Brookfield Renewable Reports Earnings, Fundamental Analysis is “Bearish”

Brookfield Renewable Partners L.P Stock Forecast:

The stock price of Brookfield Renewable Partners L.P is currently CAD 37.55 and 11 analysts have predicted an average target price of CAD 45.61 over the next 12 months. The average analyst rating for the company is “Strong Buy”, but Stock Target Advisor‘s own analysis is “Slightly Bearish”, based on a balance of 5 positive signals and 9 negative signals. In recent performance, the stock price has decreased by 3.89% in the past week, but increased by 6.86% over the past month. Over the past year, however, the stock price has declined by 10.21%.

Brookfield Renewable Partners L.P. News:

Brookfield Renewable Energy Partners (BEP) has recently released its financial results for the quarter that ended in December 2022. The company reported $645 million in revenue, reflecting a year-over-year decline of 40.9%. Meanwhile, its earnings per share (EPS) for the same period stands at -$0.16, which is higher compared to -$0.12 from the previous year.

Brookfield Renewable Results:

  1. Hydroelectric Generation in Colombia: 1222 GWh, which is higher than the average estimate of 1046.03 GWh by four analysts.
  2. Total Wind LTA Generation: 1929 GWh, which is lower than the estimated 1950.32 GWh based on three analyst projections.
  3. Total Hydroelectric Generation: 4609 GWh, which is lower than the average estimate of 4920.56 GWh from three analysts.
  4. Wind Generation in North America: 1005 GWh, which is lower than the estimated 1318.72 GWh by three analysts.
  5. Operating Revenue for Hydroelectric in Colombia: $68 million, higher than the eight-analyst average estimate of $65.40 million, and representing a year-over-year increase of 6.3%.
  6. Operating Revenue for Hydroelectric in Brazil: $55 million, higher than the average estimate of $49.09 million from eight analysts and represents a 44.7% YoY increase.
  7. Operating Revenue for Hydroelectric in North America: $219 million, lower than the average estimate of $224.34 million from eight analysts, and represents a 7.6% YoY decrease.
  8. Operating Revenue for Wind in Asia: $12 million, which is higher than the average estimate of $9.76 million from seven analysts and represents a 50% YoY increase.
  9. Operating Revenue for Solar: $77 million, lower than the average estimate of $90.12 million from seven analysts, but represents a 13.2% YoY increase.
  10. Hydroelectric Revenues: $342 million, which is lower than the seven-analyst average estimate of $350.19 million.
  11. Operating Revenue for Wind in Brazil: $8 million, higher than the average estimate of $7.01 million from seven analysts and represents a 60% YoY increase.
  12. Wind Revenues: $143 million, which is lower than the seven-analyst average estimate of $166.63 million.
Analysts Coverage Change:
  • STA Research: Maintains Brookfield Renewable with a “Hold” rating and a target price of $37 on the company’s stock.
  • TD Securities: Maintains Brookfield Renewable with an “Action List Buy” rating and a $55 target price.
  • BMO Capital Markets: Maintains Brookfield Renewable with an “Outperform” rating and a target price of $53 per share.

FA Score (Fundamental Analysis):

The fundamental analysis of Brookfield Renewable Partners L.P.  is “Slightly Bearish” with a FA score of 3.6 out of 10, where 0 is very bearish and 10 is very bullish.

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