Scotiabank Increases Brookfield Renewable Partners (NYSE:BEP) Price Target to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by Scotiabank from $30.00 to $31.00 in a research note issued to investors on Monday, MarketBeat.com reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s price target suggests a potential upside of 17.65% from the company’s previous close.

Several other research firms have also commented on BEP. Raymond James reduced their price target 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. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Monday, March 4th. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $28.00 price target (down from $36.00) on shares of Brookfield Renewable Partners in a report on Monday, February 12th. National Bankshares boosted 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. Finally, BMO Capital Markets raised their target price on Brookfield Renewable Partners from $28.00 to $30.00 and gave the company an “outperform” rating in a research note on Monday. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the stock 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 business’s 50-day moving average is $22.58 and its two-hundred day moving average is $24.01. The firm has a market capitalization of $7.54 billion, a PE ratio of -57.28 and a beta of 0.83. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $32.76. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57.

Hedge Funds Weigh In On Brookfield Renewable Partners

Large investors have recently added to or reduced their stakes in the company. Commonwealth Equity Services LLC increased its stake in 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 purchasing an additional 1,047 shares during the last quarter. Stratos Wealth Partners LTD. bought a new stake in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $244,000. Mackenzie Financial Corp raised its stake in Brookfield Renewable Partners by 12.1% during the third quarter. Mackenzie Financial Corp now owns 176,224 shares of the utilities provider’s stock worth $3,583,000 after acquiring an additional 19,083 shares during the period. CIBC Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 1.5% in the third quarter. CIBC Asset Management Inc now owns 3,786,846 shares of the utilities provider’s stock worth $82,528,000 after acquiring an additional 56,651 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its stake in Brookfield Renewable Partners by 0.9% in the third quarter. Principal Financial Group Inc. now owns 6,490,296 shares of the utilities provider’s stock valued at $141,099,000 after acquiring an additional 57,177 shares during the period. 63.16% of the stock is currently owned by 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.