Brookfield Renewable Partners (NYSE:BEP) Rating Increased to Buy at UBS Group

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by equities research analysts at UBS Group from a “neutral” rating to a “buy” rating in a research note issued on Monday, Marketbeat reports. The brokerage presently has a $31.00 price objective on the utilities provider’s stock, up from their previous price objective of $24.00. UBS Group’s target price suggests a potential upside of 9.73% from the company’s current price.

BEP has been the subject of several other reports. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, August 5th. JPMorgan Chase & Co. raised their price target on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Scotiabank raised their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, June 12th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Finally, National Bankshares raised their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research report on Friday, July 19th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Brookfield Renewable Partners Stock Up 0.2 %

BEP opened at $28.25 on Monday. The stock has a market capitalization of $8.05 billion, a P/E ratio of -61.41 and a beta of 0.93. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $28.81. The business’s 50-day simple moving average is $25.13 and its 200-day simple moving average is $24.91.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The business had revenue of $1.48 billion for the quarter, compared to analysts’ expectations of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business’s revenue was up 23.0% on a year-over-year basis. During the same quarter last year, the business posted ($0.10) earnings per share. Analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors have recently added to or reduced their stakes in the company. Corient Private Wealth LLC lifted its stake in shares of Brookfield Renewable Partners by 12.1% during the fourth quarter. Corient Private Wealth LLC now owns 18,188 shares of the utilities provider’s stock worth $478,000 after purchasing an additional 1,968 shares in the last quarter. Franklin Resources Inc. lifted its stake in shares of Brookfield Renewable Partners by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock worth $2,162,000 after purchasing an additional 1,126 shares in the last quarter. Steward Partners Investment Advisory LLC lifted its stake in shares of Brookfield Renewable Partners by 8.6% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock worth $248,000 after purchasing an additional 750 shares in the last quarter. Belpointe Asset Management LLC lifted its stake in shares of Brookfield Renewable Partners by 13.8% during the fourth quarter. Belpointe Asset Management LLC now owns 10,751 shares of the utilities provider’s stock worth $283,000 after purchasing an additional 1,307 shares in the last quarter. Finally, 1832 Asset Management L.P. lifted its stake in shares of Brookfield Renewable Partners by 1.4% during the fourth quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock worth $326,691,000 after purchasing an additional 173,402 shares in the last quarter. Hedge funds and other 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.