Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Thursday. The firm presently has a $38.00 price objective on the utilities provider’s stock. Zacks Investment Research‘s price target suggests a potential upside of 13.47% from the company’s previous close.

According to Zacks, “Brookfield Renewable Energy Partners L.P. owns and operates renewable power platform. The company’s power generating portfolio comprised of hydroelectric generating, wind facilities and natural gas-fired plants. It operates in the United States, Canada and Brazil. The company sells its generation output to public power authorities, load-serving utilities and industrial users. Brookfield Renewable Energy Partners L.P., is based in Hamilton, Bermuda. “

Other research analysts also recently issued research reports about the company. TD Securities boosted their target price on Brookfield Renewable Partners L.P. from $35.00 to $38.00 and gave the stock a “buy” rating in a research note on Tuesday, August 8th. Brookfield Renewable Partners LP boosted their target price on Brookfield Renewable Partners L.P. to $48.50 and gave the stock a “buy” rating in a research note on Wednesday, August 16th. TheStreet raised Brookfield Renewable Partners L.P. from a “d+” rating to a “c-” rating in a research note on Tuesday, June 27th. Barclays PLC set a $36.00 target price on Brookfield Renewable Partners L.P. and gave the stock a “hold” rating in a research note on Sunday, August 6th. Finally, BMO Capital Markets reissued a “hold” rating and set a $33.00 target price on shares of Brookfield Renewable Partners L.P. in a research note on Wednesday, July 12th. Nine research analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company. Brookfield Renewable Partners L.P. currently has an average rating of “Hold” and an average target price of $36.78.

Shares of Brookfield Renewable Partners L.P. (NYSE:BEP) traded down 0.39% during midday trading on Thursday, hitting $33.49. 162,131 shares of the company were exchanged. The company has a market capitalization of $9.93 billion, a P/E ratio of 11163.33 and a beta of 0.23. Brookfield Renewable Partners L.P. has a one year low of $26.61 and a one year high of $36.00. The company has a 50-day moving average of $34.31 and a 200 day moving average of $32.43.

Brookfield Renewable Partners L.P. (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, August 4th. The utilities provider reported $0.13 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.08 by $0.05. The firm had revenue of $683.00 million during the quarter, compared to the consensus estimate of $721.75 million. Brookfield Renewable Partners L.P. had a return on equity of 0.76% and a net margin of 3.66%. On average, equities research analysts expect that Brookfield Renewable Partners L.P. will post $0.08 earnings per share for the current fiscal year.

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Institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in shares of Brookfield Renewable Partners L.P. in the second quarter valued at approximately $109,000. Chicago Partners Investment Group LLC acquired a new position in shares of Brookfield Renewable Partners L.P. in the second quarter valued at approximately $259,000. Wells Fargo & Company MN increased its stake in shares of Brookfield Renewable Partners L.P. by 242.2% in the second quarter. Wells Fargo & Company MN now owns 8,972 shares of the utilities provider’s stock valued at $287,000 after buying an additional 6,350 shares during the period. Advisory Services Network LLC acquired a new position in shares of Brookfield Renewable Partners L.P. in the second quarter valued at approximately $305,000. Finally, Jane Street Group LLC acquired a new position in shares of Brookfield Renewable Partners L.P. in the first quarter valued at approximately $454,000. 58.34% of the stock is owned by 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.

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

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