Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $27.00

Key Points

• Mizuho has raised the price target for Brookfield Renewable Partners from $26.00 to $27.00, suggesting a potential upside of 4.61% from the current price of $25.81.
• Analysts' ratings vary, with one rating the stock as a strong buy, six as buy, and two as hold, leading to an average rating of "Moderate Buy" with a consensus price target of $30.10.
• In recent trading, Brookfield Renewable Partners saw a 1.1% increase in its stock price and has a market cap of $7.33 billion with a fifty-two week trading range between $19.29 and $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price target boosted by research analysts at Mizuho from $26.00 to $27.00 in a research note issued to investors on Friday,Benzinga reports. The firm presently has a "neutral" rating on the utilities provider's stock. Mizuho's target price suggests a potential upside of 4.61% from the company's current price.

BEP has been the topic of several other reports. JPMorgan Chase & Co. raised their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "overweight" rating in a research note on Friday, September 19th. CIBC boosted their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. National Bank Financial upgraded Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. Raymond James Financial cut Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. Finally, National Bankshares increased their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a report on Tuesday, August 5th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and two have issued a Hold rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $30.10.

Brookfield Renewable Partners Trading Up 1.1%

NYSE BEP traded up $0.29 during trading on Friday, reaching $25.81. 41,382 shares of the stock traded hands, compared to its average volume of 604,884. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $29.56. The company has a quick ratio of 0.44, a current ratio of 0.44 and a debt-to-equity ratio of 0.97. The stock's 50-day moving average price is $25.64 and its 200 day moving average price is $24.40. The firm has a market cap of $7.33 billion, a price-to-earnings ratio of -27.16 and a beta of 1.04.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Friday, August 1st. The utilities provider reported ($0.22) earnings per share for the quarter, missing analysts' consensus estimates of ($0.19) by ($0.03). Brookfield Renewable Partners had a return on equity of 0.44% and a net margin of 2.28%.The firm had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.64 billion. Analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. SOA Wealth Advisors LLC. purchased a new stake in shares of Brookfield Renewable Partners in the 1st quarter valued at about $583,000. Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Brookfield Renewable Partners by 16.8% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 25,921 shares of the utilities provider's stock valued at $574,000 after purchasing an additional 3,722 shares during the last quarter. Royal Bank of Canada increased its position in Brookfield Renewable Partners by 2.3% in the 1st quarter. Royal Bank of Canada now owns 16,839,565 shares of the utilities provider's stock valued at $373,164,000 after acquiring an additional 374,087 shares during the period. Raymond James Financial Inc. increased its position in Brookfield Renewable Partners by 18.1% in the 1st quarter. Raymond James Financial Inc. now owns 135,895 shares of the utilities provider's stock valued at $3,011,000 after acquiring an additional 20,799 shares during the period. Finally, Groupe la Francaise increased its position in Brookfield Renewable Partners by 20.9% in the 1st quarter. Groupe la Francaise now owns 162,557 shares of the utilities provider's stock valued at $3,967,000 after acquiring an additional 28,058 shares during the period. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

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.

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