Brookfield Renewable Partners (NYSE:BEP) Given New $27.00 Price Target at Wells Fargo & Company

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price lowered by analysts at Wells Fargo & Company from $29.00 to $27.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “overweight” rating on the utilities provider’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 18.16% from the company’s current price.

Several other brokerages have also recently commented on BEP. CIBC decreased their price target on shares of Brookfield Renewable Partners from $32.00 to $31.00 and set an “outperformer” rating on the stock in a research note on Monday, February 3rd. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Tuesday, February 25th. Scotiabank lifted their price objective on Brookfield Renewable Partners from $28.00 to $29.00 and gave the stock an “outperform” rating in a research note on Thursday, February 13th. National Bankshares decreased their price objective on Brookfield Renewable Partners from $32.00 to $30.00 and set an “outperform” rating on the stock in a report on Tuesday, February 11th. Finally, JPMorgan Chase & Co. cut their target price on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. One analyst has rated the stock with a sell rating, one has issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $29.80.

Brookfield Renewable Partners Stock Down 1.5 %

BEP opened at $22.85 on Monday. The stock has a market cap of $6.49 billion, a price-to-earnings ratio of -25.67 and a beta of 0.99. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25. The firm’s fifty day moving average is $22.30 and its 200 day moving average is $23.30. Brookfield Renewable Partners has a fifty-two week low of $19.29 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, May 2nd. The utilities provider reported ($0.35) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.26) by ($0.09). Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. The business had revenue of $907.00 million for the quarter, compared to the consensus estimate of $1.73 billion. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Golden State Wealth Management LLC grew its holdings in Brookfield Renewable Partners by 103.6% during the 1st quarter. Golden State Wealth Management LLC now owns 1,138 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 579 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $28,000. Promus Capital LLC bought a new position in shares of Brookfield Renewable Partners during the fourth quarter valued at approximately $37,000. Rossby Financial LCC purchased a new stake in shares of Brookfield Renewable Partners in the first quarter worth approximately $41,000. Finally, NBC Securities Inc. bought a new stake in shares of Brookfield Renewable Partners during the 1st quarter worth approximately $42,000. Hedge funds and other 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.