Brookfield Renewable Partners (NYSE:BEP) Price Target Cut to $32.00 by Analysts at CIBC

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price target cut by equities research analysts at CIBC from $34.00 to $32.00 in a note issued to investors on Wednesday, MarketBeat Ratings reports. The brokerage presently has an "outperformer" rating on the utilities provider's stock. CIBC's price objective would indicate a potential upside of 41.34% from the stock's previous close.

Several other research firms have also issued reports on BEP. JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a "neutral" rating to an "overweight" rating and set a $30.00 target price on the stock in a report on Thursday, December 12th. Royal Bank of Canada restated an "outperform" rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a research report on Wednesday, October 9th. 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. UBS Group upgraded Brookfield Renewable Partners from a "neutral" rating to a "buy" rating and increased their price target for the stock from $24.00 to $31.00 in a report on Monday, September 30th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a "hold" rating to a "sell" rating in a research note on Thursday, December 26th. One equities research analyst has rated the stock with a sell rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $31.56.

Brookfield Renewable Partners Trading Down 4.1 %

Brookfield Renewable Partners stock traded down $0.97 during trading hours on Wednesday, hitting $22.64. The stock had a trading volume of 722,600 shares, compared to its average volume of 546,720. The business's 50 day simple moving average is $24.59 and its 200-day simple moving average is $25.27. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56. The stock 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 quick ratio of 0.73, a current 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 earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing analysts' consensus estimates of ($0.04) by ($0.28). The business had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same period in the previous year, the firm earned ($0.14) earnings per share. On average, equities analysts predict that Brookfield Renewable Partners will post -0.88 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently made changes to their positions in the business. Stifel Financial Corp increased its holdings in Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider's stock worth $880,000 after purchasing an additional 403 shares in the last quarter. GAMMA Investing LLC grew its holdings in Brookfield Renewable Partners by 86.5% during the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider's stock worth $27,000 after buying an additional 442 shares in the last quarter. HighTower Advisors LLC raised its position in Brookfield Renewable Partners by 1.6% in the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider's stock valued at $1,321,000 after buying an additional 749 shares during the last quarter. Apollon Wealth Management LLC lifted its stake in Brookfield Renewable Partners by 7.2% during the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider's stock valued at $394,000 after acquiring an additional 945 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Brookfield Renewable Partners during the 3rd quarter worth $28,000. Institutional investors and hedge funds 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.