Brookfield Renewable Partners (BEP) Given a $35.00 Price Target by Raymond James Financial Analysts

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) has been assigned a $35.00 price target by equities research analysts at Raymond James Financial in a research note issued on Monday. The brokerage currently has a “market perform” rating on the utilities provider’s stock. Raymond James Financial’s price objective indicates a potential upside of 8.63% from the company’s previous close.

Several other analysts also recently weighed in on the company. National Bank Financial lowered their target price on Brookfield Renewable Partners from $36.00 to $35.00 and set a “sector perform” rating for the company in a research note on Wednesday, February 7th. Credit Suisse Group upgraded Brookfield Renewable Partners from a “neutral” rating to an “outperform” rating in a research note on Tuesday, February 6th. Guggenheim set a $36.00 target price on Brookfield Renewable Partners and gave the company a “buy” rating in a research note on Thursday, January 18th. Zacks Investment Research downgraded Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a research note on Thursday, January 11th. Finally, CIBC downgraded Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a research note on Thursday, November 2nd. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has given a strong buy rating to the stock. Brookfield Renewable Partners presently has an average rating of “Hold” and a consensus price target of $36.45.

Shares of Brookfield Renewable Partners (NYSE BEP) traded up $0.10 during trading on Monday, hitting $32.22. The stock had a trading volume of 98,566 shares, compared to its average volume of 106,025. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $5,791.75, a P/E ratio of -268.75 and a beta of 0.16. Brookfield Renewable Partners has a 12 month low of $28.13 and a 12 month high of $36.00.

Brookfield Renewable Partners declared that its Board of Directors has approved a stock 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 reacquire shares of its stock through open market purchases. Shares buyback programs are usually a sign that the company’s board believes its stock is undervalued.

Several hedge funds have recently modified their holdings of the company. DORCHESTER WEALTH MANAGEMENT Co lifted its position in shares of Brookfield Renewable Partners by 8.2% during the third quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 19,230 shares of the utilities provider’s stock worth $644,000 after purchasing an additional 1,450 shares during the last quarter. AGF Investments Inc. lifted its position in shares of Brookfield Renewable Partners by 4.7% during the fourth quarter. AGF Investments Inc. now owns 42,163 shares of the utilities provider’s stock worth $1,469,000 after purchasing an additional 1,881 shares during the last quarter. Commonwealth Equity Services Inc lifted its position in shares of Brookfield Renewable Partners by 19.7% during the third quarter. Commonwealth Equity Services Inc now owns 13,333 shares of the utilities provider’s stock worth $446,000 after purchasing an additional 2,193 shares during the last quarter. JPMorgan Chase & Co. bought a new position in shares of Brookfield Renewable Partners during the second quarter worth about $109,000. Finally, Bank of Nova Scotia Trust Co. lifted its position in shares of Brookfield Renewable Partners by 2.4% during the third quarter. Bank of Nova Scotia Trust Co. now owns 232,606 shares of the utilities provider’s stock worth $7,797,000 after purchasing an additional 5,528 shares during the last quarter. 54.76% of the stock is currently owned by institutional investors and hedge funds.

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Brookfield Renewable Partners 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 (NYSE:BEP)

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