Brookfield Renewable Partners (NYSE:BEP – Get Free Report) (TSE:BEP) had its price target increased by equities researchers at Royal Bank of Canada from $29.00 to $31.00 in a note issued to investors on Monday, BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. Royal Bank of Canada’s price target would indicate a potential upside of 17.65% from the stock’s current price.
A number of other 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 report on Monday, March 4th. CIBC boosted their target price on Brookfield Renewable Partners from $30.00 to $32.00 and gave the company an “outperform” rating in a research note on Monday. Raymond James decreased their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a report on Thursday, April 25th. Scotiabank raised their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Monday. Finally, National Bankshares raised their price objective on shares of Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Brookfield Renewable Partners currently has an average rating of “Moderate Buy” and an average price target of $30.75.
Read Our Latest Analysis on Brookfield Renewable Partners
Brookfield Renewable Partners Stock Performance
Hedge Funds Weigh In On Brookfield Renewable Partners
A number of institutional investors and hedge funds have recently bought and sold shares of the business. Steward Partners Investment Advisory LLC boosted its position in Brookfield Renewable Partners by 8.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock valued at $248,000 after buying an additional 750 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock valued at $156,000 after purchasing an additional 900 shares during the last quarter. Clearstead Advisors LLC grew its holdings in shares of Brookfield Renewable Partners by 8.5% in the 3rd quarter. Clearstead Advisors LLC now owns 12,383 shares of the utilities provider’s stock valued at $269,000 after acquiring an additional 967 shares in the last quarter. Baystate Wealth Management LLC bought a new stake in shares of Brookfield Renewable Partners in the 4th quarter valued at about $26,000. Finally, SFE Investment Counsel lifted its stake in Brookfield Renewable Partners by 2.1% in the 4th quarter. SFE Investment Counsel now owns 48,281 shares of the utilities provider’s stock valued at $1,269,000 after purchasing an additional 1,000 shares during the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.
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.
Further Reading
- Five stocks we like better than Brookfield Renewable Partners
- Best ESG Stocks: 11 Best Stocks for ESG Investing
- Garmin Navigates to New Highs Driven By Wearables Trend
- What is a Special Dividend?
- Pinterest Prospers From AI Boosting Shop-Ability and Relevance
- Business Services Stocks Investing
- AbbVie Tracking for New Highs in 2024
Receive News & Ratings for Brookfield Renewable Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable Partners and related companies with MarketBeat.com's FREE daily email newsletter.