National Bankshares Increases Brookfield Renewable Partners (NYSE:BEP) Price Target to $30.00

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

Other equities research analysts have also recently issued research reports about the stock. Royal Bank of Canada increased 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 report on Monday. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Monday, March 4th. BMO Capital Markets boosted their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the stock an “outperform” rating in a research note on Monday. Raymond James cut their price target on shares of 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. Finally, JPMorgan Chase & Co. restated a “neutral” rating and issued a $28.00 price objective (down from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average target price of $30.75.

Brookfield Renewable Partners Stock Up 3.3 %

Shares of NYSE BEP traded up $0.86 during mid-day trading on Monday, reaching $26.64. 498,143 shares of the company were exchanged, compared to its average volume of 523,314. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $32.76. The firm has a 50-day moving average of $22.43 and a 200 day moving average of $23.94. The stock has a market cap of $7.62 billion, a price-to-earnings ratio of -57.87 and a beta of 0.83. 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 (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, February 2nd. The utilities provider reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The business had revenue of $1.32 billion during the quarter, compared to analyst estimates of $1.08 billion. During the same period in the prior year, the firm posted ($0.16) earnings per share. The company’s quarterly revenue was up 10.6% on a year-over-year basis. On average, research analysts expect that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Institutional Trading of Brookfield Renewable Partners

Institutional investors have recently bought and sold shares of the business. Baystate Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the 4th quarter valued at approximately $26,000. Scarborough Advisors LLC purchased a new position in Brookfield Renewable Partners during the fourth quarter valued at $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new stake in shares of Brookfield Renewable Partners in the first quarter valued at about $31,000. Northwest Financial Advisors acquired a new stake in shares of Brookfield Renewable Partners in the fourth quarter valued at about $65,000. Finally, Principal Securities Inc. purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $77,000. 63.16% of the stock is 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.