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RBC Capital Sticks to Their Buy Rating for Brookfield Renewable Partners (BEP)

Tipranks - Tue Jul 28, 8:54PM CDT

RBC Capital analyst Nelson Ng maintained a Buy rating on Brookfield Renewable Partners on July 24 and set a price target of $35.00. The company’s shares closed yesterday at C$46.71.

Claim 55% Off TipRanks

According to TipRanks, Ng is a 5-star analyst with an average return of 10.7% and a 60.73% success rate. Ng covers the Utilities sector, focusing on stocks such as Clearway Energy, XPLR Infrastructure, and Brookfield Renewable Partners.

Brookfield Renewable Partners has an analyst consensus of Moderate Buy, with a price target consensus of $37.67, a -19.35% downside from current levels. In a report released on July 21, Morgan Stanley also maintained a Buy rating on the stock with a $42.00 price target.

Based on Brookfield Renewable Partners’ latest earnings release for the quarter ending March 31, the company reported a quarterly revenue of C$1.52 billion and a GAAP net loss of C$113.41 million. In comparison, last year the company earned a revenue of C$1.58 billion and had a GAAP net loss of C$93 million

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