JPMorgan Chase & Co. Lowers Brookfield Renewable Partners (NYSE:BEP) Price Target to $28.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective lowered by JPMorgan Chase & Co. from $30.00 to $28.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 30.87% from the company’s current price.

Several other brokerages have also recently commented on BEP. StockNews.com cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. UBS Group raised 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. CIBC lifted their target price on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. Finally, National Bankshares cut 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 report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Stock Performance

Shares of NYSE BEP opened at $21.40 on Thursday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company has a 50 day simple moving average of $23.52 and a two-hundred day simple moving average of $24.93. The stock has a market cap of $6.10 billion, a price-to-earnings ratio of -26.09 and a beta of 0.95.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BEP. APG Asset Management N.V. boosted its position in shares of Brookfield Renewable Partners by 0.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after acquiring an additional 5,388 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Brookfield Renewable Partners by 0.5% in the second quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock valued at $6,988,000 after buying an additional 1,333 shares during the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in Brookfield Renewable Partners in the second quarter valued at about $359,000. GAMMA Investing LLC lifted its position in Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares during the last quarter. Finally, Creative Planning acquired a new position in Brookfield Renewable Partners in the third quarter valued at 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.