Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $32.00 at National Bankshares

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target decreased by research analysts at National Bankshares from $33.00 to $32.00 in a research report issued on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ target price indicates a potential upside of 38.11% from the stock’s current price.

Several other equities analysts have also issued reports on BEP. Royal Bank of Canada restated an “outperform” rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research report on Wednesday. CIBC lifted their price target on Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperformer” rating in a research report on Tuesday, October 22nd. JPMorgan Chase & Co. upgraded Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price objective for the company in a research note on Thursday, December 12th. Finally, UBS Group upgraded Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a research note on Monday, September 30th. One analyst has rated the stock with a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners presently has a consensus rating of “Buy” and an average price target of $31.78.

Brookfield Renewable Partners Trading Down 1.4 %

NYSE:BEP traded down $0.34 during mid-day trading on Wednesday, hitting $23.17. 248,581 shares of the company’s stock were exchanged, compared to its average volume of 485,371. The company has a 50 day simple moving average of $25.82 and a 200-day simple moving average of $25.59. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The firm has a market capitalization of $6.61 billion, a P/E ratio of -28.26 and a beta of 0.93. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the business earned ($0.14) earnings per share. As a group, research analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several hedge funds have recently made changes to their positions in BEP. Wilmington Savings Fund Society FSB acquired a new position in Brookfield Renewable Partners during the 3rd quarter worth approximately $28,000. Barclays PLC grew its stake in shares of Brookfield Renewable Partners by 40.6% during the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 2,036 shares during the period. Toronto Dominion Bank lifted its stake in shares of Brookfield Renewable Partners by 11.1% in the third quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock valued at $48,905,000 after purchasing an additional 173,882 shares during the period. National Bank of Canada FI boosted its holdings in Brookfield Renewable Partners by 2.6% during the third quarter. National Bank of Canada FI now owns 1,040,674 shares of the utilities provider’s stock worth $29,326,000 after buying an additional 25,916 shares in the last quarter. Finally, Stifel Financial Corp grew its position in Brookfield Renewable Partners by 1.3% during the third quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after buying an additional 403 shares during the period. Hedge funds and other institutional investors own 63.16% of the company’s stock.

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.