Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $27.00 by Analysts at Wells Fargo & Company

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price target dropped by research analysts at Wells Fargo & Company from $29.00 to $27.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an "overweight" rating on the utilities provider's stock. Wells Fargo & Company's price objective would suggest a potential upside of 16.08% from the company's current price.

A number of other research firms also recently commented on BEP. Royal Bank of Canada reaffirmed an "outperform" rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, February 3rd. Scotiabank upped their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the company an "outperform" rating in a research report on Thursday, February 13th. National Bankshares dropped their target price on Brookfield Renewable Partners from $32.00 to $30.00 and set an "outperform" rating on the stock in a research report on Tuesday, February 11th. Barclays started coverage on shares of Brookfield Renewable Partners in a research report on Wednesday, April 2nd. They set an "equal weight" rating and a $27.00 price target for the company. Finally, CIBC dropped their price objective on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, Brookfield Renewable Partners has a consensus rating of "Moderate Buy" and an average price target of $29.67.

Brookfield Renewable Partners Stock Up 2.4 %

Shares of NYSE:BEP traded up $0.55 during trading on Monday, reaching $23.26. 485,498 shares of the stock traded hands, compared to its average volume of 560,239. The stock has a market cap of $6.61 billion, a P/E ratio of -26.13 and a beta of 0.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The stock has a 50-day moving average of $22.32 and a two-hundred day moving average of $23.17. Brookfield Renewable Partners has a 52-week low of $19.29 and a 52-week high of $29.56.

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

Institutional Trading of Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in BEP. Jones Financial Companies Lllp grew its holdings in Brookfield Renewable Partners by 26.2% during the 4th quarter. Jones Financial Companies Lllp now owns 2,587 shares of the utilities provider's stock valued at $59,000 after buying an additional 537 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in 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 in the last quarter. Avantax Advisory Services Inc. boosted 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 valued at $550,000 after purchasing an additional 724 shares during the last quarter. Commonwealth Equity Services LLC increased its holdings in shares of Brookfield Renewable Partners by 2.8% in the fourth 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 last quarter. Finally, Bank of Nova Scotia Trust Co. lifted its position in shares of Brookfield Renewable Partners by 0.5% in the first quarter. Bank of Nova Scotia Trust Co. now owns 149,221 shares of the utilities provider's stock worth $3,307,000 after buying an additional 726 shares in the last quarter. 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.