Wells Fargo analyst Jonathan Reeder maintained a Buy rating on Brookfield Renewable Partners (BEP – Research Report) on November 3 and set a price target of $31.00. The company’s shares closed last Friday at $23.07.
Reeder covers the Utilities sector, focusing on stocks such as Brookfield Renewable Partners, Brookfield Infrastructure, and Brookfield Renewable. According to TipRanks, Reeder has an average return of 0.9% and a 47.50% success rate on recommended stocks.
Currently, the analyst consensus on Brookfield Renewable Partners is a Strong Buy with an average price target of $32.00, which is a 38.71% upside from current levels. In a report released on October 25, Scotiabank also maintained a Buy rating on the stock with a $30.00 price target.
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Based on Brookfield Renewable Partners’ latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.27 billion and a net profit of $151 million. In comparison, last year the company earned a revenue of $1.29 billion and had a net profit of $208 million
Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is positive on the stock. This means that over the past quarter there has been an increase of insiders buying their shares of BEP in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Brookfield Renewable Partners (BEP) Company Description:
Brookfield Renewable Partners LP engages in owning a portfolio of renewable power generating facilities primarily in North America, Colombia, Brazil, Europe, India, and China.. It operates through following segments: Hydroelectric; Wind; Solar; Storage and Other; and Corporate. The company was founded on June 27, 2011 and is headquartered in Hamilton, Bermuda.
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