Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) had its target price lowered by analysts at Raymond James Financial, Inc. to $42.00 in a research report issued to clients and investors on Thursday. The brokerage presently has a “market perform” rating on the utilities provider’s stock. Raymond James Financial, Inc.’s price objective would suggest a potential upside of 21.70% from the stock’s current price.

A number of other equities research analysts have also issued reports on BEP. Barclays PLC reaffirmed an “equal weight” rating and issued a $32.00 price target (down previously from $33.00) on shares of Brookfield Renewable Partners L.P. in a research report on Sunday, April 23rd. TD Securities reaffirmed a “buy” rating and issued a $45.00 price target on shares of Brookfield Renewable Partners L.P. in a research report on Thursday, May 4th. GMP Securities reaffirmed a “buy” rating and issued a $32.00 price target on shares of Brookfield Renewable Partners L.P. in a research report on Friday, May 5th. Wells Fargo & Company initiated coverage on Brookfield Renewable Partners L.P. in a research report on Tuesday, May 9th. They issued an “outperform” rating on the stock. Finally, Zacks Investment Research lowered Brookfield Renewable Partners L.P. from a “hold” rating to a “sell” rating in a research report on Tuesday, May 9th. Ten equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $36.56.

Brookfield Renewable Partners L.P. (NYSE:BEP) traded up 0.47% during mid-day trading on Thursday, hitting $34.51. The company had a trading volume of 33,898 shares. Brookfield Renewable Partners L.P. has a 52-week low of $26.61 and a 52-week high of $35.00. The company has a market capitalization of $10.24 billion, a P/E ratio of 11503.33 and a beta of 0.25. The company has a 50-day moving average price of $33.18 and a 200 day moving average price of $31.21.

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, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. Brookfield Renewable Partners L.P. had a return on equity of 0.76% and a net margin of 2.82%. The firm had revenue of $683 million for the quarter, compared to analyst estimates of $721.75 million. On average, analysts forecast that Brookfield Renewable Partners L.P. will post $0.11 EPS for the current fiscal year.

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Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its position 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 worth $66,883,000 after buying an additional 119,318 shares during the last quarter. Hexavest Inc. increased its position in Brookfield Renewable Partners L.P. by 1.1% in the second quarter. Hexavest Inc. now owns 338,455 shares of the utilities provider’s stock worth $10,776,000 after buying an additional 3,715 shares during the last quarter. Mackenzie Financial Corp increased its position in Brookfield Renewable Partners L.P. by 1.0% in the first quarter. Mackenzie Financial Corp now owns 568,787 shares of the utilities provider’s stock worth $16,910,000 after buying an additional 5,492 shares during the last quarter. Greystone Investment Management LLC increased its position in Brookfield Renewable Partners L.P. by 7.9% in the second quarter. Greystone Investment Management LLC now owns 41,190 shares of the utilities provider’s stock worth $1,314,000 after buying an additional 3,000 shares during the last quarter. Finally, Karpas Strategies LLC increased its position in Brookfield Renewable Partners L.P. by 2.4% in the second quarter. Karpas Strategies LLC now owns 118,525 shares of the utilities provider’s stock worth $3,786,000 after buying an additional 2,800 shares during the last quarter. Institutional investors and hedge funds own 54.31% 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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