Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) had its target price increased by analysts at Royal Bank Of Canada from $32.00 to $35.00 in a research note issued on Tuesday. The brokerage presently has a “sector perform” rating on the utilities provider’s stock.

BEP has been the subject of a number of other reports. Macquarie cut Brookfield Renewable Partners L.P. from an “outperform” rating to a “neutral” rating in a research note on Wednesday, June 28th. ValuEngine raised Brookfield Renewable Partners L.P. from a “sell” rating to a “hold” rating in a research report on Thursday, June 8th. TD Securities reaffirmed a “buy” rating and set a $45.00 price objective on shares of Brookfield Renewable Partners L.P. in a research report on Thursday, May 4th. BMO Capital Markets reaffirmed a “hold” rating and set a $33.00 price objective on shares of Brookfield Renewable Partners L.P. in a research report on Wednesday, July 12th. Finally, GMP Securities reaffirmed a “buy” rating and set a $32.00 price objective on shares of Brookfield Renewable Partners L.P. in a research report on Friday, May 5th. Nine research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. Brookfield Renewable Partners L.P. currently has an average rating of “Hold” and a consensus target price of $34.75.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded down 3.37% during midday trading on Tuesday, reaching $33.82. The company’s stock had a trading volume of 138,057 shares. The company’s market cap is $10.03 billion. The stock has a 50-day moving average of $32.88 and a 200 day moving average of $30.87. Brookfield Renewable Partners L.P. has a 12 month low of $26.61 and a 12 month high of $34.38.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, August 4th. The utilities provider reported $0.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a return on equity of 0.75% and a net margin of 2.82%. The firm had revenue of $683 million during the quarter, compared to analysts’ expectations of $721.75 million. On average, analysts predict that Brookfield Renewable Partners L.P. will post $0.17 earnings per share for the current fiscal year.

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Hedge funds and other institutional investors have recently modified their holdings of the stock. Global X Management Co. LLC boosted its position in shares of Brookfield Renewable Partners L.P. by 10.0% in the second quarter. Global X Management Co. LLC now owns 316,513 shares of the utilities provider’s stock valued at $10,109,000 after buying an additional 28,773 shares during the period. American Assets Capital Advisers bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter valued at approximately $10,520,000. Bowen Hanes & Co. Inc. boosted its position in shares of Brookfield Renewable Partners L.P. by 0.4% in the second quarter. Bowen Hanes & Co. Inc. now owns 268,495 shares of the utilities provider’s stock valued at $8,576,000 after buying an additional 1,000 shares during the period. Chicago Partners Investment Group LLC bought a new position in shares of Brookfield Renewable Partners L.P. during the second quarter valued at approximately $259,000. Finally, First Manhattan Co. boosted its position in shares of Brookfield Renewable Partners L.P. by 3.0% in the second quarter. First Manhattan Co. now owns 564,697 shares of the utilities provider’s stock valued at $17,979,000 after buying an additional 16,522 shares during the period. 54.24% of the stock is owned by hedge funds and other institutional investors.

Brookfield Renewable Partners L.P. Company Profile

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners L.P. (NYSE:BEP)

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