Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $37.00 at National Bank Financial

Key Points

• National Bank Financial lowered Brookfield Renewable Partners’ price target from $39 to $37 while maintaining an “outperform” rating, implying 13.79% upside from the prior close.
• Analyst sentiment remains generally positive, with a “Moderate Buy” consensus rating and an average price target of $37.79 from 16 analysts.
• BEP shares fell to $32.52, while the company’s latest quarterly results missed earnings expectations but exceeded revenue forecasts; institutional investors own 63.16% of the stock.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its target price reduced by stock analysts at National Bank Financial from $39.00 to $37.00 in a report released on Wednesday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. National Bank Financial's target price would indicate a potential upside of 13.79% from the stock's previous close.

Other analysts also recently issued reports about the company. Weiss Ratings restated a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research report on Wednesday, June 24th. TD lifted their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the company a "buy" rating in a research report on Monday, May 4th. JPMorgan Chase & Co. reissued a "neutral" rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a research note on Tuesday, July 21st. Wall Street Zen downgraded Brookfield Renewable Partners from a "sell" rating to a "strong sell" rating in a research note on Sunday, May 10th. Finally, TD Securities reissued a "buy" rating and issued a $39.00 target price on shares of Brookfield Renewable Partners in a report on Monday, May 4th. Ten equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $37.79.

Brookfield Renewable Partners Price Performance

BEP traded down $0.53 during trading on Wednesday, hitting $32.52. 586,825 shares of the stock traded hands, compared to its average volume of 815,509. Brookfield Renewable Partners has a twelve month low of $24.13 and a twelve month high of $38.12. The company has a market cap of $9.76 billion, a price-to-earnings ratio of -70.82 and a beta of 1.11. The company has a debt-to-equity ratio of 0.87, a current ratio of 0.80 and a quick ratio of 0.75. The business has a 50 day moving average price of $34.22 and a 200 day moving average price of $32.81.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its earnings results on Friday, July 31st. The utilities provider reported ($0.37) earnings per share for the quarter, missing the consensus estimate of ($0.35) by ($0.02). The business had revenue of $1.71 billion for the quarter, compared to the consensus estimate of $1.56 billion. Brookfield Renewable Partners had a return on equity of 0.84% and a net margin of 4.50%. Equities research analysts forecast that Brookfield Renewable Partners will post -1.55 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in BEP. Kelleher Financial Advisors bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $26,000. Russell Investments Group Ltd. bought a new position in shares of Brookfield Renewable Partners during the second quarter valued at $34,000. CENTRAL TRUST Co bought a new position in shares of Brookfield Renewable Partners during the first quarter valued at $55,000. Triumph Capital Management acquired a new position in shares of Brookfield Renewable Partners during the third quarter worth $55,000. Finally, Global Retirement Partners LLC lifted its holdings 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. Institutional investors own 63.16% of the company's stock.

About Brookfield Renewable Partners

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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