BMO Capital Markets Boosts Brookfield Renewable Partners (NYSE:BEP) Price Target to $30.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price hoisted by investment analysts at BMO Capital Markets from $28.00 to $30.00 in a report issued on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective would indicate a potential upside of 13.85% from the company’s current price.

BEP has been the topic of several other reports. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Monday, March 4th. JPMorgan Chase & Co. reissued a “neutral” rating and issued a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. National Bankshares raised their target price on Brookfield Renewable Partners from $29.00 to $31.00 and gave the company an “outperform” rating in a research note on Tuesday, January 9th. Finally, Raymond James reduced 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 report on Thursday, April 25th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $30.75.

Brookfield Renewable Partners Price Performance

NYSE:BEP opened at $26.35 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The firm has a market cap of $7.54 billion, a PE ratio of -57.28 and a beta of 0.83. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $32.76. The company’s 50-day moving average price is $22.58 and its two-hundred day moving average price is $24.01.

Institutional Trading of Brookfield Renewable Partners

Institutional investors have recently bought and sold shares of the business. Commonwealth Equity Services LLC lifted its stake in shares of Brookfield Renewable Partners by 3.1% in the 3rd quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider’s stock valued at $754,000 after purchasing an additional 1,047 shares during the period. Stratos Wealth Partners LTD. bought a new stake in Brookfield Renewable Partners in the third quarter valued at about $244,000. Mackenzie Financial Corp lifted its stake in Brookfield Renewable Partners by 12.1% in 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. CIBC Asset Management Inc boosted its holdings in Brookfield Renewable Partners by 1.5% during the third quarter. CIBC Asset Management Inc now owns 3,786,846 shares of the utilities provider’s stock worth $82,528,000 after buying an additional 56,651 shares during the last quarter. Finally, Principal Financial Group Inc. grew its position in shares of Brookfield Renewable Partners by 0.9% during the 3rd quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock worth $141,099,000 after buying an additional 57,177 shares during the period. Institutional investors and hedge funds own 63.16% of the company’s stock.

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.