Scotiabank Has Lowered Expectations for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price dropped by Scotiabank from $32.00 to $28.00 in a research note issued to investors on Thursday,BayStreet.CA reports. The brokerage presently has an “outperform” rating on the utilities provider’s stock. Scotiabank’s price target indicates a potential upside of 33.55% from the company’s current price.

Other equities analysts also recently issued research reports about the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. JPMorgan Chase & Co. cut their price objective on shares of Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 23rd. National Bankshares cut their price objective on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Finally, CIBC raised their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a sell rating, eight have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, Brookfield Renewable Partners has an average rating of “Moderate Buy” and a consensus target price of $31.78.

Brookfield Renewable Partners Stock Performance

NYSE BEP traded up $0.32 during trading hours on Thursday, reaching $20.97. 177,766 shares of the company were exchanged, compared to its average volume of 974,218. The stock has a market capitalization of $5.98 billion, a P/E ratio of -25.57 and a beta of 0.95. 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 business’s 50 day simple moving average is $23.19 and its 200-day simple moving average is $24.78. Brookfield Renewable Partners has a 1 year low of $19.92 and a 1 year high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share for the quarter, missing the consensus estimate of ($0.04) by ($0.28). The business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $843.18 million. Brookfield Renewable Partners had a return on equity of 0.24% and a net margin of 1.16%. During the same quarter in the previous year, the business earned ($0.14) EPS. On average, equities research analysts expect that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds have recently bought and sold shares of the stock. GAMMA Investing LLC lifted its holdings in shares of Brookfield Renewable Partners by 86.5% in the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 442 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $28,000. Waverton Investment Management Ltd bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $178,000. Barclays PLC lifted its holdings in shares of Brookfield Renewable Partners by 40.6% in the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares during the last quarter. Finally, Creative Planning bought a new stake in shares of Brookfield Renewable Partners in the 3rd quarter worth approximately $206,000. 63.16% of the stock is currently owned by 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, 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.