Wells Fargo & Company Has Lowered Expectations for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its target price decreased by analysts at Wells Fargo & Company from $29.00 to $27.00 in a report issued on Monday,Benzinga reports. The firm currently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's price objective indicates a potential upside of 18.16% from the company's previous close.

BEP has been the subject of several other research reports. National Bankshares dropped their price target on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating for the company in a research note on Tuesday, February 11th. JPMorgan Chase & Co. decreased their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, January 23rd. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Tuesday, February 25th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Finally, Barclays assumed coverage on Brookfield Renewable Partners in a report on Wednesday, April 2nd. They issued an "equal weight" rating and a $27.00 price objective on the stock. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $29.80.

Brookfield Renewable Partners Stock Performance

NYSE:BEP opened at $22.85 on Monday. Brookfield Renewable Partners has a twelve month low of $19.29 and a twelve month high of $29.56. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.49 billion, a P/E ratio of -25.67 and a beta of 0.99. The business's 50-day moving average price is $22.30 and its two-hundred day moving average price is $23.30.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last announced its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). The company had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. As a group, equities analysts predict that Brookfield Renewable Partners will post -1.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. Golden State Wealth Management LLC raised its position in shares of Brookfield Renewable Partners by 103.6% in 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 last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners in the third quarter worth approximately $28,000. Promus Capital LLC bought a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $37,000. Rossby Financial LCC bought a new stake in shares of Brookfield Renewable Partners during the first quarter valued at approximately $41,000. Finally, NBC Securities Inc. bought a new position in Brookfield Renewable Partners in the 1st quarter valued at approximately $42,000. Hedge funds and other institutional investors 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.

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