Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $31.00 at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price lifted by stock analysts at JPMorgan Chase & Co. from $30.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The brokerage presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 12.08% from the company’s current price.

BEP has been the topic of several other research reports. National Bankshares lifted their price objective on shares of Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. TD Securities lifted their price target on shares of Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research report on Wednesday, May 29th. Scotiabank increased their price objective on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a research report on Wednesday, June 12th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. Finally, StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.90.

Brookfield Renewable Partners Price Performance

NYSE:BEP traded up $0.40 during midday trading on Wednesday, hitting $27.66. 166,274 shares of the stock were exchanged, compared to its average volume of 480,081. The business has a 50-day moving average price of $24.78 and a two-hundred day moving average price of $24.73. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $7.88 billion, a price-to-earnings ratio of -60.19 and a beta of 0.93. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to analyst estimates of $1.49 billion. Brookfield Renewable Partners had a net margin of 2.37% and a return on equity of 0.46%. The company’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter last year, the company earned ($0.10) EPS. Sell-side analysts predict that Brookfield Renewable Partners will post -0.57 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its stake in Brookfield Renewable Partners by 8.6% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 9,443 shares of the utilities provider’s stock valued at $248,000 after buying an additional 750 shares during the period. Clearbridge Investments LLC increased its stake in shares of Brookfield Renewable Partners by 0.9% in the first quarter. Clearbridge Investments LLC now owns 86,830 shares of the utilities provider’s stock worth $2,017,000 after acquiring an additional 768 shares during the last quarter. Tidal Investments LLC raised its holdings in shares of Brookfield Renewable Partners by 2.5% during the first quarter. Tidal Investments LLC now owns 37,258 shares of the utilities provider’s stock worth $866,000 after acquiring an additional 894 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Brookfield Renewable Partners by 17.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after acquiring an additional 900 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in Brookfield Renewable Partners by 1.4% during the fourth quarter. Franklin Resources Inc. now owns 82,262 shares of the utilities provider’s stock valued at $2,162,000 after purchasing an additional 1,126 shares during the last quarter. 63.16% of the stock is owned by hedge funds and other 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.