Wells Fargo & Co Analysts Give Brookfield Renewable Partners (BEP) a $34.00 Price Target

Wells Fargo & Co set a $34.00 price target on Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) in a report released on Wednesday. The firm currently has a buy rating on the utilities provider’s stock.

A number of other equities analysts also recently issued reports on BEP. Scotiabank restated a hold rating and set a $34.00 price objective on shares of Brookfield Renewable Partners in a research report on Friday, August 3rd. Zacks Investment Research upgraded Brookfield Renewable Partners from a hold rating to a buy rating and set a $34.00 price objective for the company in a research report on Wednesday, July 4th. Finally, Deutsche Bank began coverage on Brookfield Renewable Partners in a research note on Friday, September 28th. They set a sell rating and a $28.00 target price for the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company’s stock. Brookfield Renewable Partners presently has a consensus rating of Hold and a consensus target price of $33.69.

Shares of BEP opened at $27.55 on Wednesday. Brookfield Renewable Partners has a 1 year low of $26.08 and a 1 year high of $35.34. The company has a quick ratio of 0.78, a current ratio of 0.95 and a debt-to-equity ratio of 0.83.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its quarterly earnings data on Wednesday, October 31st. The utilities provider reported ($0.18) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.06) by ($0.12). Brookfield Renewable Partners had a return on equity of 0.41% and a net margin of 1.89%. The company had revenue of $674.00 million for the quarter, compared to the consensus estimate of $744.79 million.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BEP. Wells Fargo & Company MN grew its stake in Brookfield Renewable Partners by 161.9% during the first quarter. Wells Fargo & Company MN now owns 26,690 shares of the utilities provider’s stock worth $831,000 after purchasing an additional 16,501 shares during the period. UBS Group AG grew its stake in Brookfield Renewable Partners by 14.5% during the first quarter. UBS Group AG now owns 81,182 shares of the utilities provider’s stock worth $2,527,000 after purchasing an additional 10,263 shares during the period. Jane Street Group LLC acquired a new stake in Brookfield Renewable Partners during the first quarter worth approximately $345,000. Principal Financial Group Inc. grew its stake in Brookfield Renewable Partners by 2.3% during the first quarter. Principal Financial Group Inc. now owns 2,551,629 shares of the utilities provider’s stock worth $79,432,000 after purchasing an additional 57,048 shares during the period. Finally, Montrusco Bolton Investments Inc. grew its stake in Brookfield Renewable Partners by 9.5% during the second quarter. Montrusco Bolton Investments Inc. now owns 1,319,496 shares of the utilities provider’s stock worth $39,581,000 after purchasing an additional 114,195 shares during the period. 55.23% of the stock is owned by institutional investors and hedge funds.

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.

See Also: How can investors find ex-dividend dates?

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

Receive News & Ratings for Brookfield Renewable Partners Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Brookfield Renewable Partners and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply