Royal Bank of Canada Maintains Outperform Rating for Brookfield Renewable Partners

Brookfield Renewable Partners (NYSE:BEP - Get Free Report) has received a positive assessment from Royal Bank of Canada. In a research report released on Monday, analysts reiterated an "outperform" rating for the company and set a target price of $31.00 for its shares. This target price suggests a 45.53% upside potential based on the stock's previous closing price.

Several other research firms have also provided insights into the stock's performance. For example, National Bankshares decreased their price target for Brookfield Renewable Partners from $33.00 to $32.00, maintaining an "outperform" rating in a recent report. Meanwhile, JPMorgan Chase lowered their target from $30.00 to $28.00 and rated the stock as "overweight." Scotiabank also reduced their target price from $32.00 to $28.00 while continuing to endorse an "outperform" rating.

In a more negative view, StockNews.com downgraded Brookfield Renewable Partners from a "hold" rating to a "sell" rating. Conversely, CIBC increased their price target from $39.00 to $40.00, keeping their "outperform" rating intact. Overall, one analyst has given the stock a sell rating, nine have rated it as a buy, and one has given a strong buy. The current consensus rating for Brookfield Renewable Partners stands at "Moderate Buy" with an average price target of $31.50.

Price Performance Overview

On Monday, the shares of Brookfield Renewable Partners traded down by $0.59 to $21.30, with a trading volume of 588,655 shares compared to the average volume of 1,024,469. The company has a debt-to-equity ratio of 0.93 and current and quick ratios of 0.73. Its market capitalization is approximately $6.07 billion, with a price-to-earnings ratio (P/E) of -23.98 and a beta of 0.95. Over the past year, shares have hit a low of $19.92 and a high of $29.56. The stock's 50-day moving average is $23.03, while the 200-day moving average is $24.71.

Brookfield Renewable Partners last filed its quarterly earnings data on January 31st, reporting earnings per share (EPS) of ($0.06), surpassing analysts' estimates of ($0.22). The company experienced a negative return on equity of 0.03% and a net margin of -0.15%. Comparatively, during the same quarter the previous year, it posted an EPS of $0.01. Analysts currently predict the company will report an EPS of -0.76 for the current year.

Institutional Holdings and Investments

Recently, various institutional investors and hedge funds have adjusted their stakes in Brookfield Renewable Partners. CIBC Asset Management increased its stake in the company by 23.8% during the fourth quarter and now holds 8,472,170 shares valued at roughly $192.6 million. Intact Investment Management acquired a new position in the stock during the third quarter valued at $42.3 million, while Principal Financial Group raised its stake by 4.5%, totaling 7,605,679 shares worth approximately $214.3 million after purchasing additional shares.

Moreover, Mirabella Financial Services boosted its position in Brookfield Renewable Partners by 145.2% during the same quarter, owning 466,736 shares valued at $13.2 million after acquiring additional shares. Sequoia Financial Advisors also purchased a new stake during the same period worth approximately $6.2 million. Institutions and hedge funds own around 63.16% of the stock.

Company Overview

Brookfield Renewable Partners L.P. maintains a diverse portfolio of renewable power generation facilities located primarily in North America, Colombia, and Brazil. The company generates electricity via a variety of methods, including hydroelectric, wind, solar, and other renewable sources, demonstrating its commitment to sustainable energy development.

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