Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $40.00 at CIBC

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price raised by equities researchers at CIBC from $39.00 to $40.00 in a report released on Thursday,BayStreet.CA reports. The firm currently has an “outperform” rating on the utilities provider’s stock. CIBC’s price objective would indicate a potential upside of 76.83% from the company’s current price.

A number of other research analysts have also issued reports on BEP. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target for the company in a report on Thursday, December 12th. 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 Wednesday, October 9th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, National Bankshares decreased their target price on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has an average rating of “Moderate Buy” and a consensus price target of $32.44.

Brookfield Renewable Partners Stock Down 0.0 %

Shares of NYSE:BEP opened at $22.62 on Thursday. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The company’s fifty day moving average is $24.41 and its two-hundred day moving average is $25.21. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The stock has a market capitalization of $6.45 billion, a price-to-earnings ratio of -27.59 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. The business had revenue of $1.47 billion for the quarter, compared to analyst estimates of $843.18 million. During the same quarter last year, the company earned ($0.14) EPS. Equities analysts anticipate that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BEP. GAMMA Investing LLC boosted its stake in 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 purchasing an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners in the third quarter valued at $28,000. Waverton Investment Management Ltd bought a new position in Brookfield Renewable Partners during the third quarter valued at about $178,000. Barclays PLC grew its holdings in Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares during the period. Finally, Creative Planning bought a new stake in Brookfield Renewable Partners in the third quarter worth about $206,000. Institutional investors and hedge funds 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.