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Brookfield Renewable Partners (NYSE:BEP) Earns Overweight Rating from Analysts at Barclays
Posted by Logan Wallace on Jul 14th, 2019
Barclays started coverage on shares of Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report published on Thursday, BenzingaRatingsTable reports. The firm issued an overweight rating and a $40.00 target price on the utilities provider's stock.
Several other equities analysts have also recently issued reports on BEP. Wells Fargo & Co reissued a buy rating and issued a $36.00 price objective on shares of Brookfield Renewable Partners in a research note on Thursday, April 4th. Desjardins boosted their price objective on shares of Stella-Jones from C$50.00 to C$54.00 in a research note on Friday, May 3rd. Raymond James reissued a market perform rating and issued a $31.00 price objective on shares of Brookfield Renewable Partners in a research note on Thursday, July 4th. Finally, Zacks Investment Research raised shares of HB Fuller from a sell rating to a hold rating in a research note on Wednesday, July 3rd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company's stock. The company presently has an average rating of Hold and a consensus target price of $35.57.
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BEP stock opened at $35.93 on Thursday. The firm has a fifty day simple moving average of $34.08. Brookfield Renewable Partners has a 12 month low of $24.51 and a 12 month high of $36.51. The stock has a market cap of $6.43 billion, a P/E ratio of 149.71, a price-to-earnings-growth ratio of 10.92 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 0.98 and a current ratio of 0.98.
Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last announced its quarterly earnings data on Thursday, May 2nd. The utilities provider reported $0.14 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.02). The firm had revenue of $825.00 million during the quarter, compared to analyst estimates of $839.76 million. Brookfield Renewable Partners had a net margin of 7.20% and a return on equity of 1.47%. As a group, research analysts anticipate that Brookfield Renewable Partners will post 0.47 EPS for the current year.
A number of institutional investors and hedge funds have recently made changes to their positions in BEP. FIL Ltd increased its stake in Brookfield Renewable Partners by 96.1% in the 1st quarter. FIL Ltd now owns 1,871,967 shares of the utilities provider's stock valued at $59,674,000 after buying an additional 917,577 shares during the period. Ronna Sue Cohen grew its stake in shares of Brookfield Renewable Partners by 3,095.0% during the 1st quarter. Ronna Sue Cohen now owns 640,598 shares of the utilities provider's stock worth $641,000 after purchasing an additional 620,548 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp acquired a new position in shares of Brookfield Renewable Partners during the 1st quarter worth $9,290,000. FMR LLC grew its stake in shares of Brookfield Renewable Partners by 69.9% during the 4th quarter. FMR LLC now owns 338,291 shares of the utilities provider's stock worth $8,760,000 after purchasing an additional 139,169 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its stake in shares of Brookfield Renewable Partners by 7.7% during the 1st quarter. Montrusco Bolton Investments Inc. now owns 1,583,125 shares of the utilities provider's stock worth $49,676,000 after purchasing an additional 113,625 shares during the period. 53.40% of the stock is currently 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, Brazil, Europe, India, and China. The company generates electricity through hydro, wind, solar, cogeneration, and biomass sources. Its portfolio consists of approximately 17,400 megawatts of installed capacity.
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