Brookfield Renewable Partners (NYSE:BEP) PT Raised to $32.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target lifted by equities researchers at CIBC from $30.00 to $32.00 in a research note issued on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. CIBC’s target price would indicate a potential upside of 21.44% from the company’s previous close.

A number of other research firms also recently weighed in on BEP. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. National Bankshares boosted their price target on Brookfield Renewable Partners from $29.00 to $31.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Raymond James decreased their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set a “strong-buy” rating for the company in a research note on Thursday, April 25th. JPMorgan Chase & Co. reiterated a “neutral” rating and set a $28.00 price objective (down previously from $36.00) on shares of Brookfield Renewable Partners in a research note on Monday, February 12th. Finally, BMO Capital Markets lifted their price objective on shares of Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $30.75.

Brookfield Renewable Partners Trading Down 1.1 %

Brookfield Renewable Partners stock opened at $26.35 on Monday. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76. The stock has a 50-day moving average price of $22.58 and a 200 day moving average price of $24.01. The stock has a market cap of $7.54 billion, a PE ratio of -57.28 and a beta of 0.83. The company has a current ratio of 0.57, a quick ratio of 0.57 and a debt-to-equity ratio of 0.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in BEP. Royal Bank of Canada raised its stake in shares of Brookfield Renewable Partners by 0.9% during the 3rd quarter. Royal Bank of Canada now owns 13,252,391 shares of the utilities provider’s stock worth $288,107,000 after purchasing an additional 117,246 shares in the last quarter. FIL Ltd lifted its position in shares of Brookfield Renewable Partners by 37.1% in the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock worth $337,385,000 after acquiring an additional 3,474,522 shares during the period. 1832 Asset Management L.P. raised its stake in shares of Brookfield Renewable Partners by 1.4% in the 4th quarter. 1832 Asset Management L.P. now owns 12,431,178 shares of the utilities provider’s stock valued at $326,691,000 after buying an additional 173,402 shares in the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 4.4% during the first quarter. Principal Financial Group Inc. now owns 7,208,237 shares of the utilities provider’s stock valued at $167,447,000 after purchasing an additional 302,274 shares in the last quarter. Finally, CIBC Asset Management Inc grew its position in Brookfield Renewable Partners by 63.2% in the fourth quarter. CIBC Asset Management Inc now owns 6,181,699 shares of the utilities provider’s stock valued at $162,917,000 after acquiring an additional 2,394,853 shares during the period. 63.16% of the stock is currently owned by institutional investors and hedge funds.

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.