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Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) had its price objective decreased by research analysts at Raymond James Financial, Inc. from $35.00 to $33.00 in a research report issued to clients and investors on Tuesday, August 8th. The firm presently has a “market perform” rating on the utilities provider’s stock. Raymond James Financial, Inc.’s price target indicates a potential downside of 5.36% from the company’s previous close.
Several other analysts also recently commented on the stock. TheStreet raised shares of Brookfield Renewable Partners L.P. from a “d+” rating to a “c-” rating in a research report on Tuesday, June 27th. Wells Fargo & Company began coverage on shares of Brookfield Renewable Partners L.P. in a research report on Tuesday, May 9th. They issued an “outperform” rating for the company. Zacks Investment Research raised shares of Brookfield Renewable Partners L.P. from a “sell” rating to a “hold” rating in a research report on Tuesday, May 16th. Barclays PLC set a $36.00 target price on shares of Brookfield Renewable Partners L.P. and gave the stock a “hold” rating in a research report on Sunday, August 6th. Finally, TD Securities boosted their target price on shares of Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the stock a “buy” rating in a research report on Tuesday, August 8th. Ten equities research analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $36.56.
Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded up 1.04% during trading on Tuesday, hitting $34.87. 36,041 shares of the company’s stock were exchanged. The firm has a market capitalization of $10.34 billion, a PE ratio of 11623.33 and a beta of 0.25. The stock’s 50 day moving average is $33.34 and its 200 day moving average is $31.27. Brookfield Renewable Partners L.P. has a 1-year low of $26.61 and a 1-year high of $35.00.
Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, August 4th. The utilities provider reported $0.13 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The firm had revenue of $683 million for the quarter, compared to analyst estimates of $721.75 million. Brookfield Renewable Partners L.P. had a net margin of 2.82% and a return on equity of 0.76%. On average, equities research analysts forecast that Brookfield Renewable Partners L.P. will post $0.11 earnings per share for the current year.
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Several hedge funds have recently bought and sold shares of BEP. Bank of Montreal Can increased its stake in Brookfield Renewable Partners L.P. by 11.4% in the first quarter. Bank of Montreal Can now owns 4,496,989 shares of the utilities provider’s stock valued at $133,696,000 after buying an additional 459,698 shares in the last quarter. Hexavest Inc. increased its stake in Brookfield Renewable Partners L.P. by 8.3% in the first quarter. Hexavest Inc. now owns 334,740 shares of the utilities provider’s stock valued at $9,889,000 after buying an additional 25,708 shares in the last quarter. Karpas Strategies LLC increased its stake in Brookfield Renewable Partners L.P. by 0.8% in the first quarter. Karpas Strategies LLC now owns 115,725 shares of the utilities provider’s stock valued at $3,441,000 after buying an additional 900 shares in the last quarter. Principal Financial Group Inc. increased its stake in Brookfield Renewable Partners L.P. by 5.6% in the first quarter. Principal Financial Group Inc. now owns 2,249,697 shares of the utilities provider’s stock valued at $66,883,000 after buying an additional 119,318 shares in the last quarter. Finally, FMR LLC increased its stake in Brookfield Renewable Partners L.P. by 2.9% in the first quarter. FMR LLC now owns 1,185,800 shares of the utilities provider’s stock valued at $35,132,000 after buying an additional 33,000 shares in the last quarter. 54.31% of the stock is owned by institutional investors and hedge funds.
About Brookfield Renewable Partners L.P.
Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.
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