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

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its target price dropped by equities researchers at National Bankshares from $32.00 to $30.00 in a research note issued to investors on Tuesday,BayStreet.CA reports. The brokerage currently has an “outperform” rating on the utilities provider’s stock. National Bankshares’ price objective points to a potential upside of 36.49% from the company’s current price.

BEP has been the topic of several other research reports. Wells Fargo & Company cut their price target on Brookfield Renewable Partners from $31.00 to $29.00 and set an “overweight” rating on the stock in a research report on Monday, February 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $31.00 price objective on shares of Brookfield Renewable Partners in a report on Monday, February 3rd. JPMorgan Chase & Co. dropped their price objective on Brookfield Renewable Partners from $30.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 23rd. Scotiabank reduced their price objective on Brookfield Renewable Partners from $32.00 to $28.00 and set an “outperform” rating on the stock in a research report on Thursday, January 30th. Finally, StockNews.com upgraded Brookfield Renewable Partners from a “sell” rating to a “hold” rating in a research note on Monday, February 3rd. One investment analyst has rated the stock with a hold rating, eight have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $30.40.

Brookfield Renewable Partners Stock Performance

NYSE BEP traded down $0.18 during trading hours on Tuesday, reaching $21.98. The stock had a trading volume of 162,513 shares, compared to its average volume of 977,339. Brookfield Renewable Partners has a 52-week low of $19.92 and a 52-week high of $29.56. The stock has a market cap of $6.27 billion, a P/E ratio of -24.70 and a beta of 0.95. The stock has a fifty day moving average of $22.55 and a 200 day moving average of $24.61. The company has a debt-to-equity ratio of 0.93, a quick ratio of 0.73 and a current ratio of 0.25.

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) last issued its earnings results on Friday, January 31st. The utilities provider reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.22) by $0.16. Brookfield Renewable Partners had a negative return on equity of 0.03% and a negative net margin of 0.15%. During the same period in the prior year, the firm posted $0.01 earnings per share. Sell-side analysts predict that Brookfield Renewable Partners will post -0.99 earnings per share for the current year.

Hedge Funds Weigh In On Brookfield Renewable Partners

A number of institutional investors have recently made changes to their positions in BEP. GAMMA Investing LLC increased its stake in shares of Brookfield Renewable Partners by 86.5% in the third quarter. GAMMA Investing LLC now owns 953 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 442 shares during the period. Creative Planning acquired a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $206,000. Aspiriant LLC acquired a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $241,000. Sequoia Financial Advisors LLC acquired a new stake in Brookfield Renewable Partners during the third quarter valued at approximately $6,191,000. Finally, Private Advisor Group LLC boosted its holdings in shares of Brookfield Renewable Partners by 47.8% in the 3rd quarter. Private Advisor Group LLC now owns 32,537 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 10,521 shares in the last quarter. 63.16% 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, 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.