National Bankshares Has Lowered Expectations for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP had its price target reduced by equities research analysts at National Bankshares from $32.00 to $30.00 in a research report issued to clients and investors on Tuesday,BayStreet.CA reports. The brokerage currently has an "outperform" rating on the utilities provider's stock. National Bankshares' price target indicates a potential upside of 34.09% from the company's previous close.

Several other research firms have also commented on BEP. StockNews.com raised Brookfield Renewable Partners from a "sell" rating to a "hold" rating in a research report on Monday, February 3rd. Scotiabank dropped their price objective 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. 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 Monday, February 3rd. CIBC dropped their price objective on Brookfield Renewable Partners from $32.00 to $31.00 and set an "outperformer" rating on the stock in a report on Monday, February 3rd. Finally, JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an "overweight" rating on the stock in a report on Thursday, January 23rd. One equities research analyst has rated the stock with a hold rating, eight have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of "Buy" and an average price target of $30.50.

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Brookfield Renewable Partners Stock Down 0.1 %

Brookfield Renewable Partners stock traded down $0.03 during midday trading on Tuesday, hitting $22.37. 764,471 shares of the company were exchanged, compared to its average volume of 1,104,736. The company's fifty day moving average price is $22.38 and its 200-day moving average price is $24.56. The company has a market cap of $6.38 billion, a PE ratio of -25.14 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.25 and a quick ratio of 0.73. Brookfield Renewable Partners has a fifty-two week low of $19.92 and a fifty-two week high of $29.56.

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) TSE: BEP last released its quarterly earnings results 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 negative return on equity of 0.03% and a negative net margin of 0.15%. During the same quarter last year, the firm posted $0.01 EPS. On average, research analysts predict that Brookfield Renewable Partners will post -0.99 EPS for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently modified their holdings of the stock. CCLA Investment Management raised its position in shares of Brookfield Renewable Partners by 1.9% during the fourth quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider's stock worth $59,838,000 after purchasing an additional 49,553 shares during the period. Abel Hall LLC acquired a new position in Brookfield Renewable Partners during the fourth quarter valued at $456,000. Intact Investment Management Inc. acquired a new position in Brookfield Renewable Partners during the third quarter valued at $42,331,000. MAI Capital Management raised its position in Brookfield Renewable Partners by 294.2% during the third quarter. MAI Capital Management now owns 86,683 shares of the utilities provider's stock valued at $2,443,000 after buying an additional 64,695 shares during the period. Finally, Mirabella Financial Services LLP raised its position in Brookfield Renewable Partners by 145.2% during the third quarter. Mirabella Financial Services LLP now owns 466,736 shares of the utilities provider's stock valued at $13,153,000 after buying an additional 276,374 shares during the period. 63.16% of the stock is owned by institutional investors and hedge funds.

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.