Royal Bank of Canada Maintains Outperform Rating for Brookfield Renewable Partners

Royal Bank of Canada has reaffirmed its "outperform" rating for Brookfield Renewable Partners (NYSE:BEP) in a report released to clients and investors on Monday. In the same report, they have set a price target of $31.00 for the utilities provider's shares. This target reflects a potential rise of approximately 45.53% from the stock's previous closing price, suggesting favorable expectations for the company's future performance.

Several other research firms have also recently provided updates on Brookfield Renewable Partners. National Bank lowered its price target for the company from $33.00 to $32.00 while retaining an "outperform" rating. Meanwhile, JPMorgan Chase reduced its target price from $30.00 to $28.00, maintaining an "overweight" stance. Scotiabank also adjusted its price target downwards from $32.00 to $28.00 but kept an "outperform" rating intact.

In another move, StockNews.com decreased their rating for Brookfield Renewable from "hold" to "sell" on December 26th. Conversely, CIBC raised its price objective from $39.00 to $40.00 and has continued to provide an "outperform" rating. Overall, the consensus among analysts sees one sell rating, nine buy ratings, and one strong buy rating for Brookfield Renewable Partners. Currently, the stock holds an average rating of "Moderate Buy" and a consensus price target of $31.50 according to MarketBeat.

Current Stock Performance

On Monday, shares of Brookfield Renewable Partners traded down by $0.59, reaching $21.30. During this period, the trading volume was approximately 588,655 shares, contrasting with the average volume of 1,024,469 shares. The company boasts a debt-to-equity ratio of 0.93, along with a current ratio and quick ratio of both 0.73. The market capitalization stands at $6.07 billion, with a negative P/E ratio of -23.98, indicating challenges in profitability. Over the past year, Brookfield Renewable Partners has seen a low of $19.92 and a high of $29.56, with a 50-day moving average of $23.03 and a 200-day average of $24.71.

Overview of Recent Earnings

Brookfield Renewable Partners recently disclosed its quarterly earnings data on January 31st. The utilities firm reported earnings of ($0.06) per share (EPS), surpassing analysts' estimates of ($0.22) by a margin of $0.16. The company's return on equity was reported at a negative 0.03%, alongside a negative net margin of 0.15%. In the same quarter last year, Brookfield Renewable gained $0.01 in EPS. For the current year, analysts predict an average EPS of -0.76 for the company.

Institutional Investor Activities

Recent activities by institutional investors reflect varied investments in Brookfield Renewable Partners. CIBC Asset Management increased its stake by 23.8% in the fourth quarter, now holding 8,472,170 shares valued at about $192,605,000 after acquiring an additional 1,628,524 shares. Intact Investment Management also took a new position in the firm in the third quarter worth $42,331,000. Principal Financial Group raised its shares by 4.5%, owning 7,605,679 shares after purchasing an additional 330,648 in the recent quarter. Mirabella Financial Services LLP grew its stake by 145.2%, obtaining 466,736 shares valued at $13,153,000 after buying 276,374 shares in the last quarter. In summary, institutional investors hold 63.16% of Brookfield Renewable Partners' stock, showcasing substantial interest in the company.

About Brookfield Renewable Partners

Brookfield Renewable Partners L.P. owns a diverse portfolio of renewable power generation facilities primarily located in North America, Colombia, and Brazil. The organization utilizes various methods for electricity generation, including hydroelectric, wind, solar, and other renewable technologies. This positions the company as a key player in the green energy sector.

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