Barclays initiated coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a research report released on Thursday morning, BenzingaRatingsTable reports. The firm issued an overweight rating and a $40.00 price objective on the utilities provider’s stock.
Other research analysts have also issued reports about the company. Raymond James reaffirmed a market perform rating and set a $31.00 target price on shares of Brookfield Renewable Partners in a report on Thursday, July 4th. Zacks Investment Research raised HB Fuller from a sell rating to a hold rating in a report on Wednesday, July 3rd. Desjardins lifted their target price on Stella-Jones from C$50.00 to C$54.00 in a report on Friday, May 3rd. Finally, Wells Fargo & Co reaffirmed a buy rating and set a $36.00 target price on shares of Brookfield Renewable Partners in a report on Thursday, April 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $35.57.
NYSE:BEP opened at $35.93 on Thursday. The business’s 50-day moving average price is $34.08. The firm has a market capitalization of $6.43 billion, a price-to-earnings ratio of 149.71, a P/E/G ratio of 10.92 and a beta of 0.51. Brookfield Renewable Partners has a 52-week low of $24.51 and a 52-week high of $36.51. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.57.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Thursday, May 2nd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.02). The firm had revenue of $825.00 million for the quarter, compared to analyst estimates of $839.76 million. Brookfield Renewable Partners had a return on equity of 1.47% and a net margin of 7.20%. On average, equities analysts anticipate that Brookfield Renewable Partners will post 0.47 earnings per share for the current fiscal year.
A number of institutional investors and hedge funds have recently modified their holdings of BEP. FIL Ltd increased its stake in Brookfield Renewable Partners by 96.1% in the 1st quarter. FIL Ltd now owns 1,871,967 shares of the utilities provider’s stock worth $59,674,000 after purchasing an additional 917,577 shares in the last quarter. Ronna Sue Cohen increased its stake in Brookfield Renewable Partners by 3,095.0% in the 1st quarter. Ronna Sue Cohen now owns 640,598 shares of the utilities provider’s stock worth $641,000 after purchasing an additional 620,548 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp purchased a new position in Brookfield Renewable Partners in the 1st quarter worth about $9,290,000. FMR LLC increased its stake in Brookfield Renewable Partners by 69.9% in the 4th quarter. FMR LLC now owns 338,291 shares of the utilities provider’s stock worth $8,760,000 after purchasing an additional 139,169 shares in the last quarter. Finally, Montrusco Bolton Investments Inc. increased its stake in Brookfield Renewable Partners by 7.7% in the 1st quarter. Montrusco Bolton Investments Inc. now owns 1,583,125 shares of the utilities provider’s stock worth $49,676,000 after purchasing an additional 113,625 shares in the last quarter. 53.40% of the stock is currently owned by hedge funds and other institutional investors.
About Brookfield Renewable Partners
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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