Brookfield Renewable Partners’ (BEP) “Outperform” Rating Reiterated at Royal Bank of Canada

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP)‘s stock had its “outperform” rating reiterated by research analysts at Royal Bank of Canada in a report released on Wednesday, Benzinga reports. They currently have a $31.00 target price on the utilities provider’s stock. Royal Bank of Canada’s target price points to a potential upside of 18.73% from the company’s previous close.

A number of other brokerages have also recently issued reports on BEP. Scotiabank lifted their price target on shares of 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. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their target price for the company from $24.00 to $31.00 in a report on Monday, September 30th. National Bankshares upped their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. JPMorgan Chase & Co. lifted their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $32.50.

Brookfield Renewable Partners Stock Down 0.1 %

Shares of NYSE:BEP traded down $0.03 during trading on Wednesday, hitting $26.11. The stock had a trading volume of 25,975 shares, compared to its average volume of 474,153. The company has a market capitalization of $7.44 billion, a PE ratio of -56.76 and a beta of 0.94. The company has a quick ratio of 0.52, a current ratio of 0.52 and a debt-to-equity ratio of 0.91. The firm’s fifty day moving average is $25.41 and its 200 day moving average is $25.07. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its quarterly earnings data on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 23.0% compared to the same quarter last year. During the same quarter last year, the company posted ($0.10) EPS. Analysts anticipate that Brookfield Renewable Partners will post -0.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several institutional investors have recently modified their holdings of BEP. FIL Ltd boosted its holdings in shares of Brookfield Renewable Partners by 37.1% during the 4th quarter. FIL Ltd now owns 12,842,634 shares of the utilities provider’s stock valued at $337,385,000 after acquiring an additional 3,474,522 shares during the last quarter. Principal Financial Group Inc. boosted its holdings in Brookfield Renewable Partners by 0.9% in the second quarter. Principal Financial Group Inc. now owns 7,275,031 shares of the utilities provider’s stock worth $180,203,000 after purchasing an additional 66,794 shares during the last quarter. CIBC Asset Management Inc grew its position in Brookfield Renewable Partners by 0.6% in the 2nd quarter. CIBC Asset Management Inc now owns 6,915,814 shares of the utilities provider’s stock worth $171,010,000 after purchasing an additional 37,836 shares during the period. CCLA Investment Management raised its stake in Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after buying an additional 47,734 shares during the last quarter. Finally, TD Asset Management Inc lifted its holdings in shares of Brookfield Renewable Partners by 2.9% during the 2nd quarter. TD Asset Management Inc now owns 2,377,124 shares of the utilities provider’s stock valued at $58,805,000 after buying an additional 67,777 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.