Brookfield Renewable Partners (BEP) Price Target Cut to $35.00

Brookfield Renewable Partners (NYSE:BEP) (TSE:BEP) had its price target reduced by National Bank Financial from $36.00 to $35.00 in a research report report published on Wednesday morning. They currently have a sector perform rating on the utilities provider’s stock.

Several other equities research analysts have also recently commented on BEP. Zacks Investment Research cut Brookfield Renewable Partners from a buy rating to a hold rating in a research note on Thursday, October 19th. BMO Capital Markets reissued a hold rating and issued a $35.00 price target on shares of Brookfield Renewable Partners in a research note on Friday, October 20th. GMP Securities reissued a hold rating and issued a $34.50 price target on shares of Brookfield Renewable Partners in a research note on Friday, October 20th. CIBC cut Brookfield Renewable Partners from a sector outperform rating to a neutral rating in a research note on Thursday, November 2nd. Finally, Guggenheim set a $36.00 price target on Brookfield Renewable Partners and gave the company a buy rating in a research note on Thursday, January 18th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. Brookfield Renewable Partners has an average rating of Hold and a consensus target price of $37.15.

Shares of Brookfield Renewable Partners (NYSE BEP) opened at $32.08 on Wednesday. The company has a market capitalization of $5,766.50, a P/E ratio of -267.31 and a beta of 0.16. Brookfield Renewable Partners has a 12 month low of $28.13 and a 12 month 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.

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

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Brookfield Asset Management Inc. lifted its holdings in Brookfield Renewable Partners by 9.7% in the 2nd quarter. Brookfield Asset Management Inc. now owns 56,068,944 shares of the utilities provider’s stock worth $1,786,357,000 after purchasing an additional 4,943,000 shares during the last quarter. TD Asset Management Inc. lifted its holdings in Brookfield Renewable Partners by 0.4% in 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 last quarter. Principal Financial Group Inc. lifted its holdings in Brookfield Renewable Partners by 1.5% in the 3rd quarter. Principal Financial Group Inc. now owns 2,428,721 shares of the utilities provider’s stock worth $81,411,000 after purchasing an additional 36,368 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in Brookfield Renewable Partners by 166.4% in the 4th quarter. CIBC Asset Management Inc now owns 1,724,407 shares of the utilities provider’s stock worth $60,353,000 after purchasing an additional 1,077,118 shares during the last quarter. Finally, FMR LLC lifted its holdings in Brookfield Renewable Partners by 5.1% in the 2nd quarter. FMR LLC now owns 1,245,800 shares of the utilities provider’s stock worth $39,724,000 after purchasing an additional 60,000 shares during the last quarter. Hedge funds and other institutional investors own 54.19% of the company’s stock.

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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.

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