Scotiabank Issues Positive Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target boosted by equities researchers at Scotiabank from $28.00 to $29.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The firm presently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s target price suggests a potential upside of 29.06% from the company’s previous close.

Other analysts also recently issued research reports about the stock. CIBC dropped their target price on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating for the company in a research report on Monday, February 3rd. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Wells Fargo & Company lowered their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday, February 3rd. StockNews.com downgraded shares of Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Wednesday. Finally, National Bankshares lowered their price objective on shares of Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating for the company in a research report on Tuesday. One analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners currently has an average rating of “Buy” and an average target price of $30.50.

Brookfield Renewable Partners Trading Up 1.1 %

Shares of BEP stock traded up $0.25 during trading hours on Thursday, hitting $22.47. 225,318 shares of the company were exchanged, compared to its average volume of 939,487. The firm has a fifty day moving average of $22.42 and a 200 day moving average of $24.58. The firm has a market cap of $6.41 billion, a PE ratio of -25.27 and a beta of 0.95. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the prior year, the firm posted $0.01 earnings per share. Analysts expect that Brookfield Renewable Partners will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Several large investors have recently added to or reduced their stakes in BEP. GAMMA Investing LLC lifted its stake in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares during the last quarter. Creative Planning bought a new stake in Brookfield Renewable Partners in the third quarter valued at $206,000. Aspiriant LLC bought a new stake in Brookfield Renewable Partners in the third quarter valued at $241,000. Sequoia Financial Advisors LLC bought a new stake in Brookfield Renewable Partners in the third quarter valued at $6,191,000. Finally, Private Advisor Group LLC lifted its stake in Brookfield Renewable Partners by 47.8% in the third quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock valued at $917,000 after buying an additional 10,521 shares during the last quarter. 63.16% of the stock is currently owned by institutional investors.

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.