Brookfield Renewable Partners (NYSE:BEP) Price Target Lowered to $28.00 at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price objective decreased by stock analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price objective points to a potential upside of 37.92% from the stock’s current price.

Other equities analysts have also recently issued research reports about the company. CIBC boosted their price objective on Brookfield Renewable Partners from $39.00 to $40.00 and gave the stock an “outperform” rating in a research report on Thursday, January 9th. National Bankshares cut their price target on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Wednesday, December 18th. Royal Bank of Canada restated an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and upped their target price for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Finally, StockNews.com lowered shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. One investment analyst has rated the stock with a sell rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average target price of $32.22.

Brookfield Renewable Partners Stock Performance

Brookfield Renewable Partners stock traded up $0.27 during trading hours on Thursday, reaching $20.30. 482,837 shares of the company were exchanged, compared to its average volume of 910,115. Brookfield Renewable Partners has a 12 month low of $19.92 and a 12 month high of $29.56. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. The stock has a 50-day moving average of $23.61 and a 200 day moving average of $24.96. The firm has a market cap of $5.79 billion, a price-to-earnings ratio of -24.75 and a beta of 0.95.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last posted its earnings results on Friday, November 8th. The utilities provider reported ($0.32) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.04) by ($0.28). The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $843.18 million. Brookfield Renewable Partners had a net margin of 1.16% and a return on equity of 0.24%. During the same quarter in the previous year, the business posted ($0.14) earnings per share. As a group, research analysts anticipate that Brookfield Renewable Partners will post -0.88 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently modified their holdings of the stock. Principal Financial Group Inc. raised its stake in Brookfield Renewable Partners by 4.5% during the third quarter. Principal Financial Group Inc. now owns 7,605,679 shares of the utilities provider’s stock worth $214,328,000 after acquiring an additional 330,648 shares in the last quarter. Bank of Montreal Can grew its holdings in shares of Brookfield Renewable Partners by 0.4% in the 3rd quarter. Bank of Montreal Can now owns 6,744,285 shares of the utilities provider’s stock worth $190,469,000 after purchasing an additional 26,189 shares during the last quarter. CCLA Investment Management increased its position in shares of Brookfield Renewable Partners by 1.9% during the 4th quarter. CCLA Investment Management now owns 2,627,972 shares of the utilities provider’s stock worth $59,838,000 after purchasing an additional 49,553 shares in the last quarter. APG Asset Management N.V. lifted its holdings in Brookfield Renewable Partners by 0.3% during the 2nd quarter. APG Asset Management N.V. now owns 1,747,150 shares of the utilities provider’s stock valued at $40,327,000 after purchasing an additional 5,388 shares during the last quarter. Finally, Toronto Dominion Bank boosted its position in Brookfield Renewable Partners by 11.1% in the third quarter. Toronto Dominion Bank now owns 1,735,462 shares of the utilities provider’s stock valued at $48,905,000 after buying an additional 173,882 shares in the last quarter. Institutional investors own 63.16% of the company’s stock.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities primarily in North America, Colombia, and Brazil. The company generates electricity through hydroelectric, wind, solar, distributed generation, and pumped storage, as well as renewable natural gas, carbon capture and storage, recycling, cogeneration biomass, nuclear services, and power transformation.