Brookfield Renewable Partners (BEP) PT Set at $36.00 by Guggenheim

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) received a $36.00 price target from equities research analysts at Guggenheim in a research report issued to clients and investors on Thursday. The brokerage currently has a “buy” rating on the utilities provider’s stock. Guggenheim’s price target would suggest a potential upside of 8.40% from the stock’s current price.

A number of other brokerages have also recently commented on BEP. BMO Capital Markets reaffirmed a “hold” rating and set a $35.00 price target on shares of Brookfield Renewable Partners in a research report on Friday, October 20th. Zacks Investment Research cut Brookfield Renewable Partners from a “buy” rating to a “hold” rating in a research report on Thursday, October 19th. National Bank Financial upped their price target on Brookfield Renewable Partners from $35.00 to $45.00 and gave the company a “sector perform” rating in a research report on Wednesday, October 18th. GMP Securities reaffirmed a “hold” rating and set a $34.50 price target on shares of Brookfield Renewable Partners in a research report on Friday, October 20th. Finally, CIBC cut Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a research report on Thursday, November 2nd. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $38.15.

Shares of Brookfield Renewable Partners (BEP) traded down $0.22 during trading hours on Thursday, reaching $33.21. The company’s stock had a trading volume of 74,077 shares, compared to its average volume of 81,935. Brookfield Renewable Partners has a 52-week low of $28.13 and a 52-week high of $36.00. The company has a debt-to-equity ratio of 0.74, a current ratio of 0.58 and a quick ratio of 0.58. The company has a market cap of $6,030.00, a P/E ratio of -276.75 and a beta of 0.21.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings results on Wednesday, November 1st. The utilities provider reported ($0.14) EPS for the quarter, missing analysts’ consensus estimates of ($0.07) by ($0.07). Brookfield Renewable Partners had a net margin of 3.11% and a return on equity of 0.64%. The firm had revenue of $762.30 million for the quarter, compared to analysts’ expectations of $795.58 million. sell-side analysts forecast that Brookfield Renewable Partners will post -0.63 EPS for the current year.

Brookfield Renewable Partners announced that its Board of Directors has initiated a share repurchase program on Friday, December 22nd that authorizes the company to buyback 9,000,000 outstanding shares. This buyback authorization authorizes the utilities provider to buy shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board believes its stock is undervalued.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Brookfield Asset Management Inc. lifted its holdings in Brookfield Renewable Partners by 9.7% during the 2nd quarter. Brookfield Asset Management Inc. now owns 56,068,944 shares of the utilities provider’s stock worth $1,786,357,000 after purchasing an additional 4,943,000 shares in the last quarter. TD Asset Management Inc. lifted its holdings in Brookfield Renewable Partners by 0.4% during the 3rd quarter. TD Asset Management Inc. now owns 3,384,550 shares of the utilities provider’s stock worth $113,148,000 after purchasing an additional 12,896 shares in the last quarter. Scotia Capital Inc. lifted its holdings in Brookfield Renewable Partners by 19.5% during the 2nd quarter. Scotia Capital Inc. now owns 2,527,595 shares of the utilities provider’s stock worth $80,466,000 after purchasing an additional 412,554 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield Renewable Partners by 1.5% during the 3rd quarter. Principal Financial Group Inc. now owns 2,428,721 shares of the utilities provider’s stock worth $81,411,000 after purchasing an additional 36,368 shares in the last quarter. Finally, FMR LLC lifted its holdings in Brookfield Renewable Partners by 5.1% during the 2nd quarter. FMR LLC now owns 1,245,800 shares of the utilities provider’s stock worth $39,724,000 after purchasing an additional 60,000 shares in the last quarter. 54.06% of the stock is currently owned by institutional investors and hedge funds.

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About Brookfield Renewable Partners

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 (NYSE:BEP)



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