JPMorgan Chase & Co. Reaffirms “Neutral” Rating for Brookfield Renewable Partners (NYSE:BEP)

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP)‘s stock had its “neutral” rating reaffirmed by analysts at JPMorgan Chase & Co. in a report issued on Tuesday,Benzinga reports. They currently have a $36.00 target price on the utilities provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 11.87% from the company’s current price.

A number of other research analysts have also commented on BEP. Zacks Research lowered Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a report on Friday, July 3rd. Morgan Stanley boosted their target price on Brookfield Renewable Partners from $38.00 to $42.00 and gave the stock an “overweight” rating in a report on Monday, March 23rd. TD upped their target price on Brookfield Renewable Partners from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Monday, May 4th. National Bank Financial increased their price target on Brookfield Renewable Partners from $36.00 to $39.00 and gave the company an “outperform” rating in a report on Thursday, June 11th. Finally, Canadian Imperial Bank of Commerce reissued an “outperform” rating and issued a $41.00 price target on shares of Brookfield Renewable Partners in a research report on Friday, July 17th. Ten investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $37.93.

Brookfield Renewable Partners Trading Down 0.0%

NYSE BEP opened at $32.18 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.75 and a debt-to-equity ratio of 0.82. Brookfield Renewable Partners has a 1-year low of $24.13 and a 1-year high of $38.12. The firm’s fifty day simple moving average is $34.63 and its 200-day simple moving average is $32.49. The company has a market capitalization of $9.66 billion, a PE ratio of -103.80 and a beta of 1.10.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its quarterly earnings data on Saturday, May 2nd. The utilities provider reported ($0.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.36) by ($0.04). Brookfield Renewable Partners had a net margin of 8.28% and a return on equity of 1.57%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.50 billion. As a group, sell-side analysts anticipate that Brookfield Renewable Partners will post -1.53 earnings per share for the current fiscal year.

Institutional Trading of Brookfield Renewable Partners

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Principal Financial Group Inc. lifted its stake in shares of Brookfield Renewable Partners by 1.8% in the fourth quarter. Principal Financial Group Inc. now owns 10,305,148 shares of the utilities provider’s stock valued at $277,930,000 after buying an additional 177,599 shares during the period. Intact Investment Management Inc. increased its stake in Brookfield Renewable Partners by 45.3% during the fourth quarter. Intact Investment Management Inc. now owns 1,156,587 shares of the utilities provider’s stock valued at $31,253,000 after acquiring an additional 360,820 shares during the period. TABR Capital Management LLC bought a new position in Brookfield Renewable Partners during the fourth quarter valued at about $544,000. Cibc World Market Inc. raised its holdings in Brookfield Renewable Partners by 4.5% in the 4th quarter. Cibc World Market Inc. now owns 2,989,622 shares of the utilities provider’s stock valued at $80,809,000 after acquiring an additional 127,450 shares in the last quarter. Finally, TD Waterhouse Canada Inc. raised its holdings in Brookfield Renewable Partners by 2.3% in the 4th quarter. TD Waterhouse Canada Inc. now owns 833,139 shares of the utilities provider’s stock valued at $22,459,000 after acquiring an additional 18,887 shares in the last quarter. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.