Brookfield Renewable Partners (NYSE:BEP) PT Raised to $30.00 at BMO Capital Markets

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lifted by analysts at BMO Capital Markets from $28.00 to $30.00 in a research report issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 13.85% from the company’s current price.

Several other equities analysts also recently commented on the stock. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. Raymond James cut their price objective on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating on the stock in a research report on Thursday, April 25th. JPMorgan Chase & Co. restated a “neutral” rating and set a $28.00 target price (down previously from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. Finally, National Bankshares upped their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Brookfield Renewable Partners has an average rating of “Moderate Buy” and an average price target of $30.75.

Brookfield Renewable Partners Trading Down 1.1 %

NYSE:BEP opened at $26.35 on Monday. The firm has a market capitalization of $7.54 billion, a P/E ratio of -57.28 and a beta of 0.83. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.85. The company has a fifty day moving average of $22.58 and a 200 day moving average of $24.01. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors have recently modified their holdings of the stock. Commonwealth Equity Services LLC increased its position in shares of Brookfield Renewable Partners by 3.1% during the third quarter. Commonwealth Equity Services LLC now owns 34,683 shares of the utilities provider’s stock valued at $754,000 after acquiring an additional 1,047 shares in the last quarter. Stratos Wealth Partners LTD. purchased a new position in shares of Brookfield Renewable Partners in the third quarter worth $244,000. Mackenzie Financial Corp lifted its holdings in shares of Brookfield Renewable Partners by 12.1% during the third quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock valued at $3,583,000 after purchasing an additional 19,083 shares in the last quarter. CIBC Asset Management Inc boosted its position in shares of Brookfield Renewable Partners by 1.5% during the third quarter. CIBC Asset Management Inc now owns 3,786,846 shares of the utilities provider’s stock valued at $82,528,000 after buying an additional 56,651 shares during the last quarter. Finally, Principal Financial Group Inc. increased its holdings in Brookfield Renewable Partners by 0.9% in the 3rd quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock worth $141,099,000 after buying an additional 57,177 shares in the last quarter. 63.16% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners Company Profile

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.