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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target lifted by TD Securities from $31.00 to $35.00 in a report published on Monday morning,BayStreet.CA reports. TD Securities currently has a buy rating on the utilities provider’s stock.

BEP has been the topic of a number of other reports. CIBC restated an “outperform” rating and set a $33.00 price objective on shares of Brookfield Renewable Partners in a report on Tuesday, October 21st. BMO Capital Markets set a $36.00 price objective on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Weiss Ratings restated a “sell (d+)” rating on shares of Brookfield Renewable Partners in a report on Wednesday, October 8th. Royal Bank Of Canada raised their price objective on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Finally, Desjardins raised their price objective on shares of Brookfield Renewable Partners from $42.00 to $46.00 and gave the stock a “hold” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $33.54.

Brookfield Renewable Partners Trading Up 3.2%

Shares of NYSE BEP opened at $31.52 on Monday. The company’s fifty day moving average is $26.88 and its 200-day moving average is $25.60. The stock has a market cap of $8.95 billion, a price-to-earnings ratio of -33.18 and a beta of 1.13. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $32.72. 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 results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing analysts’ consensus estimates 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 the consensus estimate of $1.64 billion. Equities research analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. Hilltop National Bank acquired a new stake in Brookfield Renewable Partners in the 2nd quarter valued at $34,000. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners in the 2nd quarter valued at $34,000. Root Financial Partners LLC bought a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at about $46,000. Activest Wealth Management bought a new position in shares of Brookfield Renewable Partners in the 2nd quarter valued at about $50,000. Finally, Northwestern Mutual Wealth Management Co. grew its position in shares of Brookfield Renewable Partners by 136.6% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider’s stock valued at $60,000 after acquiring an additional 1,576 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.