CIBC Cuts Brookfield Renewable Partners (NYSE:BEP) Price Target to $31.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target dropped by equities researchers at CIBC from $32.00 to $31.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “outperformer” rating on the utilities provider’s stock. CIBC’s target price would suggest a potential upside of 43.35% from the company’s current price.

A number of other equities analysts have also commented on the stock. National Bankshares cut their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. JPMorgan Chase & Co. lowered their price target on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday, January 23rd. Wells Fargo & Company decreased their price objective on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research report on Monday. Finally, Scotiabank cut their price target on shares of Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. 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. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $30.60.

Brookfield Renewable Partners Trading Up 3.3 %

NYSE BEP opened at $21.63 on Monday. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56. The business’s fifty day moving average is $22.93 and its 200 day moving average is $24.69. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 0.93. The company has a market cap of $6.17 billion, a price-to-earnings ratio of -24.30 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, beating 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 period in the prior year, the company earned $0.01 earnings per share. As a group, sell-side analysts expect that Brookfield Renewable Partners will post -0.76 EPS for the current fiscal year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its stake in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock valued at $27,000 after buying an additional 442 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $28,000. Allworth Financial LP bought a new position in shares of Brookfield Renewable Partners in the fourth quarter valued at approximately $68,000. Waverton Investment Management Ltd purchased a new position in shares of Brookfield Renewable Partners during the third quarter valued at approximately $178,000. Finally, Barclays PLC raised its position in 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 buying an additional 2,036 shares during the last quarter. 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.