Canadian Imperial Bank of Commerce Issues Positive Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price lifted by investment analysts at Canadian Imperial Bank of Commerce from $37.00 to $40.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “outperformer” rating on the utilities provider’s stock. Canadian Imperial Bank of Commerce’s price target would suggest a potential upside of 15.69% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Wall Street Zen upgraded shares of Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Saturday, March 7th. Barclays set a $28.00 price target on shares of Brookfield Renewable Partners and gave the stock an “equal weight” rating in a research note on Friday, January 23rd. Mizuho set a $31.00 target price on shares of Brookfield Renewable Partners and gave the company a “neutral” rating in a research note on Monday, February 2nd. National Bank Financial raised their target price on shares of Brookfield Renewable Partners from $33.00 to $34.00 and gave the company an “outperform” rating in a research note on Monday, February 2nd. Finally, Morgan Stanley raised their target price on shares of Brookfield Renewable Partners from $38.00 to $42.00 and gave the company an “overweight” rating in a research note on Monday, March 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat, Brookfield Renewable Partners presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.93.

Brookfield Renewable Partners Stock Down 0.0%

Shares of BEP traded down $0.01 during mid-day trading on Monday, hitting $34.58. 236,303 shares of the company’s stock were exchanged, compared to its average volume of 692,353. The firm has a fifty day moving average of $32.04 and a two-hundred day moving average of $29.71. Brookfield Renewable Partners has a twelve month low of $21.15 and a twelve month high of $35.97. The stock has a market cap of $10.49 billion, a price-to-earnings ratio of -133.08 and a beta of 1.09. The company has a quick ratio of 0.57, a current ratio of 0.57 and a debt-to-equity ratio of 0.80.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings results on Friday, January 30th. The utilities provider reported $0.54 EPS for the quarter, topping the consensus estimate of ($0.34) by $0.88. Brookfield Renewable Partners had a net margin of 11.11% and a return on equity of 2.15%. The company had revenue of $1.54 billion for the quarter, compared to analyst estimates of $1.49 billion. On average, sell-side analysts forecast that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds have recently bought and sold shares of the stock. CENTRAL TRUST Co bought a new stake in Brookfield Renewable Partners in the 1st quarter valued at $55,000. Purpose Unlimited Inc. bought a new stake in Brookfield Renewable Partners in the 4th quarter valued at $12,576,000. Ovata Capital Management Ltd boosted its holdings in Brookfield Renewable Partners by 3.3% in the 4th quarter. Ovata Capital Management Ltd now owns 180,781 shares of the utilities provider’s stock valued at $4,876,000 after purchasing an additional 5,855 shares during the period. Ketron Financial bought a new stake in Brookfield Renewable Partners in the 4th quarter valued at $305,000. Finally, Mackenzie Financial Corp boosted its holdings in Brookfield Renewable Partners by 3.5% in the 4th quarter. Mackenzie Financial Corp now owns 48,359 shares of the utilities provider’s stock valued at $1,297,000 after purchasing an additional 1,623 shares during the period. 63.16% of the stock is owned by institutional investors.

Brookfield Renewable Partners Company Profile

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.