Brookfield Renewable Partners (NYSE:BEP) Given New $28.00 Price Target at Scotiabank

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price cut by investment analysts at Scotiabank from $32.00 to $28.00 in a research report issued on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s price target would indicate a potential upside of 33.55% from the stock’s current price.

Several other equities research analysts have also recently weighed in on the stock. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. National Bankshares decreased their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. Finally, CIBC increased their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. One analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus price target of $31.78.

Brookfield Renewable Partners Trading Up 1.5 %

NYSE BEP traded up $0.32 on Thursday, hitting $20.97. The company’s stock had a trading volume of 177,766 shares, compared to its average volume of 974,218. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The company’s 50-day moving average is $23.19 and its 200 day moving average is $24.78. The firm has a market cap of $5.98 billion, a PE ratio of -25.57 and a beta of 0.95.

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

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BEP. The Manufacturers Life Insurance Company raised its holdings in shares of Brookfield Renewable Partners by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock valued at $6,988,000 after purchasing an additional 1,333 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in shares of Brookfield Renewable Partners in the second quarter valued at about $359,000. GAMMA Investing LLC raised its holdings in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after purchasing an additional 442 shares during the last quarter. Creative Planning purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at about $206,000. Finally, Aspiriant LLC purchased a new stake in shares of Brookfield Renewable Partners in the third quarter valued at about $241,000. 63.16% of the stock is 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.