Brookfield Renewable Partners (NYSE:BEP) Given New $31.00 Price Target at JPMorgan Chase & Co.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target hoisted by JPMorgan Chase & Co. from $30.00 to $31.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The firm presently has a “neutral” rating on the utilities provider’s stock. JPMorgan Chase & Co.‘s price target indicates a potential upside of 10.83% from the company’s current price.

A number of other equities analysts have also recently commented on the company. National Bankshares lifted their price target on Brookfield Renewable Partners from $32.00 to $33.00 and gave the stock an “outperform” rating in a research note on Friday, July 19th. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $31.00 price target on shares of Brookfield Renewable Partners in a research note on Monday, August 5th. Scotiabank lifted their price target on Brookfield Renewable Partners from $31.00 to $32.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, June 12th. TD Securities lifted their price target on Brookfield Renewable Partners from $32.00 to $34.00 and gave the stock a “buy” rating in a research note on Wednesday, May 29th. Finally, StockNews.com cut Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $31.90.

Brookfield Renewable Partners Stock Performance

Shares of BEP opened at $27.97 on Wednesday. The company has a market cap of $7.97 billion, a PE ratio of -60.72 and a beta of 0.93. The company has a current ratio of 0.52, a quick ratio of 0.52 and a debt-to-equity ratio of 0.91. The stock has a 50-day moving average price of $24.83 and a 200-day moving average price of $24.75. Brookfield Renewable Partners has a 12-month low of $19.92 and a 12-month high of $28.81.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released its earnings results on Friday, August 2nd. The utilities provider reported ($0.28) earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.41). The firm had revenue of $1.48 billion during the quarter, compared to the consensus estimate of $1.49 billion. Brookfield Renewable Partners had a return on equity of 0.46% and a net margin of 2.37%. The business’s quarterly revenue was up 23.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.10) EPS. As a group, equities analysts forecast that Brookfield Renewable Partners will post -0.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Brookfield Renewable Partners

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Scarborough Advisors LLC purchased a new stake in Brookfield Renewable Partners in the fourth quarter worth $30,000. Dixon Mitchell Investment Counsel Inc. purchased a new stake in Brookfield Renewable Partners in the first quarter worth $31,000. Evermay Wealth Management LLC purchased a new stake in Brookfield Renewable Partners in the first quarter worth $49,000. Clear Point Advisors Inc. purchased a new stake in Brookfield Renewable Partners in the first quarter worth $49,000. Finally, PNC Financial Services Group Inc. grew its stake in Brookfield Renewable Partners by 17.9% in the fourth quarter. PNC Financial Services Group Inc. now owns 5,926 shares of the utilities provider’s stock worth $156,000 after purchasing an additional 900 shares during the period. 63.16% of the stock is owned by hedge funds and other institutional investors.

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.