Brookfield Renewable Partners (NYSE:BEP) Stock Price Expected to Rise, National Bankshares Analyst Says

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lifted by equities researchers at National Bankshares from $32.00 to $34.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ price objective would indicate a potential upside of 12.69% from the stock’s previous close.

Several other equities analysts have also weighed in on BEP. Weiss Ratings reissued a “sell (d+)” rating on shares of Brookfield Renewable Partners in a report on Wednesday, October 8th. Desjardins increased their price target on Brookfield Renewable Partners from $42.00 to $46.00 and gave the stock a “hold” rating in a research note on Wednesday. Mizuho increased their price target on Brookfield Renewable Partners from $26.00 to $27.00 and gave the stock a “neutral” rating in a research note on Friday, September 26th. Scotiabank increased their target price on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a “sector outperform” rating in a research report on Friday, July 18th. Finally, BMO Capital Markets set a $36.00 target price on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $33.42.

Brookfield Renewable Partners Stock Down 1.8%

Brookfield Renewable Partners stock opened at $30.17 on Wednesday. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.72. The firm has a 50 day moving average price of $26.65 and a 200-day moving average price of $25.40. The company has a market capitalization of $8.57 billion, a P/E ratio of -31.76 and a beta of 1.13. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share 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 firm had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. As a group, equities analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Cambridge Investment Research Advisors Inc. boosted its position in shares of Brookfield Renewable Partners by 16.8% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider’s stock valued at $574,000 after acquiring an additional 3,722 shares during the period. Golden State Wealth Management LLC boosted its position in shares of Brookfield Renewable Partners by 103.6% in the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 579 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Brookfield Renewable Partners by 1.7% in the first quarter. DAVENPORT & Co LLC now owns 370,545 shares of the utilities provider’s stock valued at $8,218,000 after acquiring an additional 6,300 shares during the period. Rossby Financial LCC bought a new position in shares of Brookfield Renewable Partners in the first quarter valued at approximately $41,000. Finally, Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 6.3% in the 1st quarter. Principal Financial Group Inc. now owns 8,344,041 shares of the utilities provider’s stock valued at $184,904,000 after purchasing an additional 492,199 shares during the period. Institutional investors 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.