Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) had its target price lowered by equities researchers at National Bank Financial from $39.00 to $37.00 in a research report issued to clients and investors on Wednesday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. National Bank Financial’s target price suggests a potential upside of 13.79% from the stock’s previous close.
BEP has been the topic of several other research reports. TD boosted their target price on shares of Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a “buy” rating in a report on Monday, May 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. TD Securities reissued a “buy” rating and issued a $39.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, May 4th. Scotiabank reissued an “outperform” rating and issued a $42.00 price objective (up from $36.00) on shares of Brookfield Renewable Partners in a research note on Friday, May 29th. Finally, Wall Street Zen lowered Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research report on Sunday, May 10th. Ten analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $37.79.
Check Out Our Latest Stock Report on BEP
Brookfield Renewable Partners Trading Down 1.6%
Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) last posted its quarterly earnings data on Friday, July 31st. The utilities provider reported ($0.37) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by ($0.02). Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%.The company had revenue of $1.71 billion during the quarter, compared to analyst estimates of $1.56 billion. On average, equities research analysts anticipate that Brookfield Renewable Partners will post -1.55 earnings per share for the current fiscal year.
Institutional Inflows and Outflows
A number of institutional investors have recently added to or reduced their stakes in BEP. Kelleher Financial Advisors bought a new position in Brookfield Renewable Partners in the third quarter worth approximately $26,000. Russell Investments Group Ltd. acquired a new stake in Brookfield Renewable Partners in the second quarter valued at approximately $34,000. CENTRAL TRUST Co bought a new stake in shares of Brookfield Renewable Partners during the first quarter valued at approximately $55,000. Triumph Capital Management bought a new stake in shares of Brookfield Renewable Partners during the third quarter valued at approximately $55,000. Finally, Global Retirement Partners LLC raised its position in shares of Brookfield Renewable Partners by 284.5% during the fourth quarter. Global Retirement Partners LLC now owns 2,207 shares of the utilities provider’s stock worth $60,000 after purchasing an additional 1,633 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.
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.
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