Brookfield Renewable Partners (NYSE:BEP) Stock Price Expected to Rise, CIBC Analyst Says

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price objective boosted by research analysts at CIBC from $30.00 to $31.00 in a research report issued to clients and investors on Monday,Benzinga reports. The firm currently has an "outperformer" rating on the utilities provider's stock. CIBC's price target suggests a potential upside of 12.53% from the stock's previous close.

Other equities research analysts have also issued reports about the company. National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research report on Sunday, June 8th. Raymond James Financial downgraded Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research note on Thursday. Wells Fargo & Company cut their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a research note on Monday, May 5th. Scotiabank increased 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. Finally, Barclays started coverage on Brookfield Renewable Partners in a research note on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 price target for the company. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, six have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has an average rating of "Moderate Buy" and a consensus target price of $29.78.

Brookfield Renewable Partners Trading Up 1.3%

BEP traded up $0.35 during trading on Monday, hitting $27.55. The company's stock had a trading volume of 169,359 shares, compared to its average volume of 579,680. The company has a quick ratio of 0.51, a current ratio of 0.51 and a debt-to-equity ratio of 0.90. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The stock's fifty day moving average price is $25.14 and its 200-day moving average price is $23.22. The firm has a market capitalization of $7.82 billion, a P/E ratio of -27.29 and a beta of 0.99.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). The firm had revenue of $907.00 million for the quarter, compared to analyst estimates of $1.73 billion. Brookfield Renewable Partners had a negative return on equity of 0.15% and a negative net margin of 0.79%. Analysts anticipate that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of large investors have recently modified their holdings of the company. Golden State Wealth Management LLC increased its stake in shares of Brookfield Renewable Partners by 103.6% during the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after buying an additional 579 shares during the period. Rossby Financial LCC purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at approximately $41,000. NBC Securities Inc. purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at approximately $42,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Brookfield Renewable Partners by 136.6% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,730 shares of the utilities provider's stock valued at $60,000 after buying an additional 1,576 shares during the period. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at approximately $69,000. 63.16% of the stock is 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.

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