UBS Group Upgrades Brookfield Renewable Partners (NYSE:BEP) to Buy

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, Briefing.com reports. The firm presently has a $31.00 price target on the utilities provider’s stock, up from their previous price target of $24.00. UBS Group’s target price points to a potential upside of 9.54% from the stock’s current price.

A number of other equities research analysts have also weighed in on BEP. StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. JPMorgan Chase & Co. lifted their target price on shares of Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Scotiabank increased their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. National Bankshares boosted their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a research report on Friday, July 19th. Finally, Royal Bank of Canada reiterated an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Monday, August 5th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and a consensus target price of $32.50.

Brookfield Renewable Partners Trading Up 1.2 %

BEP opened at $28.30 on Monday. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. Brookfield Renewable Partners has a 52 week low of $19.92 and a 52 week high of $28.81. The stock has a market cap of $8.07 billion, a PE ratio of -61.52 and a beta of 0.93. The business has a 50 day moving average of $24.99 and a 200-day moving average of $24.83.

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

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently made changes to their positions in BEP. Scarborough Advisors LLC purchased a new stake in shares of Brookfield Renewable Partners during the fourth quarter valued at $30,000. Dixon Mitchell Investment Counsel Inc. bought a new position in shares of Brookfield Renewable Partners during the 1st quarter worth $31,000. Evermay Wealth Management LLC purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at $49,000. Clear Point Advisors Inc. bought a new stake in shares of Brookfield Renewable Partners in the first quarter valued at about $49,000. Finally, PNC Financial Services Group Inc. lifted its stake in Brookfield Renewable Partners by 17.9% in 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 during the period. Institutional investors own 63.16% of the company’s stock.

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.