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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target lowered by CIBC from $32.00 to $31.00 in a report issued on Monday,Benzinga reports. The firm presently has an “outperformer” rating on the utilities provider’s stock. CIBC’s price target would suggest a potential upside of 46.43% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. National Bankshares decreased their price objective on 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 cut shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. JPMorgan Chase & Co. lowered 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. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research report on Monday. Finally, Wells Fargo & Company reduced their target price on shares of Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating for the company in a research note on Monday. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $30.60.

Brookfield Renewable Partners Stock Down 3.3 %

Shares of NYSE:BEP traded down $0.72 during midday trading on Monday, hitting $21.17. 1,320,049 shares of the stock were exchanged, compared to its average volume of 1,060,354. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. The company has a market capitalization of $6.04 billion, a PE ratio of -23.81 and a beta of 0.95. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The business’s fifty day simple moving average is $23.03 and its two-hundred day simple moving average is $24.71.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, January 31st. The utilities provider reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.22) by $0.16. Brookfield Renewable Partners had a negative net margin of 0.15% and a negative return on equity of 0.03%. During the same quarter in the prior year, the business earned $0.01 EPS. As a group, research analysts predict that Brookfield Renewable Partners will post -0.76 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in 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 in the third quarter valued at $28,000. Allworth Financial LP bought a new stake in Brookfield Renewable Partners in the fourth quarter valued at $68,000. Waverton Investment Management Ltd bought a new stake in Brookfield Renewable Partners in the third quarter valued at $178,000. Finally, Barclays PLC increased its position in shares of Brookfield Renewable Partners by 40.6% during the third quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock worth $199,000 after acquiring an additional 2,036 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

About Brookfield Renewable Partners

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.