Brookfield Renewable Partners (NYSE:BEP) Given New $40.00 Price Target at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target increased by analysts at JPMorgan Chase & Co. from $34.00 to $40.00 in a research note issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 15.37% from the company’s current price.

Several other equities research analysts also recently weighed in on BEP. Barclays set a $28.00 price target on Brookfield Renewable Partners and gave the stock an “equal weight” rating in a report on Friday, January 23rd. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Friday, March 27th. Zacks Research raised Brookfield Renewable Partners from a “hold” rating to a “strong-buy” rating in a report on Monday, April 6th. Canadian Imperial Bank of Commerce began coverage on Brookfield Renewable Partners in a report on Wednesday, March 4th. They issued an “outperformer” rating and a $37.00 price target for the company. Finally, Mizuho set a $31.00 price target on Brookfield Renewable Partners and gave the stock a “neutral” rating in a report on Monday, February 2nd. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $35.71.

Brookfield Renewable Partners Stock Down 2.0%

BEP stock traded down $0.71 during trading on Thursday, reaching $34.67. 748,223 shares of the company traded hands, compared to its average volume of 701,579. Brookfield Renewable Partners has a 12 month low of $21.11 and a 12 month high of $35.97. The business has a 50 day simple moving average of $31.85 and a 200 day simple moving average of $29.57. The company has a market capitalization of $10.52 billion, a price-to-earnings ratio of -133.35 and a beta of 1.09. The company has a debt-to-equity ratio of 0.80, a quick ratio of 0.57 and a current ratio of 0.57.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 30th. The utilities provider reported $0.54 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.34) by $0.88. Brookfield Renewable Partners had a return on equity of 2.15% and a net margin of 11.11%.The company had revenue of $1.54 billion for the quarter, compared to the consensus estimate of $1.49 billion. On average, equities research analysts anticipate that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently bought and sold shares of BEP. Kelleher Financial Advisors purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. purchased a new position in Brookfield Renewable Partners during the 2nd quarter worth approximately $34,000. Root Financial Partners LLC purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth approximately $46,000. Hilltop National Bank raised its position in Brookfield Renewable Partners by 37.6% during the 3rd quarter. Hilltop National Bank now owns 1,830 shares of the utilities provider’s stock worth $47,000 after buying an additional 500 shares during the last quarter. Finally, Triumph Capital Management purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth approximately $55,000. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.