Brookfield Renewable Partners (NYSE:BEP) Upgraded by UBS Group to “Buy”

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) was upgraded by research analysts at UBS Group from a “neutral” rating to a “buy” rating in a note issued to investors on Monday, MarketBeat Ratings reports. The firm currently has a $31.00 price target on the utilities provider’s stock, up from their previous price target of $24.00. UBS Group’s price target points to a potential upside of 9.73% from the company’s previous close.

Other analysts have also issued reports about the company. National Bankshares boosted their price objective on Brookfield Renewable Partners from $32.00 to $33.00 and gave the company an “outperform” rating in a report on Friday, July 19th. Scotiabank upped their target price on Brookfield Renewable Partners from $31.00 to $32.00 and gave the company a “sector outperform” rating in a report on Wednesday, June 12th. StockNews.com lowered Brookfield Renewable Partners from a “hold” rating to a “sell” rating in a report on Friday, August 2nd. Royal Bank of Canada reissued an “outperform” rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, August 5th. Finally, JPMorgan Chase & Co. increased their price objective on Brookfield Renewable Partners from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, two have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Brookfield Renewable Partners currently has a consensus rating of “Moderate Buy” and an average price target of $32.50.

Brookfield Renewable Partners Trading Up 0.2 %

NYSE:BEP opened at $28.25 on Monday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 0.52 and a current ratio of 0.52. Brookfield Renewable Partners has a one year low of $19.92 and a one year high of $28.81. The business’s 50-day simple moving average is $25.13 and its 200 day simple moving average is $24.91. The stock has a market cap of $8.05 billion, a price-to-earnings ratio of -61.41 and a beta of 0.93.

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

Institutional Investors Weigh In On Brookfield Renewable Partners

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Susquehanna Fundamental Investments LLC acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $359,000. The Manufacturers Life Insurance Company lifted its position in shares of Brookfield Renewable Partners by 0.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 282,574 shares of the utilities provider’s stock valued at $6,988,000 after acquiring an additional 1,333 shares during the last quarter. APG Asset Management N.V. lifted its position in shares of 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 acquiring an additional 5,388 shares during the last quarter. CCLA Investment Management lifted its position in shares of Brookfield Renewable Partners by 1.9% during the 2nd quarter. CCLA Investment Management now owns 2,578,419 shares of the utilities provider’s stock valued at $63,952,000 after acquiring an additional 47,734 shares during the last quarter. Finally, Triasima Portfolio Management inc. acquired a new stake in shares of Brookfield Renewable Partners during the 2nd quarter valued at $16,936,000. Institutional investors and hedge funds 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.