CIBC Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $30.00

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its target price dropped by stock analysts at CIBC from $31.00 to $30.00 in a note issued to investors on Monday,Benzinga reports. The firm currently has an "outperformer" rating on the utilities provider's stock. CIBC's price target indicates a potential upside of 28.98% from the company's previous close.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating for the company in a research note on Thursday, January 23rd. Royal Bank of Canada reiterated an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Scotiabank upped their price target on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an "outperform" rating in a research note on Thursday, February 13th. Barclays initiated coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, Wells Fargo & Company decreased their target price on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $29.67.

Brookfield Renewable Partners Trading Up 2.4 %

Shares of NYSE BEP traded up $0.55 during midday trading on Monday, reaching $23.26. 485,498 shares of the stock were exchanged, compared to its average volume of 560,239. The stock has a market capitalization of $6.61 billion, a P/E ratio of -26.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The company has a 50 day simple moving average of $22.32 and a 200 day simple moving average of $23.17. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. The business had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. As a group, equities analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners in the third quarter valued at $28,000. Golden State Wealth Management LLC raised its position in shares of Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock worth $25,000 after acquiring an additional 579 shares in the last quarter. Promus Capital LLC acquired a new stake in shares of Brookfield Renewable Partners during the 4th quarter worth about $37,000. Rossby Financial LCC purchased a new stake in Brookfield Renewable Partners during the first quarter worth approximately $41,000. Finally, NBC Securities Inc. acquired a new position in Brookfield Renewable Partners in the first quarter valued at approximately $42,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

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.