Scotiabank Issues Pessimistic Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price target cut by analysts at Scotiabank from $32.00 to $28.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the utilities provider's stock. Scotiabank's price objective points to a potential upside of 27.87% from the company's current price.

Several other equities analysts have also recently weighed in on BEP. StockNews.com cut Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a report on Thursday, December 26th. JPMorgan Chase & Co. reduced their price target 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. Royal Bank of Canada restated an "outperform" rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. CIBC boosted their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an "outperform" rating in a research report on Thursday, January 9th. Finally, National Bankshares lowered their target price on 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 investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $31.78.

Brookfield Renewable Partners Trading Up 5.8 %

BEP traded up $1.20 during mid-day trading on Thursday, hitting $21.90. The stock had a trading volume of 1,682,281 shares, compared to its average volume of 1,050,290. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The firm has a market capitalization of $6.24 billion, a price-to-earnings ratio of -26.70 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.73 and a quick ratio of 0.73. The stock's fifty day simple moving average is $23.09 and its 200-day simple moving average is $24.75.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last issued its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the prior year, the firm posted $0.01 EPS. As a group, research analysts forecast that Brookfield Renewable Partners will post -1.2 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its position in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 442 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in Brookfield Renewable Partners in the 3rd quarter valued at about $28,000. Allworth Financial LP acquired a new position in Brookfield Renewable Partners during the fourth quarter worth approximately $68,000. Waverton Investment Management Ltd bought a new stake in Brookfield Renewable Partners in the third quarter valued at approximately $178,000. Finally, Barclays PLC raised its stake in Brookfield Renewable Partners by 40.6% in the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock valued at $199,000 after buying an additional 2,036 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

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.