Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) had its price objective dropped by equities research analysts at Raymond James Financial, Inc. from $35.00 to $33.00 in a research note issued to investors on Tuesday. The brokerage presently has a “market perform” rating on the utilities provider’s stock. Raymond James Financial, Inc.’s price target would suggest a potential downside of 5.71% from the company’s previous close.

Other research analysts have also issued reports about the stock. GMP Securities reiterated a “buy” rating and issued a $32.00 target price on shares of Brookfield Renewable Partners L.P. in a research report on Friday, May 5th. TD Securities reiterated a “buy” rating and issued a $45.00 target price on shares of Brookfield Renewable Partners L.P. in a research report on Thursday, May 4th. Zacks Investment Research upgraded shares of Brookfield Renewable Partners L.P. from a “hold” rating to a “buy” rating and set a $36.00 target price for the company in a research report on Tuesday, July 4th. TheStreet upgraded shares of Brookfield Renewable Partners L.P. from a “d+” rating to a “c-” rating in a research report on Tuesday, June 27th. Finally, Barclays PLC reiterated an “equal weight” rating and issued a $32.00 target price (down from $33.00) on shares of Brookfield Renewable Partners L.P. in a research report on Sunday, April 23rd. Nine equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Brookfield Renewable Partners L.P. presently has an average rating of “Hold” and a consensus price target of $34.75.

Shares of Brookfield Renewable Partners L.P. (NYSE BEP) traded down 3.37% during midday trading on Tuesday, hitting $33.82. The company’s stock had a trading volume of 138,057 shares. The firm’s market cap is $10.03 billion. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $34.38. The stock’s 50 day moving average is $32.88 and its 200-day moving average is $30.87.

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

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A number of hedge funds have recently bought and sold shares of the stock. Bank of Montreal Can raised its stake in Brookfield Renewable Partners L.P. by 11.4% in the first quarter. Bank of Montreal Can now owns 4,496,989 shares of the utilities provider’s stock valued at $133,696,000 after buying an additional 459,698 shares during the last quarter. Hexavest Inc. raised its stake in Brookfield Renewable Partners L.P. by 8.3% in the first quarter. Hexavest Inc. now owns 334,740 shares of the utilities provider’s stock valued at $9,889,000 after buying an additional 25,708 shares during the last quarter. Karpas Strategies LLC raised its stake in Brookfield Renewable Partners L.P. by 0.8% in the first quarter. Karpas Strategies LLC now owns 115,725 shares of the utilities provider’s stock valued at $3,441,000 after buying an additional 900 shares during the last quarter. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners L.P. by 5.6% in the first quarter. Principal Financial Group Inc. now owns 2,249,697 shares of the utilities provider’s stock valued at $66,883,000 after buying an additional 119,318 shares during the last quarter. Finally, FMR LLC raised its stake in Brookfield Renewable Partners L.P. by 2.9% in the first quarter. FMR LLC now owns 1,185,800 shares of the utilities provider’s stock valued at $35,132,000 after buying an additional 33,000 shares during the last quarter. Institutional investors and hedge funds own 54.24% of the company’s stock.

About Brookfield Renewable Partners L.P.

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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