Brookfield Renewable Partners (NYSE:BEP) Earns Neutral Rating from JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP)‘s stock had its “neutral” rating reissued by equities research analysts at JPMorgan Chase & Co. in a report issued on Tuesday,Benzinga reports. They presently have a $36.00 price target on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target points to a potential upside of 13.04% from the company’s current price.

BEP has been the topic of several other research reports. TD Securities reiterated a “buy” rating and set a $39.00 price target on shares of Brookfield Renewable Partners in a research report on Monday, May 4th. Canadian Imperial Bank of Commerce restated an “outperform” rating and issued a $41.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday. Wall Street Zen downgraded shares of Brookfield Renewable Partners from a “sell” rating to a “strong sell” rating in a research note on Sunday, May 10th. UBS Group reiterated a “buy” rating and set a $40.00 target price (up from $39.00) on shares of Brookfield Renewable Partners in a research report on Friday, June 12th. Finally, National Bank Financial increased their price target on shares of Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a research note on Thursday, June 11th. Ten research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $37.79.

Brookfield Renewable Partners Stock Down 0.6%

NYSE BEP traded down $0.20 during trading on Tuesday, hitting $31.85. 57,025 shares of the company traded hands, compared to its average volume of 771,379. Brookfield Renewable Partners has a 12 month low of $24.13 and a 12 month high of $38.12. The business has a fifty day simple moving average of $34.71 and a 200 day simple moving average of $32.42. The company has a market capitalization of $9.56 billion, a P/E ratio of -102.84 and a beta of 1.10. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.51 billion during the quarter, compared to the consensus estimate of $1.50 billion. As a group, sell-side analysts predict that Brookfield Renewable Partners will post -1.53 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BEP. BROOKFIELD Corp ON increased its stake in Brookfield Renewable Partners by 9.4% in the fourth quarter. BROOKFIELD Corp ON now owns 81,306,719 shares of the utilities provider’s stock valued at $2,192,842,000 after acquiring an additional 6,967,670 shares during the last quarter. Principal Financial Group Inc. lifted its stake in Brookfield Renewable Partners by 1.8% during the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock worth $277,930,000 after purchasing an additional 177,599 shares during the last quarter. Bank of Montreal Can lifted its stake in Brookfield Renewable Partners by 20.3% during the fourth quarter. Bank of Montreal Can now owns 8,394,947 shares of the utilities provider’s stock worth $226,859,000 after purchasing an additional 1,415,989 shares during the last quarter. State of Wisconsin Investment Board boosted its holdings in shares of Brookfield Renewable Partners by 128.0% in the 4th quarter. State of Wisconsin Investment Board now owns 4,867,084 shares of the utilities provider’s stock valued at $131,265,000 after purchasing an additional 2,732,542 shares in the last quarter. Finally, Morgan Stanley boosted its holdings in shares of Brookfield Renewable Partners by 41.9% in the 4th quarter. Morgan Stanley now owns 4,029,046 shares of the utilities provider’s stock valued at $108,663,000 after purchasing an additional 1,189,130 shares in the last quarter. 63.16% of the stock is owned by institutional investors and hedge funds.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.