CIBC Raises Brookfield Renewable Partners (NYSE:BEP) Price Target to $40.00

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its target price boosted by equities research analysts at CIBC from $39.00 to $40.00 in a report released on Thursday,BayStreet.CA reports. The brokerage presently has an "outperform" rating on the utilities provider's stock. CIBC's price target suggests a potential upside of 76.68% from the company's current price.

Several other brokerages also recently commented on BEP. Royal Bank of Canada reaffirmed an "outperform" rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. JPMorgan Chase & Co. raised shares of Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 price objective for the company in a research note on Thursday, December 12th. StockNews.com downgraded shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research report on Thursday, December 26th. UBS Group upgraded shares of Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and boosted their price target for the company from $24.00 to $31.00 in a report on Monday, September 30th. Finally, National Bankshares decreased their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an "outperform" rating for the company in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $32.44.

Brookfield Renewable Partners Price Performance

Shares of NYSE BEP traded down $0.97 during midday trading on Thursday, reaching $22.64. The company's stock had a trading volume of 722,740 shares, compared to its average volume of 550,040. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56. The company has a market cap of $6.45 billion, a price-to-earnings ratio of -27.61 and a beta of 0.95. The company has a 50 day moving average price of $24.46 and a 200 day moving average price of $25.23. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93.

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

Institutional Investors Weigh In On Brookfield Renewable Partners

Several large investors have recently made changes to their positions in BEP. GAMMA Investing LLC raised its position in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock valued at $27,000 after acquiring an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at $28,000. Waverton Investment Management Ltd acquired a new stake in shares of Brookfield Renewable Partners in the 3rd quarter valued at $178,000. Barclays PLC lifted its stake in shares of Brookfield Renewable Partners by 40.6% in the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider's stock valued at $199,000 after purchasing an additional 2,036 shares during the last quarter. Finally, Creative Planning bought a new stake in Brookfield Renewable Partners in the third quarter worth $206,000. 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.