The Brookfield Renewable Partners L.P. (BEP) shares are trading at lower $47.41 and the avg recommendation for the stock is Strong Buy. The current analyst price target stands at $35.63.
To add more color to this target, the company’s high over the last year is $57.69 and the low is $30.09. Over the last 52 weeks, BEP is down -17.82% while the S&P 500 is down -2.38%. The catalyst for this interesting swing was the company’s recent earnings report.
A Notable Earnings Report
In the last quarter, BEP reported a profit of $304.0 million. Brookfield Renewable Partners L.P. also saw revenues increase to $802.0 million. In addition, BEP has free cash flow of $302.0 million as of 03-2020 The company’s EBITDA came in at $510.0 million which compares well with its peers.
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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. BEP has a short ratio of 5.36 and outstanding shares of 179.02M.
BEP has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.35 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.12. Brookfield Renewable Partners L.P. BEP also noted assets of $32.66 billion at the end of the last quarter. Investors should also keep an eye on sector updates as BEP has historically followed its peers on positive news.
All told, Brookfield Renewable Partners L.P. BEP has strung together solid data and demonstrated underlying fundamentals. At its current valuation, BEP represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.
Brookfield Renewable Partners L.P. BEP is now commanding a market cap of 8.49B and a float of 133.09M. BEP is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of BEP stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!
Disclosure: we hold no position in BEP, either long or short, and we have not been compensated for this article.