National Bankshares Issues Pessimistic Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lowered by research analysts at National Bankshares from $32.00 to $30.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ target price would suggest a potential upside of 35.01% from the company’s current price.

Several other analysts have also recently weighed in on the stock. StockNews.com upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 3rd. Scotiabank dropped their price target on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating for the company in a research report on Thursday, January 30th. JPMorgan Chase & Co. reduced their price target on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a research report on Thursday, January 23rd. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. Finally, Wells Fargo & Company reduced their target price on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating, eight have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, Brookfield Renewable Partners presently has an average rating of “Buy” and an average price target of $30.40.

Brookfield Renewable Partners Trading Up 0.8 %

Shares of NYSE:BEP opened at $22.22 on Tuesday. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $29.56. The business has a 50 day moving average of $22.48 and a 200-day moving average of $24.59. The company has a quick ratio of 0.73, a current ratio of 0.25 and a debt-to-equity ratio of 0.93. The stock has a market cap of $6.34 billion, a PE ratio of -24.97 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period last year, the business posted $0.01 EPS. As a group, equities research analysts forecast that Brookfield Renewable Partners will post -0.99 earnings per share for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. GAMMA Investing LLC boosted its holdings in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the third quarter valued at about $28,000. Promus Capital LLC bought a new stake in shares of Brookfield Renewable Partners during the fourth quarter worth about $37,000. Jones Financial Companies Lllp increased its stake in shares of Brookfield Renewable Partners by 26.2% in the fourth 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 during the period. Finally, Allworth Financial LP bought a new position in Brookfield Renewable Partners in the 4th quarter valued at approximately $68,000. 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.