Brookfield Renewable Partners (NYSE:BEP) Price Target Raised to $45.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target hoisted by Royal Bank of Canada from $41.00 to $45.00 in a research report released on Tuesday, BayStreet.CA reports. Royal Bank of Canada currently has a sector perform rating on the utilities provider’s stock.

Several other research analysts also recently commented on the company. BMO Capital Markets set a $39.00 price objective on Brookfield Renewable Partners and gave the stock a hold rating in a report on Friday, September 27th. Barclays raised their price objective on Brookfield Renewable Partners from $41.00 to $45.00 and gave the stock an overweight rating in a report on Monday, September 30th. National Bank Financial raised their price objective 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. Credit Suisse Group downgraded Brookfield Renewable Partners from an outperform rating to a neutral rating in a report on Thursday, July 25th. Finally, TD Securities downgraded Brookfield Renewable Partners from a buy rating to a hold rating and raised their price objective for the stock from $43.00 to $45.00 in a report on Tuesday. Eight investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of Hold and an average price target of $42.11.

BEP traded up $0.39 during trading on Tuesday, hitting $44.82. 230,431 shares of the stock were exchanged, compared to its average volume of 211,106. The firm has a 50 day simple moving average of $42.01 and a 200 day simple moving average of $36.69. The firm has a market cap of $7.94 billion, a price-to-earnings ratio of 344.77 and a beta of 0.48. Brookfield Renewable Partners has a 1 year low of $24.51 and a 1 year high of $44.95. The company has a debt-to-equity ratio of 0.66, a quick ratio of 0.94 and a current ratio of 1.22.

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

Several large investors have recently made changes to their positions in BEP. CIBC Asset Management Inc increased its holdings in shares of Brookfield Renewable Partners by 54.8% in the 2nd quarter. CIBC Asset Management Inc now owns 1,639,689 shares of the utilities provider’s stock valued at $56,719,000 after acquiring an additional 580,157 shares during the period. Kayne Anderson Capital Advisors LP increased its holdings in shares of Brookfield Renewable Partners by 532.4% in the 2nd quarter. Kayne Anderson Capital Advisors LP now owns 577,400 shares of the utilities provider’s stock valued at $19,969,000 after acquiring an additional 486,100 shares during the period. CIBC Private Wealth Group LLC purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $15,761,000. Royal Bank of Canada increased its holdings in shares of Brookfield Renewable Partners by 2.5% in the 2nd quarter. Royal Bank of Canada now owns 8,295,423 shares of the utilities provider’s stock valued at $286,956,000 after acquiring an additional 204,510 shares during the period. Finally, Walnut Private Equity Partners LLC purchased a new position in shares of Brookfield Renewable Partners in the 3rd quarter valued at $3,001,000. Institutional investors and hedge funds own 54.47% 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, 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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