Brookfield Renewable Partners (BEP) Price Target Cut to $35.00 by Analysts at National Bank Financial

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target cut by stock analysts at National Bank Financial from $36.00 to $35.00 in a research note issued on Wednesday. The brokerage currently has a “sector perform” rating on the utilities provider’s stock. National Bank Financial’s target price points to a potential upside of 9.31% from the stock’s previous close.

BEP has been the topic of a number of other reports. Zacks Investment Research downgraded shares of Brookfield Renewable Partners from a “hold” rating to a “strong sell” rating in a report on Thursday, January 11th. GMP Securities restated a “hold” rating and issued a $34.50 target price on shares of Brookfield Renewable Partners in a report on Friday, October 20th. CIBC downgraded shares of Brookfield Renewable Partners from a “sector outperform” rating to a “neutral” rating in a report on Thursday, November 2nd. Credit Suisse Group upgraded shares of Brookfield Renewable Partners from a “neutral” rating to an “outperform” rating in a report on Tuesday. Finally, Guggenheim set a $36.00 target price on shares of Brookfield Renewable Partners and gave the stock a “buy” rating in a report on Thursday, January 18th. One analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has assigned a strong buy rating to the company. Brookfield Renewable Partners presently has a consensus rating of “Hold” and a consensus price target of $37.15.

Shares of Brookfield Renewable Partners (BEP) opened at $32.02 on Wednesday. Brookfield Renewable Partners has a fifty-two week low of $28.13 and a fifty-two week high of $36.00. The company has a quick ratio of 0.58, a current ratio of 0.58 and a debt-to-equity ratio of 0.74. The firm has a market cap of $5,766.50, a PE ratio of -266.81 and a beta of 0.16.

Brookfield Renewable Partners declared that its board has approved a share repurchase program on Friday, December 22nd that permits the company to buyback 9,000,000 shares. This buyback authorization permits the utilities provider to purchase shares of its stock through open market purchases. Shares buyback programs are often an indication that the company’s management believes its shares are undervalued.

Hedge funds have recently added to or reduced their stakes in the stock. TD Asset Management Inc. boosted its stake in shares of Brookfield Renewable Partners by 0.4% during the 3rd quarter. TD Asset Management Inc. now owns 3,384,550 shares of the utilities provider’s stock worth $113,148,000 after purchasing an additional 12,896 shares during the period. Advisors Capital Management LLC purchased a new position in shares of Brookfield Renewable Partners during the 3rd quarter worth about $3,890,000. Bank of Nova Scotia Trust Co. boosted its stake in shares of Brookfield Renewable Partners by 2.4% during the 3rd quarter. Bank of Nova Scotia Trust Co. now owns 232,606 shares of the utilities provider’s stock worth $7,797,000 after purchasing an additional 5,528 shares during the period. American Assets Capital Advisers boosted its stake in shares of Brookfield Renewable Partners by 2.5% during the 3rd quarter. American Assets Capital Advisers now owns 338,200 shares of the utilities provider’s stock worth $11,337,000 after purchasing an additional 8,091 shares during the period. Finally, Ecofin Ltd. purchased a new position in shares of Brookfield Renewable Partners during the 2nd quarter worth about $4,312,000. 54.19% of the stock is owned by hedge funds and other institutional investors.

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About Brookfield Renewable Partners

Brookfield Renewable Partners L.P., formerly Brookfield Renewable Energy Partners L.P., is the owner and operator of a portfolio of assets that generate electricity from renewable resources. The Company operates as a pure-play renewable power platform. Its segments include Hydroelectric, Wind, Other and Corporate.

Analyst Recommendations for Brookfield Renewable Partners (NYSE:BEP)

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