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 target dropped by research analysts at JPMorgan Chase & Co. from $30.00 to $28.00 in a report released on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target would suggest a potential upside of 37.92% from the company’s previous close.

A number of other research firms also recently weighed in on BEP. National Bankshares dropped their target price on Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Wednesday, December 18th. Royal Bank of Canada reissued an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Wednesday, October 9th. StockNews.com downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research report on Thursday, December 26th. UBS Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $24.00 to $31.00 in a research report on Monday, September 30th. Finally, CIBC increased their price objective on shares of Brookfield Renewable Partners from $39.00 to $40.00 and gave the company an “outperform” rating in a report on Thursday, January 9th. One equities research analyst has rated the stock with a sell rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $32.22.

Brookfield Renewable Partners Price Performance

Shares of Brookfield Renewable Partners stock traded up $0.27 during trading on Thursday, reaching $20.30. The company’s stock had a trading volume of 482,837 shares, compared to its average volume of 910,115. The stock has a 50-day moving average price of $23.61 and a two-hundred day moving average price of $24.96. The stock has a market capitalization of $5.79 billion, a P/E ratio of -24.75 and a beta of 0.95. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 0.93. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $29.56.

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

Hedge Funds Weigh In On Brookfield Renewable Partners

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its stake in Brookfield Renewable Partners by 86.5% during the 3rd quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after buying an additional 442 shares during the period. Wilmington Savings Fund Society FSB bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $28,000. Waverton Investment Management Ltd bought a new position in shares of Brookfield Renewable Partners during the 3rd quarter valued at about $178,000. Barclays PLC grew its position in shares of Brookfield Renewable Partners by 40.6% in the 3rd quarter. Barclays PLC now owns 7,047 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 2,036 shares during the period. Finally, Creative Planning bought a new stake in Brookfield Renewable Partners during the 3rd quarter worth approximately $206,000. Institutional investors and hedge funds own 63.16% of the company’s stock.

Brookfield Renewable Partners Company Profile

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.