Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $45.00 at Royal Bank of Canada

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Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price hoisted by Royal Bank of Canada from $41.00 to $45.00 in a research note issued to investors on Tuesday morning, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the utilities provider’s stock.

Several other research firms have also commented on BEP. Barclays raised their target price on shares of Brookfield Renewable Partners from $41.00 to $45.00 and gave the company an overweight rating in a report on Monday, September 30th. National Bank Financial raised their target price on shares of Brookfield Renewable Partners from $37.00 to $39.00 and gave the company a sector perform rating in a report on Monday, September 30th. Raymond James reissued a market perform rating and issued a $40.00 target price on shares of Brookfield Renewable Partners in a report on Tuesday. TD Securities lowered shares of Brookfield Renewable Partners from a buy rating to a hold rating and raised their target price for the company from $43.00 to $45.00 in a report on Tuesday. Finally, ValuEngine lowered shares of Brookfield Renewable Partners from a buy rating to a hold rating in a report on Wednesday, October 2nd. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $42.11.

BEP stock traded up $0.39 during mid-day trading on Tuesday, hitting $44.82. The stock had a trading volume of 230,431 shares, compared to its average volume of 211,106. The company has a current ratio of 1.22, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. Brookfield Renewable Partners has a 52 week low of $24.51 and a 52 week high of $44.95. The firm has a market capitalization of $7.94 billion, a P/E ratio of 344.77 and a beta of 0.48. The firm has a fifty day simple moving average of $42.01 and a 200 day simple moving average of $36.69.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Monday, November 11th. The utilities provider reported ($0.17) EPS for the quarter, missing the consensus estimate of $0.01 by ($0.18). Brookfield Renewable Partners had a net margin of 9.26% and a return on equity of 1.72%. The firm had revenue of $642.00 million during the quarter.

Several institutional investors have recently made changes to their positions in BEP. Usca Ria LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $30,000. Coastal Investment Advisors Inc. bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $32,000. Oppenheimer Asset Management Inc. grew its holdings in shares of Brookfield Renewable Partners by 56.5% during the 2nd quarter. Oppenheimer Asset Management Inc. now owns 1,097 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 396 shares during the last quarter. Lenox Wealth Advisors LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $43,000. Finally, Gradient Investments LLC bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at approximately $57,000. 54.47% of the stock is currently owned by 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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