Brookfield Renewable Partners’ (BEP) “Market Perform” Rating Reaffirmed at Raymond James

Raymond James reiterated their market perform rating on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report issued on Tuesday morning, BayStreet.CA reports. They currently have a $40.00 price target on the utilities provider’s stock.

Several other brokerages have also recently commented on BEP. BMO Capital Markets set a $39.00 target price on Brookfield Renewable Partners and gave the stock a hold rating in a report on Friday, September 27th. Barclays boosted their target price on Brookfield Renewable Partners from $41.00 to $45.00 and gave the stock an overweight rating in a report on Monday, September 30th. Royal Bank of Canada boosted their target price on Brookfield Renewable Partners from $37.00 to $39.00 and gave the stock a sector perform rating in a report on Monday, September 30th. ValuEngine cut Brookfield Renewable Partners from a buy rating to a hold rating in a report on Wednesday, October 2nd. Finally, Credit Suisse Group cut Brookfield Renewable Partners from an outperform rating to a neutral rating in a report on Thursday, July 25th. Eight analysts have rated the stock with a hold rating and two have given a buy rating to the company. The stock has an average rating of Hold and an average price target of $42.11.

Shares of BEP traded up $0.39 during mid-day trading on Tuesday, reaching $44.82. 230,431 shares of the company’s stock traded hands, compared to its average volume of 211,106. The business’s 50-day moving average price is $42.01 and its 200-day moving average price is $36.69. The stock has a market capitalization of $7.94 billion, a P/E ratio of 344.77 and a beta of 0.48. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22. Brookfield Renewable Partners has a 12 month low of $24.51 and a 12 month high of $44.95.

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Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings results on Monday, November 11th. The utilities provider reported ($0.17) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.01 by ($0.18). The business had revenue of $642.00 million for the quarter. Brookfield Renewable Partners had a net margin of 9.26% and a return on equity of 1.72%.

A number of large investors have recently made changes to their positions in the stock. AE Wealth Management LLC raised its holdings in Brookfield Renewable Partners by 1.7% during the third quarter. AE Wealth Management LLC now owns 18,728 shares of the utilities provider’s stock worth $761,000 after purchasing an additional 306 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Brookfield Renewable Partners by 56.5% in the second quarter. Oppenheimer Asset Management Inc. now owns 1,097 shares of the utilities provider’s stock worth $38,000 after buying an additional 396 shares during the last quarter. Northern Trust Corp grew its position in Brookfield Renewable Partners by 1.1% in the second quarter. Northern Trust Corp now owns 49,751 shares of the utilities provider’s stock worth $1,721,000 after buying an additional 559 shares during the last quarter. Usca Ria LLC acquired a new position in Brookfield Renewable Partners in the third quarter worth approximately $30,000. Finally, Coastal Investment Advisors Inc. acquired a new position in Brookfield Renewable Partners in the third quarter worth approximately $32,000. 54.47% of the stock is currently owned by hedge funds and other 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.

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Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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