Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $30.00

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its target price upped by equities research analysts at Scotiabank from $29.00 to $30.00 in a research note issued on Friday,Benzinga reports. The firm presently has a "sector outperform" rating on the utilities provider's stock. Scotiabank's price target points to a potential upside of 10.33% from the stock's previous close.

A number of other research firms have also recently commented on BEP. Raymond James Financial cut Brookfield Renewable Partners from a "strong-buy" rating to a "moderate buy" rating in a research report on Thursday. Barclays began coverage on Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective for the company. CIBC lowered their price target on Brookfield Renewable Partners from $31.00 to $30.00 and set an "outperformer" rating on the stock in a research note on Monday, May 5th. Wells Fargo & Company lowered their price target on Brookfield Renewable Partners from $29.00 to $27.00 and set an "overweight" rating on the stock in a research note on Monday, May 5th. Finally, National Bank Financial raised Brookfield Renewable Partners to a "strong-buy" rating in a research note on Sunday, June 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and a consensus target price of $29.67.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded up $0.34 on Friday, reaching $27.19. The company's stock had a trading volume of 556,190 shares, compared to its average volume of 581,211. The company has a market capitalization of $7.72 billion, a P/E ratio of -26.92 and a beta of 0.99. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $29.56. The stock has a 50-day moving average price of $25.14 and a 200-day moving average price of $23.22. 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 (NYSE:BEP - Get Free Report) TSE: BEP last posted its quarterly earnings data on Friday, May 2nd. The utilities provider reported ($0.35) EPS for the quarter, missing analysts' consensus estimates of ($0.26) by ($0.09). The business had revenue of $907.00 million during the quarter, compared to analysts' expectations of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.79% and a negative return on equity of 0.15%. Analysts expect that Brookfield Renewable Partners will post -1.04 EPS for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC grew its holdings in shares of 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 during the period. Avantax Advisory Services Inc. grew its holdings in shares of Brookfield Renewable Partners by 3.1% during the 4th quarter. Avantax Advisory Services Inc. now owns 24,152 shares of the utilities provider's stock worth $550,000 after purchasing an additional 724 shares during the period. Commonwealth Equity Services LLC grew its holdings in shares of Brookfield Renewable Partners by 2.8% during the 4th quarter. Commonwealth Equity Services LLC now owns 26,217 shares of the utilities provider's stock worth $597,000 after purchasing an additional 725 shares during the period. Bank of Nova Scotia Trust Co. grew its holdings in shares of Brookfield Renewable Partners by 0.5% during the 1st quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider's stock worth $3,307,000 after purchasing an additional 726 shares during the period. Finally, Barclays PLC grew its holdings in shares of Brookfield Renewable Partners by 13.5% during the 4th quarter. Barclays PLC now owns 7,998 shares of the utilities provider's stock worth $183,000 after purchasing an additional 951 shares during the period. Institutional investors and hedge funds own 63.16% of the company's stock.

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.