Brookfield Renewable Partners L.P. (BEP) – What Are Brokerages Saying About This Stock?

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) have received an average recommendation of “Moderate Buy” from the thirteen brokerages that are covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating on the company. The average 1 year price target among analysts that have covered the stock in the last year is $36.73.

Several analysts have weighed in on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, September 21st. JPMorgan Chase & Co. dropped their price target on Brookfield Renewable Partners from $36.00 to $32.00 and set a “neutral” rating for the company in a research report on Monday, October 19th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $41.00 price target on shares of Brookfield Renewable Partners in a research note on Friday, July 17th. National Bank Financial set a $38.00 price objective on shares of Brookfield Renewable Partners and gave the stock an “outperform” rating in a research report on Thursday, October 1st. Finally, BMO Capital Markets set a $41.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday, August 17th.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Diversify Advisory Services LLC lifted its holdings in shares of Brookfield Renewable Partners by 1.9% in the third quarter. Diversify Advisory Services LLC now owns 27,068 shares of the utilities provider’s stock valued at $776,000 after purchasing an additional 502 shares in the last quarter. Kelleher Financial Advisors grew its position in shares of Brookfield Renewable Partners by 54.1% in the third quarter. Kelleher Financial Advisors now owns 1,561 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 548 shares during the last quarter. Apollon Wealth Management LLC increased its stake in shares of Brookfield Renewable Partners by 3.3% during the 3rd quarter. Apollon Wealth Management LLC now owns 17,928 shares of the utilities provider’s stock worth $504,000 after purchasing an additional 574 shares in the last quarter. GAMMA Investing LLC increased its stake in shares of Brookfield Renewable Partners by 44.5% during the 3rd quarter. GAMMA Investing LLC now owns 2,460 shares of the utilities provider’s stock worth $69,000 after purchasing an additional 757 shares in the last quarter. Finally, Kestra Advisory Services LLC increased its stake in shares of Brookfield Renewable Partners by 9.6% during the 3rd quarter. Kestra Advisory Services LLC now owns 9,944 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 871 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Price Performance

Shares of NYSE:BEP opened at $30.07 on Wednesday. The business’s 50 day simple moving average is $29.44 and its 200-day simple moving average is $32.11. The firm has a market capitalization of $9.11 billion, a price-to-earnings ratio of -40.10 and a beta of 1.08. The company has a debt-to-equity ratio of 0.93, a current ratio of 0.78 and a quick ratio of 0.78. Brookfield Renewable Partners has a 12 month low of $26.30 and a 12 month high of $38.12.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Wednesday, November 4th. The utilities provider reported ($0.52) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.50) by ($0.02). The firm had revenue of $1.78 billion for the quarter, compared to analyst estimates of $1.46 billion. Brookfield Renewable Partners had a negative return on equity of 0.33% and a negative net margin of 1.77%. As a group, equities analysts forecast that Brookfield Renewable Partners will post -1.88 earnings per share for the current fiscal year.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns and operates a global portfolio of renewable power and sustainable energy assets. Its operations include hydroelectric, wind and solar generation, as well as battery storage and distributed energy businesses. The partnership serves markets across North America, South America, Europe and the Asia-Pacific region. It sells renewable electricity and related services to utilities, businesses and other customers. Brookfield Renewable traces its roots to Brookfield Asset Management’s renewable power business and operates as part of the Brookfield group.