CIBC Issues Pessimistic Forecast for Brookfield Renewable Partners (NYSE:BEP) Stock Price

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target lowered by research analysts at CIBC from $34.00 to $32.00 in a research report issued on Wednesday,Benzinga reports. The brokerage presently has an “outperformer” rating on the utilities provider’s stock. CIBC’s target price indicates a potential upside of 41.28% from the stock’s current price.

Several other research firms have also recently commented on BEP. JPMorgan Chase & Co. upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “overweight” rating and set a $30.00 price target on the stock in a report on Thursday, December 12th. StockNews.com downgraded Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a research note on Thursday, December 26th. UBS Group raised Brookfield Renewable Partners from a “neutral” rating to a “buy” rating and boosted their price target for the company from $24.00 to $31.00 in a research note on Monday, September 30th. Royal Bank of Canada reiterated an “outperform” rating and issued a $31.00 target price on shares of Brookfield Renewable Partners in a research note on Wednesday, October 9th. Finally, National Bankshares cut their price target on shares of Brookfield Renewable Partners from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Brookfield Renewable Partners has a consensus rating of “Moderate Buy” and an average price target of $31.56.

Brookfield Renewable Partners Price Performance

NYSE BEP traded down $0.96 on Wednesday, reaching $22.65. The company’s stock had a trading volume of 343,284 shares, compared to its average volume of 471,177. The firm’s 50 day moving average is $24.59 and its two-hundred day moving average is $25.27. The stock has a market cap of $6.46 billion, a PE ratio of -27.62 and a beta of 0.95. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.73. Brookfield Renewable Partners has a twelve month low of $19.92 and a twelve month high of $29.56.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last released 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 business had revenue of $1.47 billion during the quarter, compared to analysts’ expectations 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 company earned ($0.14) EPS. As a group, sell-side analysts predict that Brookfield Renewable Partners will post -0.88 EPS for the current year.

Institutional Trading of Brookfield Renewable Partners

Several hedge funds have recently modified their holdings of BEP. Stifel Financial Corp grew its position in shares of Brookfield Renewable Partners by 1.3% during the 3rd quarter. Stifel Financial Corp now owns 31,214 shares of the utilities provider’s stock worth $880,000 after buying an additional 403 shares during the period. GAMMA Investing LLC grew its holdings 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 acquiring an additional 442 shares during the period. HighTower Advisors LLC raised its position in shares of Brookfield Renewable Partners by 1.6% during the 3rd quarter. HighTower Advisors LLC now owns 46,845 shares of the utilities provider’s stock valued at $1,321,000 after acquiring an additional 749 shares during the last quarter. Apollon Wealth Management LLC boosted its position in shares of Brookfield Renewable Partners by 7.2% in the 3rd quarter. Apollon Wealth Management LLC now owns 13,999 shares of the utilities provider’s stock worth $394,000 after purchasing an additional 945 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of Brookfield Renewable Partners during the third quarter worth $28,000. 63.16% of the stock is owned by 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.