National Bankshares Boosts Brookfield Renewable Partners (NYSE:BEP) Price Target to $32.00

Key Points

• National Bankshares has raised the price target for Brookfield Renewable Partners from $30.00 to $32.00, indicating a potential upside of 22.21% from its current price.
• Despite the positive outlook from National Bankshares, the stock saw a 0.3% drop on Tuesday, trading at $26.19, with a market capitalization of $7.43 billion.
• Brookfield Renewable Partners recently reported earnings of ($0.22) per share, missing the consensus estimate by ($0.03), while revenues reached $1.69 billion.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price objective increased by research analysts at National Bankshares from $30.00 to $32.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The firm currently has an "outperform" rating on the utilities provider's stock. National Bankshares' price objective points to a potential upside of 22.21% from the stock's current price.

Other research analysts have also recently issued research reports about the stock. Raymond James Financial cut shares of Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a report on Thursday, July 17th. Scotiabank increased their target price on shares of Brookfield Renewable Partners from $29.00 to $30.00 and gave the stock a "sector outperform" rating in a report on Friday, July 18th. JPMorgan Chase & Co. reduced their target price on shares of Brookfield Renewable Partners from $30.00 to $29.00 and set an "overweight" rating for the company in a report on Tuesday, July 22nd. Wells Fargo & Company reduced their target price on shares of Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating for the company in a report on Monday, May 5th. Finally, CIBC increased their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock an "outperformer" rating in a report on Monday, July 21st. One investment 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 company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $30.11.

Brookfield Renewable Partners Stock Down 0.3%

Shares of Brookfield Renewable Partners stock traded down $0.09 on Tuesday, hitting $26.19. The company had a trading volume of 135,111 shares, compared to its average volume of 644,711. The firm has a market capitalization of $7.43 billion, a P/E ratio of -27.58 and a beta of 1.05. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a debt-to-equity ratio of 0.90, a current ratio of 0.51 and a quick ratio of 0.51. The stock has a 50-day moving average of $25.86 and a 200-day moving average of $23.60.

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

Hedge Funds Weigh In On Brookfield Renewable Partners

Large investors have recently modified their holdings of the stock. Golden State Wealth Management LLC raised its position in shares of Brookfield Renewable Partners by 103.6% in the first quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 579 shares during the period. Hilltop National Bank acquired a new stake in Brookfield Renewable Partners in the 2nd quarter worth about $34,000. Rossby Financial LCC acquired a new stake in Brookfield Renewable Partners in the 1st quarter worth about $41,000. NBC Securities Inc. acquired a new stake in Brookfield Renewable Partners in the 1st quarter worth about $42,000. Finally, Activest Wealth Management acquired a new stake in Brookfield Renewable Partners in the 2nd quarter worth about $50,000. 63.16% of the stock is owned by 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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