CIBC Remains a Hold on Brookfield Renewable Partners (BEP)

In a report released today, Mark Jarvi from CIBC reiterated a Hold rating on Brookfield Renewable Partners (BEPResearch Report), with a price target of C$54.00. The company’s shares closed last Tuesday at $37.48.

According to TipRanks.com, Jarvi is a 4-star analyst with an average return of 15.6% and a 72.1% success rate. Jarvi covers the Utilities sector, focusing on stocks such as Just Energy Group, Northland Power, and ATCO Ltd.

Brookfield Renewable Partners has an analyst consensus of Hold, with a price target consensus of $45.28, representing a 15.8% upside. In a report issued on April 28, TD Securities also initiated coverage with a Hold rating on the stock with a C$58.00 price target.

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Based on Brookfield Renewable Partners’ latest earnings release for the quarter ending December 31, the company reported a quarterly revenue of $952 million and GAAP net loss of $47 million. In comparison, last year the company earned revenue of $965 million and had a GAAP net loss of $40 million.

Based on the recent corporate insider activity of 6 insiders, corporate insider sentiment is neutral on the stock.

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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.