Brookfield Renewable Partners (NYSE:BEP) Upgraded at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP was upgraded by JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Thursday, MarketBeat Ratings reports. The brokerage currently has a $30.00 price target on the utilities provider's stock. JPMorgan Chase & Co.'s target price would indicate a potential upside of 25.89% from the stock's previous close.

A number of other analysts also recently commented on BEP. StockNews.com raised Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a research note on Monday. CIBC boosted their price objective on Brookfield Renewable Partners from $33.00 to $34.00 and gave the stock an "outperformer" rating in a research note on Tuesday, October 22nd. Royal Bank of Canada reissued an "outperform" rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, UBS Group raised Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and boosted their price objective for the stock from $24.00 to $31.00 in a research note on Monday, September 30th. One research analyst has rated the stock with a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Buy" and a consensus target price of $31.89.

Brookfield Renewable Partners Stock Performance

BEP stock traded down $0.25 during trading on Thursday, reaching $23.83. 572,406 shares of the company's stock were exchanged, compared to its average volume of 486,779. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a 1-year low of $19.92 and a 1-year high of $29.56. The company's fifty day moving average price is $26.06 and its 200-day moving average price is $25.71. The firm has a market cap of $6.79 billion, a PE ratio of -29.40 and a beta of 0.93.

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Cetera Advisors LLC acquired a new position in Brookfield Renewable Partners in the 1st quarter valued at approximately $243,000. SeaCrest Wealth Management LLC acquired a new position in shares of Brookfield Renewable Partners in the 2nd quarter worth approximately $491,000. Liontrust Investment Partners LLP bought a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $14,862,000. Gold Investment Management Ltd. grew its position in Brookfield Renewable Partners by 2.1% during the 2nd quarter. Gold Investment Management Ltd. now owns 79,636 shares of the utilities provider's stock worth $1,970,000 after acquiring an additional 1,610 shares during the last quarter. Finally, HB Wealth Management LLC bought a new stake in Brookfield Renewable Partners during the 2nd quarter worth approximately $941,000. 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.