) EPS. As a group, equities analysts predict that Brookfield Renewable Partners will post -0.01 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently modified their holdings of BEP. Coronation Fund Managers Ltd. increased its holdings in Brookfield Renewable Partners by 5.6% during the third quarter. Coronation Fund Managers Ltd. now owns 189,015 shares of the utilities provider’s stock valued at $4,109,000 after buying an additional 10,066 shares during the period. Evanson Asset Management LLC purchased a new position in Brookfield Renewable Partners during the third quarter valued at approximately $321,000. Commonwealth Equity Services LLC increased its holdings 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 buying an additional 1,047 shares during the period. Stratos Wealth Partners LTD. purchased a new position in Brookfield Renewable Partners during the third quarter valued at approximately $244,000. Finally, Mackenzie Financial Corp increased its holdings in Brookfield Renewable Partners by 12.1% during the third quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock valued at $3,583,000 after buying an additional 19,083 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.