Brookfield Renewable Partners (NYSE:BEP) Given New $30.00 Price Target at BMO Capital Markets

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target raised by equities research analysts at BMO Capital Markets from $28.00 to $30.00 in a note issued to investors on Monday, BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. BMO Capital Markets’ target price points to a potential upside of 12.61% from the stock’s current price.

Other equities research analysts also recently issued research reports about the company. 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 research report on Monday, February 12th. Raymond James cut their target price on shares of 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. National Bankshares lifted their target price 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, StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Monday, March 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.75.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP traded up $0.86 during trading on Monday, reaching $26.64. The stock had a trading volume of 498,143 shares, compared to its average volume of 523,314. The stock has a market capitalization of $7.62 billion, a PE ratio of -57.91 and a beta of 0.83. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.57 and a quick ratio of 0.57. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $32.76. The business’s 50-day moving average price is $22.43 and its 200 day moving average price is $23.94.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, February 2nd. The utilities provider reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.02) by $0.03. Brookfield Renewable Partners had a net margin of 7.10% and a return on equity of 1.31%. The firm had revenue of $1.32 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same quarter last year, the company posted ($0.16) EPS. The company’s quarterly revenue was up 10.6% compared to the same quarter last year. As a group, equities analysts predict that Brookfield Renewable Partners will post -0.01 earnings per share for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds have recently made changes to their positions in BEP. Baystate Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners during the 4th quarter worth approximately $26,000. Scarborough Advisors LLC bought a new position in Brookfield Renewable Partners during the fourth quarter worth $30,000. Dixon Mitchell Investment Counsel Inc. acquired a new position in shares of Brookfield Renewable Partners in the first quarter valued at $31,000. Northwest Financial Advisors acquired a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at $65,000. Finally, Principal Securities Inc. bought a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at about $77,000. 63.16% of the stock is 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.