Brookfield Renewable Partners (NYSE:BEP) Stock Price Expected to Rise, National Bankshares Analyst Says

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective boosted by equities research analysts at National Bankshares from $33.00 to $34.00 in a research note issued on Wednesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ target price would indicate a potential upside of 26.56% from the company’s current price.

A number of other brokerages have also recently weighed in on BEP. Raymond James Financial reiterated an “outperform” rating and issued a $35.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Brookfield Renewable Partners in a report on Monday, December 29th. TD Securities upped their price target on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the company a “buy” rating in a research report on Monday, November 3rd. Desjardins upgraded shares of Brookfield Renewable Partners to a “hold” rating in a research note on Wednesday, November 26th. Finally, Royal Bank Of Canada raised their price objective on shares of Brookfield Renewable Partners from $31.00 to $35.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $34.86.

Brookfield Renewable Partners Stock Performance

NYSE BEP opened at $26.87 on Wednesday. The company has a fifty day moving average of $28.38 and a two-hundred day moving average of $27.04. The company has a market capitalization of $8.22 billion, a PE ratio of -31.24 and a beta of 1.12. Brookfield Renewable Partners has a 1 year low of $19.29 and a 1 year high of $32.72. The company has a debt-to-equity ratio of 0.91, a current ratio of 0.58 and a quick ratio of 0.58.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Wednesday, November 5th. The utilities provider reported ($0.23) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.22. The business had revenue of $1.60 billion for the quarter, compared to analysts’ expectations of $1.61 billion. Brookfield Renewable Partners had a return on equity of 0.66% and a net margin of 3.52%. As a group, analysts expect that Brookfield Renewable Partners will post -1.04 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Kelleher Financial Advisors purchased a new position in Brookfield Renewable Partners during the third quarter worth about $26,000. Hilltop National Bank acquired a new position in Brookfield Renewable Partners during the 2nd quarter worth approximately $34,000. Russell Investments Group Ltd. purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth approximately $34,000. Root Financial Partners LLC purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth approximately $46,000. Finally, Activest Wealth Management acquired a new stake in shares of Brookfield Renewable Partners in the 2nd quarter valued at approximately $50,000. 63.16% of the stock is currently owned by institutional investors and hedge funds.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. is a leading global owner, operator and developer of renewable power assets. Listed on the New York Stock Exchange under the ticker BEP, the partnership focuses on generating clean electricity from a diversified mix of hydroelectric, wind, solar and energy storage facilities. As part of the Brookfield Asset Management group, Brookfield Renewable leverages a long-term, asset-backed approach to investing in sustainable energy projects that support the transition to a low-carbon economy.

The company’s platform encompasses approximately 23,000 megawatts of installed capacity across four continents.