Mizuho Boosts Brookfield Renewable Partners (NYSE:BEP) Price Target to $27.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target hoisted by Mizuho from $26.00 to $27.00 in a note issued to investors on Friday,Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. Mizuho’s price target would suggest a potential upside of 4.19% from the company’s current price.

BEP has been the topic of a number of other research reports. CIBC raised their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an “outperformer” rating in a report on Monday, July 21st. Raymond James Financial lowered Brookfield Renewable Partners from a “strong-buy” rating to a “moderate buy” rating in a report on Thursday, July 17th. JPMorgan Chase & Co. upped their price target on Brookfield Renewable Partners from $30.00 to $32.00 and gave the stock an “overweight” rating in a research note on Friday, September 19th. National Bank Financial raised shares of Brookfield Renewable Partners to a “strong-buy” rating in a research note on Sunday, June 8th. Finally, National Bankshares lifted their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a report on Tuesday, August 5th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $30.10.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $25.92 on Friday. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. The firm has a market cap of $7.36 billion, a PE ratio of -27.28 and a beta of 1.04. The company’s 50 day simple moving average is $25.61 and its 200-day simple moving average is $24.43. Brookfield Renewable Partners has a 12-month low of $19.29 and a 12-month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Friday, August 1st. The utilities provider reported ($0.22) EPS for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. The business had revenue of $1.69 billion during the quarter, compared to analysts’ expectations of $1.64 billion. As a group, equities analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Liontrust Investment Partners LLP acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at $24,180,000. SCS Capital Management LLC acquired a new position in shares of Brookfield Renewable Partners in the first quarter worth $15,939,000. TD Asset Management Inc increased its stake in shares of Brookfield Renewable Partners by 30.1% during the 1st quarter. TD Asset Management Inc now owns 2,975,447 shares of the utilities provider’s stock worth $65,866,000 after purchasing an additional 689,196 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. boosted its position in Brookfield Renewable Partners by 177.5% during the second quarter. Connor Clark & Lunn Investment Management Ltd. now owns 984,840 shares of the utilities provider’s stock worth $25,126,000 after purchasing an additional 629,940 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $13,899,000. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.