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

Key Points

• TD raised its price target on Brookfield Renewable to $39 and reiterated a "buy" rating—implying about an 18.5% upside—while other analysts have also lifted targets (JPMorgan $40, Morgan Stanley $42) and the consensus rating is a "Moderate Buy" with a $36.53 target.
• Shares trade around $32.91 (50‑day SMA $32.40, 200‑day SMA $30.10) after the company reported a quarterly EPS miss of ($0.40) vs. ($0.36) expected but revenue roughly in line at $1.51B; market cap is about $9.98B and the trailing PE is negative (-106.13).
• Institutional ownership is high (63.16%), with Brookfield Corp notably increasing its stake to ~81.3M shares, reflecting significant insider/affiliate accumulation in the latest quarter.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price target hoisted by research analysts at TD from $38.00 to $39.00 in a research report issued on Monday,BayStreet.CA reports. The brokerage currently has a "buy" rating on the utilities provider's stock. TD's price target would suggest a potential upside of 18.51% from the stock's current price.

Other equities analysts have also issued research reports about the company. JPMorgan Chase & Co. raised their price objective on Brookfield Renewable Partners from $34.00 to $40.00 and gave the stock an "overweight" rating in a research note on Thursday, April 16th. Weiss Ratings restated a "hold (c-)" rating on shares of Brookfield Renewable Partners in a research note on Friday, March 27th. Canadian Imperial Bank of Commerce restated an "outperform" rating and set a $40.00 price objective (up from $37.00) on shares of Brookfield Renewable Partners in a research note on Monday, April 20th. Morgan Stanley lifted their price target on Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an "overweight" rating in a research note on Monday, March 23rd. Finally, TD Securities reiterated a "buy" rating and issued a $39.00 price target on shares of Brookfield Renewable Partners in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, twelve have given a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $36.53.

Brookfield Renewable Partners Price Performance

Brookfield Renewable Partners stock traded down $0.44 during mid-day trading on Monday, reaching $32.91. 703,604 shares of the company were exchanged, compared to its average volume of 747,495. The company has a fifty day simple moving average of $32.40 and a 200-day simple moving average of $30.10. Brookfield Renewable Partners has a 12 month low of $22.17 and a 12 month high of $35.97. The company has a debt-to-equity ratio of 0.80, a current ratio of 0.57 and a quick ratio of 0.57. The firm has a market cap of $9.98 billion, a PE ratio of -106.13 and a beta of 1.06.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings data on Friday, May 1st. The utilities provider reported ($0.40) EPS for the quarter, missing analysts' consensus estimates of ($0.36) by ($0.04). Brookfield Renewable Partners had a return on equity of 1.59% and a net margin of 8.28%.The company had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.50 billion. As a group, equities research analysts expect that Brookfield Renewable Partners will post -1.18 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds have recently modified their holdings of the company. BROOKFIELD Corp ON boosted its holdings in shares of Brookfield Renewable Partners by 9.4% during the 4th quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider's stock valued at $2,192,842,000 after acquiring an additional 6,967,670 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in shares of Brookfield Renewable Partners by 1.8% during the 4th quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider's stock valued at $277,930,000 after acquiring an additional 177,599 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Brookfield Renewable Partners by 20.3% during the 4th quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider's stock valued at $226,859,000 after acquiring an additional 1,415,989 shares in the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Brookfield Renewable Partners by 128.0% during the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider's stock valued at $131,265,000 after acquiring an additional 2,732,542 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Brookfield Renewable Partners by 41.9% during the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider's stock valued at $108,663,000 after acquiring an additional 1,189,130 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company's stock.

Brookfield Renewable Partners Company Profile

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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