Royal Bank of Canada Maintains Outperform Rating for Brookfield Renewable Partners

Analysts from the Royal Bank of Canada have reaffirmed their "outperform" rating for shares of Brookfield Renewable Partners (NYSE:BEP). In a research report circulated to clients on Monday, they set a price target of $31.00 for the stock. This target suggests a considerable upside of about 45.53% based on the stock's recent closing price.

Other research firms have also recently provided their insights on Brookfield Renewable Partners. For instance, National Bankshares reduced their price target from $33.00 to $32.00, maintaining the company’s "outperform" rating. Meanwhile, JPMorgan Chase lowered its target from $30.00 to $28.00, but still rated the stock as "overweight." Additionally, Scotiabank opted to cut their price objective from $32.00 to $28.00 while keeping an "outperform" rating. StockNews.com has meanwhile changed their stance from a "hold" to a "sell" on the stock. On a more optimistic note, CIBC raised their price target from $39.00 to $40.00, keeping an "outperform" rating.

The general outlook for Brookfield Renewable Partners appears favorable. According to MarketBeat, while one analyst has rated the stock as a sell, nine maintain a buy rating, and one analyst has a strong buy recommendation. The average rating across analysts is classified as a "Moderate Buy," with a consensus price target of around $31.50.

Brookfield Renewable Partners Performance Overview

Recently, stocks of Brookfield Renewable Partners traded down $0.59, hitting a price of $21.30 during midday trading. The trading volume for the day reached 588,655 shares, contrasting with the average volume of 1,024,469 shares. The company carries a debt-to-equity ratio of 0.93 and a current ratio of 0.73. Its market cap stands at approximately $6.07 billion.

In terms of stock performance over the past year, the company reached a low of $19.92 and a high of $29.56. The 50-day moving average is currently $23.03, while the 200-day moving average is $24.71.

Brookfield Renewable Partners recently shared its quarterly earnings report, which revealed an earnings per share (EPS) of ($0.06) for the quarter. This result surpassed analyst predictions, which had estimated EPS at ($0.22). The company recorded a negative return on equity of 0.03% and a negative net margin of 0.15%. Comparatively, the same quarter from the previous year saw the firm earn $0.01 EPS. Analysts predict that the company might post an EPS of about -0.76 for the current year.

Institutional Investment Trends

Several institutional investors and hedge funds have recently made adjustments to their holdings in Brookfield Renewable Partners. For instance, CIBC Asset Management increased its stake in the company by 23.8% during the fourth quarter, now owning 8,472,170 shares valued at approximately $192.6 million after acquiring an additional 1.6 million shares. Similarly, Intact Investment Management made a new investment in the firm's stock, valued at $42.3 million during the third quarter. Principal Financial Group raised its position by 4.5%, bringing their total to 7,605,679 shares worth approximately $214.3 million.

Mirabella Financial Services also increased its holdings by over 145%, acquiring 276,374 additional shares. Institutional ownership is strong, with approximately 63.16% of the shares held by institutional investors and hedge funds.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. focuses on the development and management of renewable power generation facilities located primarily in North America, Colombia, and Brazil. The company's operations encompass a variety of technologies, including hydroelectric, wind, solar, and more.

Brookfield, Renewable, Investment