Brookfield Renewable Partners (NYSE:BEP) Stock Price Expected to Rise, JPMorgan Chase & Co. Analyst Says

Key Points

• JPMorgan Chase & Co. has increased its price target for Brookfield Renewable Partners from $30.00 to $32.00, indicating a potential upside of 25.91% from the last closing price.
• The stock is currently rated as "Buy" by the consensus of analysts, with one Strong Buy, six Buy, and one Hold ratings, while the average consensus price target stands at $30.44.
• Despite the optimistic outlook, Brookfield Renewable Partners saw its shares decrease by 0.8%, trading at $25.41 on the last reported day.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its target price lifted by research analysts at JPMorgan Chase & Co. from $30.00 to $32.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. JPMorgan Chase & Co.'s target price points to a potential upside of 26.03% from the stock's previous close.

Other research analysts have also recently issued reports about the company. National Bankshares raised their price objective on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an "outperform" rating in a research note on Tuesday, August 5th. Scotiabank raised their price target on Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a research note on Friday, July 18th. Raymond James Financial cut shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday, July 17th. CIBC lifted their target price on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. Finally, National Bank Financial raised shares of Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $30.44.

Brookfield Renewable Partners Trading Up 1.8%

NYSE:BEP traded up $0.45 during trading hours on Friday, hitting $25.39. 544,884 shares of the company were exchanged, compared to its average volume of 607,755. The company has a fifty day simple moving average of $25.73 and a 200 day simple moving average of $24.35. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.97. Brookfield Renewable Partners has a one year low of $19.29 and a one year high of $29.56. The stock has a market capitalization of $7.21 billion, a price-to-earnings ratio of -26.73 and a beta of 1.04.

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

Institutional Trading of Brookfield Renewable Partners

A number of institutional investors have recently modified their holdings of the business. Golden State Wealth Management LLC increased its position in 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 purchasing an additional 579 shares in the last quarter. Hilltop National Bank acquired a new stake in shares of Brookfield Renewable Partners during the second quarter valued at about $34,000. Russell Investments Group Ltd. bought a new position in Brookfield Renewable Partners during the 2nd quarter valued at $34,000. Rossby Financial LCC bought a new position in Brookfield Renewable Partners during the first quarter worth $41,000. Finally, NBC Securities Inc. acquired a new stake in shares of Brookfield Renewable Partners in the 1st quarter worth about $42,000. 63.16% of the stock is currently owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

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.