CIBC Lowers Brookfield Renewable Partners (NYSE:BEP) Price Target to $31.00

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price objective cut by research analysts at CIBC from $32.00 to $31.00 in a research report issued on Monday,Benzinga reports. The brokerage presently has an "outperformer" rating on the utilities provider's stock. CIBC's target price points to a potential upside of 38.33% from the company's current price.

A number of other research analysts have also weighed in on BEP. Scotiabank decreased their target price on Brookfield Renewable Partners from $32.00 to $28.00 and set an "outperform" rating on the stock in a report on Thursday, January 30th. JPMorgan Chase & Co. decreased their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. StockNews.com cut shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Thursday, December 26th. Wells Fargo & Company decreased their price target on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an "overweight" rating on the stock in a research note on Monday. Finally, National Bankshares reduced their price objective 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 analyst has rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Buy" and a consensus target price of $30.60.

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Brookfield Renewable Partners Stock Down 1.1 %

BEP traded down $0.24 during trading on Monday, reaching $22.41. 680,281 shares of the stock were exchanged, compared to its average volume of 1,021,043. The stock has a market cap of $6.39 billion, a P/E ratio of -25.18 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The stock's 50 day moving average price is $22.70 and its two-hundred day moving average price is $24.64. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter last year, the firm posted $0.01 EPS. Equities analysts expect that Brookfield Renewable Partners will post -0.76 EPS for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds have recently bought and sold shares of the company. GAMMA Investing LLC boosted its position in shares of Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock worth $27,000 after acquiring an additional 442 shares in the last quarter. Creative Planning acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $206,000. Aspiriant LLC bought a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $241,000. Sequoia Financial Advisors LLC acquired a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth $6,191,000. Finally, Private Advisor Group LLC lifted its position in shares of Brookfield Renewable Partners by 47.8% during the 3rd quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider's stock worth $917,000 after buying an additional 10,521 shares during the last quarter. 63.16% of the stock is owned by institutional investors.

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.