Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) has received an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, Marketbeat.com reports. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have issued a report on the stock in the last year is $34.83.
A number of equities analysts recently weighed in on BEP shares. Desjardins lifted their target price on shares of Brookfield Renewable Partners from $44.50 to $45.00 in a research note on Friday, May 3rd. Wells Fargo & Co reissued a “buy” rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a research note on Thursday, April 4th. ValuEngine raised shares of Brookfield Renewable Partners from a “hold” rating to a “buy” rating in a research note on Wednesday, March 6th. Zacks Investment Research raised shares of Brookfield Renewable Partners from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research note on Wednesday, May 8th. Finally, TheStreet raised shares of Brookfield Renewable Partners from a “d+” rating to a “c” rating in a research note on Monday, March 4th.
A number of hedge funds and other institutional investors have recently made changes to their positions in BEP. FIL Ltd raised its stake in Brookfield Renewable Partners by 96.1% during the first quarter. FIL Ltd now owns 1,871,967 shares of the utilities provider’s stock worth $59,674,000 after buying an additional 917,577 shares during the last quarter. Ronna Sue Cohen increased its stake in Brookfield Renewable Partners by 3,095.0% in the first quarter. Ronna Sue Cohen now owns 640,598 shares of the utilities provider’s stock valued at $641,000 after purchasing an additional 620,548 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Brookfield Renewable Partners by 566.7% in the first quarter. The Manufacturers Life Insurance Company now owns 496,108 shares of the utilities provider’s stock valued at $15,851,000 after purchasing an additional 421,694 shares in the last quarter. Toronto Dominion Bank increased its stake in Brookfield Renewable Partners by 10.8% in the fourth quarter. Toronto Dominion Bank now owns 2,764,898 shares of the utilities provider’s stock valued at $71,683,000 after purchasing an additional 269,877 shares in the last quarter. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp bought a new stake in Brookfield Renewable Partners in the first quarter valued at $9,290,000. 53.41% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:BEP traded up $0.18 during mid-day trading on Friday, reaching $33.63. 92,636 shares of the company’s stock were exchanged, compared to its average volume of 140,340. The firm has a market cap of $5.98 billion, a PE ratio of 258.69, a price-to-earnings-growth ratio of 10.21 and a beta of 0.48. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98. Brookfield Renewable Partners has a twelve month low of $24.51 and a twelve month high of $34.00.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Thursday, May 2nd. The utilities provider reported $0.14 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The business had revenue of $825.00 million for the quarter, compared to analyst estimates of $839.76 million. Brookfield Renewable Partners had a return on equity of 1.47% and a net margin of 7.20%. Sell-side analysts forecast that Brookfield Renewable Partners will post 0.47 EPS for the current year.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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