Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $35.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price hoisted by Royal Bank Of Canada from $31.00 to $35.00 in a report released on Thursday morning,Benzinga reports. The brokerage currently has an outperform rating on the utilities provider’s stock.

A number of other research analysts also recently weighed in on BEP. Desjardins increased their price target on Brookfield Renewable Partners from $42.00 to $46.00 and gave the company 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 company a “neutral” rating in a research note on Friday, September 26th. Scotiabank increased their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a “sector outperform” rating in a research note on Friday, July 18th. UBS Group reissued a “buy” rating and issued a $38.00 price target (up previously from $29.00) on shares of Brookfield Renewable Partners in a research note on Thursday. Finally, CIBC reissued an “outperform” rating and issued a $33.00 price target on shares of Brookfield Renewable Partners in a research note on Tuesday, October 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus target price of $33.42.

Brookfield Renewable Partners Stock Up 1.2%

NYSE:BEP opened at $30.53 on Thursday. The stock’s fifty day moving average price is $26.75 and its two-hundred day moving average price is $25.50. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $32.72. The company has a debt-to-equity ratio of 0.97, a quick ratio of 0.44 and a current ratio of 0.44. The company has a market cap of $8.67 billion, a price-to-earnings ratio of -32.14 and a beta of 1.13.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 1st. The utilities provider reported ($0.22) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. On average, analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

Large investors have recently made changes to their positions in the company. Cambridge Investment Research Advisors Inc. increased its position in shares of Brookfield Renewable Partners by 16.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider’s stock valued at $574,000 after buying an additional 3,722 shares in the last quarter. Royal Bank of Canada increased its position in shares of Brookfield Renewable Partners by 2.3% in the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider’s stock valued at $373,164,000 after buying an additional 374,087 shares in the last quarter. Raymond James Financial Inc. increased its position in shares of Brookfield Renewable Partners by 18.1% in the 1st quarter. Raymond James Financial Inc. now owns 135,895 shares of the utilities provider’s stock valued at $3,011,000 after buying an additional 20,799 shares in the last quarter. Groupe la Francaise increased its position in shares of Brookfield Renewable Partners by 20.9% in the 1st quarter. Groupe la Francaise now owns 162,557 shares of the utilities provider’s stock valued at $3,967,000 after buying an additional 28,058 shares in the last quarter. Finally, Virtu Financial LLC bought a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at $414,000. 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.