Brookfield Renewable Partners L.P. (NYSE:BEP) Receives $33.42 Consensus PT from Brokerages

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have been assigned an average rating of “Moderate Buy” from the fifteen analysts that are currently covering the firm, MarketBeat.com reports. One analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, ten have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $33.5385.

BEP has been the topic of several recent analyst reports. Weiss Ratings reiterated a “sell (d+)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, October 8th. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Mizuho lifted their price objective on shares of Brookfield Renewable Partners from $26.00 to $27.00 and gave the company a “neutral” rating in a research report on Friday, September 26th. Scotiabank lifted their price objective on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the company a “sector outperform” rating in a research report on Friday, July 18th. Finally, BMO Capital Markets set a $36.00 price objective on shares of Brookfield Renewable Partners and gave the company an “outperform” rating in a research report on Wednesday, October 29th.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several large investors have recently bought and sold shares of the business. Activest Wealth Management increased its position in Brookfield Renewable Partners by 221.1% in the third quarter. Activest Wealth Management now owns 6,284 shares of the utilities provider’s stock worth $162,000 after purchasing an additional 4,327 shares during the last quarter. TD Waterhouse Canada Inc. boosted its stake in shares of Brookfield Renewable Partners by 1.3% during the third quarter. TD Waterhouse Canada Inc. now owns 814,252 shares of the utilities provider’s stock valued at $21,655,000 after purchasing an additional 10,761 shares during the period. PFG Investments LLC boosted its stake in shares of Brookfield Renewable Partners by 3.1% during the third quarter. PFG Investments LLC now owns 53,106 shares of the utilities provider’s stock valued at $1,370,000 after purchasing an additional 1,610 shares during the period. Root Financial Partners LLC purchased a new stake in shares of Brookfield Renewable Partners during the third quarter valued at $46,000. Finally, JCIC Asset Management Inc. purchased a new stake in Brookfield Renewable Partners in the third quarter worth about $72,000. Institutional investors own 63.16% of the company’s stock.

Brookfield Renewable Partners Trading Up 3.2%

Brookfield Renewable Partners stock opened at $31.52 on Friday. The stock has a market cap of $8.95 billion, a P/E ratio of -33.18 and a beta of 1.13. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.44 and a quick ratio of 0.44. Brookfield Renewable Partners has a 1 year low of $19.29 and a 1 year high of $32.72. The firm’s 50 day moving average price is $26.88 and its 200-day moving average price is $25.60.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released 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). The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.64 billion. Brookfield Renewable Partners had a net margin of 2.28% and a return on equity of 0.44%. On average, equities analysts predict that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

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.