Brookfield Renewable Partners LP (NYSE:BEP) (TSE:BEP) has been given an average recommendation of “Hold” by the nine brokerages that are covering the firm, MarketBeat Ratings reports. Seven equities research analysts have rated the stock with a hold recommendation and two have given a buy recommendation to the company. The average 1 year price objective among analysts that have updated their coverage on the stock in the last year is $34.67.
Several equities research analysts have weighed in on BEP shares. BMO Capital Markets boosted their price objective on Brookfield Renewable Partners from $33.00 to $33.50 and gave the stock a “market perform” rating in a research note on Wednesday, June 13th. Zacks Investment Research raised Brookfield Renewable Partners from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research note on Wednesday, July 4th. Finally, Scotiabank reissued a “hold” rating and set a $34.00 price objective on shares of Brookfield Renewable Partners in a research note on Friday, August 3rd.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Bridgeworth LLC purchased a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $108,000. Flagship Harbor Advisors LLC purchased a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $127,000. Citadel Advisors LLC purchased a new position in shares of Brookfield Renewable Partners during the first quarter valued at approximately $203,000. K.J. Harrison & Partners Inc purchased a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $289,000. Finally, Cambridge Investment Research Advisors Inc. purchased a new position in shares of Brookfield Renewable Partners during the second quarter valued at approximately $295,000. 55.24% of the stock is currently owned by institutional investors.
NYSE BEP traded up $0.08 during trading hours on Wednesday, hitting $31.07. 11,807 shares of the company were exchanged, compared to its average volume of 116,496. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.78 and a quick ratio of 0.78. Brookfield Renewable Partners has a 52 week low of $29.57 and a 52 week high of $35.34. The stock has a market capitalization of $5.57 billion, a P/E ratio of -171.89 and a beta of 0.22.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Friday, August 3rd. The utilities provider reported ($0.01) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.17 by ($0.18). Brookfield Renewable Partners had a return on equity of 0.48% and a net margin of 1.00%. The company had revenue of $735.00 million for the quarter, compared to the consensus estimate of $785.00 million. equities research analysts anticipate that Brookfield Renewable Partners will post -0.28 earnings per share for the current fiscal year.
Brookfield Renewable Partners Company Profile
Brookfield Renewable Partners L.P. owns a portfolio of renewable power generating facilities in the North America, Colombia, Brazil, Europe, and internationally. The company operates through Hydroelectric; Wind; and Solar, Storage, and others segments. It operates 840 generation facilities using hydro, solar, wind, biomass, and other renewable technologies.
Further Reading: Understanding Average Daily Trade Volume
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